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Atlantic City casino revenue up nearly 8 percent in September
Posted in: In The News on Thursday, October 12, 2017

Atlantic City's casinos saw a nearly 8-percent increase in gambling revenue, including internet gaming, in September compared to last year. Figures released Thursday by the state Division of Gaming Enforcement show the city's seven remaining casinos -- excluding the shuttered Trump Taj Mahal -- raked in a total of more than $235.8 million in September -- up from the $218.4 million in September last year. Atlantic City has seen significant gains in gambling revenue so far this year, helped by the ever-growing internet gaming industry. September's figures are an encouraging sign for those hoping to see a comeback in Atlantic City's gambling industry. Internet gaming also posted significant gains in September with revenues totaling about $183.6 million compared to the nearly $144.5 million generated the previous year. September's gains reflect a roughly 27-percent increase compared to last year. For the year-to-date, casino revenue raked in around $2 billion through September, compared with the $1.86 billion brought in the previous year, reflecting a more than 9-percent increase.

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Atlantic City casino revenue up 7.9 percent in September
Posted in: In The News on Thursday, October 12, 2017

The resort’s seven remaining casinos saw gambling revenue, including internet gaming, increased by nearly 8 percent in September compared with last year, according to state gambling figures released Thursday. Overall casino gambling revenue, excluding the closed Trump Taj Mahal, totaled more than $235.8 million in September, compared with more than $218.4 million in September 2016, according to the figures. "More than half of the casinos had their best September in a decade or more and the current operators as a group were up 7.9 percent, some of which was the result of having one more Saturday than in September last year," said Matthew B. Levinson, chairman and chief executive officer of the Casino Control Commission. September capped off a solid first nine months of the years for the industry. For the year-to-date, casino revenue for the remaining casinos totaled $2 billion through September, compared with $1.8 billion in the prior period, an increase of more than 9 percent. "This isn’t just luck. Business is building," Levinson said. "Revenue at one operator was flat, but every other casino and every internet operation was up for the first nine months of this year." The revenue increase shows the city gaming market is moving in the right direction, said Michael Clay, Administrator of the Financial Investigations Unit with the state Department of Gaming Enforcement. "The Atlantic City casino industry revenue results for September continue the 2017 trend of overall stability and individual property growth," Clay said. "These casino gaming results provide a strong foundation for the anticipated expansion of Atlantic City's hospitality and gaming amenities in 2018." Internet gambling grew by 27.1 percent. Its revenues totaled about $183.6 million in September compared with more than $144.5 million a year ago. “Online gambling now accounts for some 10 percent of all casino revenue generated by Atlantic City casinos, which is a staggering total for such a young industry,” said Steve Ruddock, lead analyst for PlayNJ.com. “The bottom line is that legal online gambling has become an incredibly competitive market with many winners, and that has undoubtedly been a boon for New Jersey.”

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Atlantic City Casinos Win up 4 Percent in September
Posted in: In The News on Thursday, October 12, 2017

Atlantic City's casinos won about 4 percent more from gamblers in September than they did a year earlier. Figures released Thursday by the New Jersey Division of Gaming Enforcement show the seven casinos and online gambling outlets won $235.8 million, an increase of 4.1 percent compared with September 2016. When the now-shuttered Trump Taj Mahal is excluded, Atlantic City's casino revenue was up by 7.9 percent from a year ago. The Trump Taj Mahal shut down last October. Matthew Levinson, chairman of the Casino Control Commission, said that gaming revenue is up more than 9 percent over the last nine months. "This isn't just luck. Business is building," he said. Five of the seven casinos currently operating showed increases in September, led by the Golden Nugget, which was up 14.1 percent to $24.6 million. Bally's was down 1.7 percent 1 to $17.8 million and Caesars was down 0.1 percent to $29.8 million. Internet gambling was up 25.6 percent to $20.4 million.

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Tourism up in Atlantic City
Posted in: In The News on Monday, September 18, 2017

Things are seemingly looking up for the Atlantic City businesses that haven’t closed down. Performance metrics for the city are all trending upward, according to the Atlantic City Tourism Performance Indicators. The AC-TPI is released by Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism through Stockton University. Three metrics are used to measure performance of the tourism industry: Lodging fees per 100 rooms, parking fees per 100 spaces and non-casino revenue per available room in Atlantic county. These metrics have increased between 8 and 10 percent over the past 12 months.

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Atlantic City tourism market continues to shows signs of growth
Posted in: In The News on Monday, September 18, 2017

The city's tourism market continued to show positive growth during the first six months of the year, according to a report by the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University. Through June, all three indicators the institute uses to show the health of the tourism industry in the city were up, the report issued Monday said. The indicators are year-over-year percentage changes in the Atlantic County lodging fee per 100 rooms, the Atlantic City casino parking fee per 100 spaces and Atlantic County noncasino revenue per available room. “All three performance indicators showed healthy gains in the second quarter with the Parking Fee per 100 spaces, Lodging Fee per 100 rooms and Atlantic County Noncasino RevPAR showing 10 percent, eight percent and eight percent increases over the prior 12 months,” said Brian Tyrrell, professor of hospitality and tourism management studies at Stockton.

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Atlantic City casino revenue increases by 5.5 percent
Posted in: In The News on Wednesday, September 13, 2017

The resort’s seven remaining casinos saw gambling revenue, including internet gaming, increase by 5.5 percent in August compared with last year, according to state gambling figures released Wednesday. Overall casino gambling revenue, excluding the closed Trump Taj Mahal, totaled more than $244.8 million in August, compared with more than $232 million in August 2016, according to the figures. “These figures show the continued stabilization of the Atlantic City casino market buoyed by consistently positive online gaming numbers,” said David Rebuck, director of the state Division of Gaming Enforcement. For the year-to-date, casino revenue for the remaining casinos totaled $1.8 billion through August, compared with $1.6 billion in the prior period, an increase of 9.2 percent.

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