With Less Competition, Atlantic City Casinos Doing Better
By David Madden
ATLANTIC CITY, N.J. (CBS) --- Newly released numbers from New Jersey gaming officials suggest things may be turning around for the 8 remaining casinos in Atlantic City. Revenues in January were up almost 19 percent compared to 2014.
Together the remaining casinos took in an extra $31 million, and that takes into account a $3 million drop at the Taj Mahal, the only loser of the lot.
6 of the casinos saw double digit percentage increases, with the Golden Nugget on top at just under 70%.
That's no surprise to Roger Gros, publisher of Global Gaming Business Magazine.
"The existing casinos will now be more healthy than they were when there were 12 casinos operating against each other," Gros says.
Gros believes the reduced number of options is a good thing for Atlantic City.
"They're gonna understand how to market to the existing players, and I think we'll see this trend continue for some time here," he says.
There was a $3 million dollar gain in internet gaming revenue marketwide over the same 12 month period.