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Atlantic City casinos post gains in May boosted by online revenue
Posted in: In The News on Thursday, June 15, 2017

New Jersey's internet gambling market provided another boost to casino revenues in May as the industry posted overall gambling winnings higher than the previous year. Online gambling raked in $21.1 million in May, falling just short of its best month ever in March with $21.7 million. Online gambling revenues in April were $16.5 million. Figures released Wednesday by the state Division of Gaming Enforcement show the casinos won $208.3 million in May. Though a $13.5 million drop from figures in March, it reflects a more than 2.5 percent increase from May last year. Casinos won a total of $229.4 million from gamblers -- a 4.3-percent increase from May 2016. For the year so far, Atlantic City's casinos have raked in a total of $971.8 million, reflecting a $17.5 million increase since the prior year.

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Atlantic City Casinos Show Another Increase in Revenue
Posted in: In The News on Thursday, June 15, 2017

Monthly revenue for Atlantic City's casinos is on the rise once again. The New Jersey Division of Gaming Enforcement announced on Wednesday, June 14th, that casinos saw an increase of 4.3 percent in revenue, racking in more than $229 million. And if the Trump Taj Mahal is removed from the equation, the seven surviving casinos posted a 12-percent increase last month. Figures also show the continued steady rise in internet gambling revenue with an increase by more than 27 percent in May. Bally's Resort was the only casino to see a small decrease. Overall, in the first five months of the year, Atlantic City has already had a 3.9-percent increase compared to the same period last year.

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Atlantic City casino revenue up 4.3 percent in May
Posted in: In The News on Wednesday, June 14, 2017

Summertime's nearly here, and the living is getting easier for Atlantic City's casino operators with the busiest and most profitable time of the year arriving as the industry is on a roll. Atlantic City's casinos saw their gambling revenue increase by 4.3 percent in May compared with a year ago, to more than $229 million. And if the shuttered Trump Taj Mahal were removed from the equation, the seven surviving casinos would have posted a 12-percent increase last month. Figures released Wednesday by the New Jersey Division of Gaming Enforcement also show the continued steady rise of internet gambling revenue in the largest online market in the country.

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Casino revenue increases by 2.5 percent
Posted in: In The News on Wednesday, June 14, 2017

The resort's May casino revenues increased by 2.5 percent, according to state gaming figures released Wednesday. Casino industry revenue totaled $208.3 million last month, compared with $203.3 million in May 2016. Internet gaming grew by 27.3 percent. Its revenues totaled about $21.1 million in May compared with $16.5 million a year ago. "With a solid performance to date and now on the cusp of the busy summer season, the Atlantic City casino industry seems well positioned to capitalize on these positive trends," said Dave Rebuck, director of state Division of Gaming Enforcement.

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Atlantic City casino industry pumps $2.3 billion into N.J. small businesses
Posted in: In The News on Saturday, June 03, 2017

Four decades ago, casino gaming was billed as an economic engine that would redevelop the resort. While casino gaming failed to create small businesses in the city, it spawned an economy that sees casinos spend an average of $2.3 billion annually with more than 2,000 independent vendors operating in every county in the state. Casino operators use a slew of outside firms to provide services to their customers, including transportation companies, meat and produce purveyors, bakeries, beverage distributors, radio stations, professional consultants and construction contractors, according to the Casino Association of New Jersey. For the past 30, years Greg Goff, owner of Casino Lobster in Pleasantville, has been one of the people who has taken advantage of the business coming from the casino industry.

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Atlantic City casino profits spike 30.4% in Q1
Posted in: In The News on Thursday, May 25, 2017

Atlantic City casinos reported a surge in operating profit in the first quarter of 2017, adding weight to theories that the market has ‘right-sized’ after years of turmoil. Figures released this week by the New Jersey Division of Gaming Enforcement (DGE) show Atlantic City casinos’ total gross operating profit rose 30.4% year-on-year to $139.4m in the three months ending March 31. Revenue rose 8.6% to $816.7m, thanks to an 11% rise in gaming revenue, while room revenue was up 4.2% as occupancy improved 7.3 points to 81.1%. As ever, the Borgata bogarted the profits, claiming $61.4m, a gain of nearly 29%. The next closest competitor was Harrah’s at $23.8m, and it was going in the opposite direction, netting 11.3% less than last year. The biggest gainer was Resorts Casino Hotel, which reported a profit of $4m, up from just $500k last year.

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