Atlantic City Sees Some Growth with the First Six Months of 2016 – As Gaming Profits Rose 21%
“For the first time in eight years, every single bricks and mortar casino reported positive operating income.” – New Jersey Casino Control Commission Chairman Matt Levinson
The way things have been going in Atlantic City over the recent years, it’s a wonder the market reported what it did for the first 6 months of this year. There is still the possibility that Atlantic City will lose another land-based casino, but for right now they shown some growth for the first half of this year.
The latest figures were released on Monday. The state gaming regulators reported that the industry as a whole reported revenues of $1.68 billion from the first day of the year up until the last day of June. This was a 1.6% increase compared to 2015.
Gaming revenues were a little better this time around compared to last year. Increased revenues of about 2.2% were reported while 1.4% improvement for rooms. Food and drink sales fell a little flat though. Food and drink sales fell just 1% while the “other” category fell 0.7% to $70.4 million. The first six months of casino wins as a percentage came in at 71%.
Atlantic City needs to try and hang on. Only time will tell if they can pull themselves out of this rut that they’ve been in for a few years now.
Figures for the eight casinos were released Monday by the state Division of Gaming Enforcement.