Atlantic City casino revenue climbs 5.5% in June

Altogether, the eight casinos took in $216.5 million in revenue from slot machines, table games and Internet gambling, a 5.5 percent increase over their $205.3 million in winnings from June 2014, according to figures released Tuesday by the New Jersey Division of Gaming Enforcement.

Total revenue from slot machines and table games was nearly $204.9 million, a 4.4 percent increase over $196.3 million a year ago. Internet gambling revenue jumped 30 percent, to nearly $11.7 million.

Golden Nugget Atlantic City, Resorts Casino Hotel and Borgata Hotel Casino & Spa were individual standouts for the month, all posting double-digit gains compared to last year. Harrah’s Resort was up 7 percent.

Mark Giannantonio, president and chief executive officer of Resorts, said June’s totals are a harbinger of what he believes will be a strong summer. He also noted that a blockbuster Fourth of July weekend has continued the upward trend for Resorts at its slot machines and table games so far this month.

“I think the results speak very well for a very good summer,” Giannantonio said. “I think this will be an exceptional summer. Honestly, I think this summer will be great for the industry and great for Resorts.”

Joe Lupo, senior vice president of operations at Borgata, said he was particularly encouraged by the higher slots volume in June, but expressed some concern that the table games business hasn’t been as strong industrywide. He pointed to the slots data as perhaps the best indicator of the upcoming summer season.

“We’re obviously very positively looking at the summer,” Lupo said. “There’s an expectation to see big increases in summer. I think it’s going to be a great summer.”

Lupo noted that it will be key for Atlantic City to sustain the momentum into the shoulder season, when business traditionally slows down. Hotel rooms that are packed during summer may go empty in fall, presenting a whole new set of challenges for the industry, he said.

In June, Borgata continued to lead the market in gaming revenue. It posted total winnings of $60.3 million, up 17 percent from a year ago. Lupo said Borgata is coming off two big quarters this year, including its best-ever May in slots and a strong performance in table games for June.

However, not all of the casinos jumped on the summer wave in June. Tropicana Casino and Resort, Caesars and Bally’s all were down by single-digit margins. Trump Taj Mahal Casino Resort, still struggling to recover from its bout in bankruptcy, saw its revenue plunge by more than 23 percent.

This time last year, the Showboat, Revel and Trump Plaza casinos were still open. They all closed between August and September, following the Atlantic Club’s shutdown in January 2014.

The $216.5 million in total revenue posted this June by the eight surviving casinos reflects an 8 percent decrease compared to the nearly $236 million in total gaming revenue generated by the 11 casinos that were open a year ago.

For the first half of 2015, the eight casinos have grossed $1.2 billion in total gaming revenue, up 4 percent from their take this time last year. But overall, Atlantic City gaming revenue is down 10 percent for the year when compared to the amount generated by the 11 casinos still operating in June 2014.