Those who wondered for years when the Atlantic City casino industry’s revenues would finally bottom out may have just gotten their answer: 2015.
A strong December brought the Atlantic City casino industry’s total revenues to $2.60 billion, up 1.5 percent over 2015.
That marks the first time in a decade that the industry increased its revenues from the previous years – after what had been an unceasing annual increase from the industry’s birth in 1978 until 2006.
“The year 2016 went out with a bang at the casinos, thanks to a 15 percent jump in casino revenue for December,” said Casino Control Commission Chairman Matthew Levinson, referring to the seven surviving casinos. “Having New Year’s Eve on a Saturday night, and plain old good luck, provided a big boost for the casinos in December.
“Every casino licensee reported increased revenue – including two that are internet-only licensees,” Levinson added. “Even when results from the now-closed Trump Taj Mahal are included, December was still up by 8.6 percent compared to the year before.”
The brick-and-mortar casino revenues were actually down 0.3 percent to $2.4 billion compared to 2015, but internet gaming revenues soared by one-third to $197 million.
The seven current casinos collectively saw revenues rise 4 percent in 2016, another sign that the industry may have reached a more realistic number of competitors for profits to be attainable.