Atlantic City Shows Great Revenue Growth
Atlantic City has posted positive revenue figures despite some decline in the sector. Rather unsurprisingly to many, online casino revenue pushed the market into the positive. Disregarding online gaming figures would show a 0.3% decline in revenue of land-based casinos since last year. While most casinos in the region posted positive growth, the Borgata failed see any growth.
This revenue month surpassed all other online revenue months, marking the first time that online revenue over $200 million has been posted. Online gambling has become more popular, growing by a whopping 23%. As fans are realising that online casino gaming is just as engaging and even more rewarding than land based gaming they are making the switch to desktop or mobile gambling.
The online gaming push was lead by the Golden Nugget, the Borgata, Resorts Digital, Tropicana and Caesars Interactive-NJ. These land based casinos also have online operations that have underpinned this year’s $2.2 billion in revenue generated by casinos.
The Golden Nugget as way ahead with online revenues, topping out at $6.1 million for the month. Despite suffering an overall loss, the Borgata still reported online gaming revenues of $4million. Resorts Digital, Tropicana and Caesars Interactive all reported revenue of over $3.2 million.
Online Gaming Growing
Despite their regulatory challenges, online casino gaming is definitely gaining a foothold in the US. The government is slowly realising that by granting land based casinos a monopoly, you are negatively impacting potential revenue generation in a state over and above land based casino gaming.
With 4 states already legalising online gambling, we are seeing small scale gaming networks form. For example Caesars Interactive NJ is partnered with New Jersey’s online poker services that provide a wide area network of real money online poker.
The Trump Taj Mahal’s closure last year has lead the venue’s businessman owner, Carl Icahn to revaluate his options. The Taj Mahal is set to be turned into a new Hard Rock casino and resort venue.
While this new development won’t be quite on the scale of the new Hard Rock casino and resort in Florida, it certainly will not be a low key affair. The venue will have a lot to live up to as the Taj Mahal was an icon of Atlantic City with its one of a kind design. Hopefully the venue will integrate itself with online gaming services and expand the market for players in the area.
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