Atlantic City posted another negative month in July. Gaming revenue in July 2013 fell 3.6% to $297.2 million. July 2012 gaming revenue was $308.2 million. This only represents money won in the casino by Atlantic City resorts. It does not include revenue earned from non-gaming operations including restaurants and hotel. Year-to-date revenue as of July 2013 came in at $1.68 billion, which was down 9.6% against 2012.
Three of Atlantic City’s twelve casinos were positive against the July 2012 numbers. Revel was the largest percentage gainer, with a 33.4% increase. Revel ran a loss rebate promotion in July 2013 that refunded gamblers their losses on slots and video poker machines up to $100,000. Payments are made via free play over a 20-week period. Borgata (18.9%) and Resorts (6.2%) were also positive against July 2012.
The biggest percentage loser was Tropicana (26%). Trump Plaza (24.9%) and Showboat (19%) round out the top 3 biggest percentage decliners.
Out of the 11 casinos that were open all 12 months in 2012, only Atlantic Club is positive year-to-date through July 2013. It posted a 14.7% gain. Revel also posted a positive year-to-date win, though it did not open until March 28, 2012.
Borgata continued its Atlantic City dominance. Its $360 million year-to-date win was down less than 1% over 2012. Its casino has won 58% more than 2nd place Harrah’s through the first seven months of 2013.
Online gambling is expected to launch on or about November 26, 2013 in New Jersey. Interactive gaming revenue will be taxed at a 15% rate. Atlantic City brick and mortar gaming revenue carries an 8% tax rate with a mandatory 1.25% rate that is applied to infrastructure reinvestment.
Official Press Release from New Jersey Division of Gaming Enforcement
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