Revenues at Atlantic City Fall in August by 5%
Eight of the remaining Atlantic City's casinos took a 5% knock in August compared to the same period last year according to data that was released recently.
During August 2015 the casino's brought in $258.6 million from their slot machines, the table games and their online gambling in August, this is according to data that was released recently by the state Division of Gaming Enforcement. That's a 5% decline from the same month the previous year when these eight casinos brought in $272.3 million.
Officials noted that although all of Labor Day Weekend was during September this year, most of the holiday weekend was in August in 2014.
Chairman of the Casino Control Commission, Matthew Levinson has noted that the numbers for year to date paint a much rosier picture. The year up to date on the data shows an overall increase of 3.2% among the eight casinos.
He continued that it was a positive trend and hoped that it will continue throughout the winter months.
Total revenues ware down by over 15% during August when you include all of the casinos that opened at the same time last year. Year to date, the industry revenues have fallen by about 10%.
During last year four casinos closed in Atlantic City. The first to fall was Atlantic Club in January then followed by Showboat during August after than Revel and Trump Plaza fell in September.
This drop-off in revenues during August follows after several months of gains at the remaining casinos, this includes an approximate 8% increase in July.
The steepest decline was Caesars who posted a lowering of 28.6% in August compared to the previous August, and Trump Taj Mahal posted 24.2% decrease.
Three casino's, Golden Nugget, Resorts and Borgata, showed an increase in revenues last month. Golden Nugget had the highest increase of 27.8%.