Atlantic City Casinos hit 22.5% revenue profit as newbie Hard Rock gains ground

Atlantic nine casinos saw them collect a gambling revenue that of $266.79 million in May 2019. This revenue was won from the land-based, sports betting and online gaming operations they provide. Comparing with the revenue they collected in May 2018, this was a 22.5% profit mark. This is according to the Division of Gaming Enforcement released data.

James Plousis, Casino Control Commission Chairman, stated that the market momentum was pointing in what he referred to as a ‘great summer’. He said that Atlantic City had provided attractions and various entertainment options to people. ‘Atlantic City is providing more reasons to visit for anyone seeking top gaming, leisure and recreation.’ He quoted.

Two more additions

The industry saw an entry of two more casinos over the year. This has seen them contribute to the revenue collection. Hard Rock Casino and Ocean Casino Resort. With the recently launched sports betting on board, there was a 45.5 Million win. This was a pointer to what online gambling had become in Atlantic City. The online platform brought $38.34 million in GGR (Gross Gaming Revenue) which signified a positive 57.8% jump. The sports betting revenue got from the Atlantic City racetracks, Monmouth Park and Meadowlands made the positive 27.1% mark on the GGR taking it to $276.77 Million.

Atlantic City Casinos | Caesars, Ballys and more.
© Atlantic City Casinos | Caesars, Ballys and more.

Rummy Pandit, executive director of the Loyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University stated that Atlantic City showed strength and resilience in making gains in the revenue collected. He would further note that the visitation increased according to South Jersey Transportation Authority traffic data. The data also captured an increase in the number of trips made at Pleasantville Toll Plaza on Atlantic City Expressway which was an increase of about 4.6%. Pandit stated that the visitation was another avenue that would impact the nongaming revenues too.

The revenues collected per casino are as follows; Golden Nugget boasted the most decrease by dropping by 13.15% to collect $31.2 Million, Resorts got $16.1 Million at 4.1%, Caesars got an increase of 3%. Tropicana dropped and had its revenue at $29.3 Million down by 14.6%, Borgata dropped too at $61.3 Million by 7.1%, Harrah’s dropped at $25.6 Million by 6.7% and Bally’s dropped by 2.6% and collected $16 Million.

Hard Rock gaining ground

With the casinos all looking for better market shares, Hard Rock has taken the second fiddle to Borgata. The Seminole Tribe owned property won $28.9 Million which is the second best of what the nine casinos garnered. Through the year, the casino won $113.2 Million a figure that places it below Borgata at $269 Million, Harrah’s at $124.8 Million and Tropicana at $121.7 Million.

With Ocean Casino Resort, another new entrant, there have been far much less success with the casino winning $72.8 Million from January through May.

Atlantic City Ocean| Casino Resort Main Building
© Atlantic City Ocean| Casino Resort Main Building

To further their ground, a marketing partnership between Hard Rock, Ocean Casino and Resorts has been formed to advertise it as North Beach. Speaking on the partnership, Eric Matejevich, Ocean Casino Resort said the partnership would bring a new experience to North Beach and to show this he said:

‘A guest can have three totally different casino experiences with maybe 40 different restaurants within a 10-minute walk.’ 

I'm Adam Shaw, Senior Editor and one of the first members at VegasSlots. I'm a massive football sports fan but also love casinos and occasional trips to Las Vegas. Gaming runs in the family

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