February was a good month for Atlantic City. The Atlantic Coast has suffered from some severe cold snaps. January and February in Atlantic City were biting months for weather, and yet a report said the revenue was up for the second month of the year. Now it seems things have changed.
Atlantic City revenue reports state March has suffered in overall revenue. The weather is the reason behind the drop according to the media reports.
On April 12, 2018, the revenue numbers for the casinos came in from the New Jersey Division of Gaming Enforcement. They showed seven casinos gained $192 million in revenue, which is down 3.6 percent with a year-on-year analysis. February profits were $170 million, but it was at least a profit in the comparison.
If, one looks at the entire picture, with all casinos added to the revenue, the number changes to only being down 1.5 percent, with total earnings of $218 million. It is the brick-and-mortar location that is showing the decline. The low numbers are being blamed on the gaming tables. The slot revenue was mostly unchanged from a year-on-year examination, with an income of $137 million. Table games dropped by 11 percent to $55.6 million.
Table games have dropped throughout Atlantic City in places like Caesars for the last three years.
The New Jersey Casino Control Commission chairman, Plousis, told the media the four winter storms that have hit the coast are the reason March did not see the numbers it should have. But, is this supported, considering February had decent profits and there is a third-year decrease for table games? It seems that opinion is paramount in finding an answer.
Atlantic City Celebrates
There is hope on the horizon. April Celebration may bring the numbers up. Atlantic City is celebrating fifty years of history as a place for gambling. This anniversary may be everything the city needs to see a higher profit in April than it has seen all year.
It is too early to say anything about the April numbers, but celebrations bring in money. For now, Borgata, Harrah, and Golden Nugget are in the lead for gaining revenue, with marginal profits in comparison to last year. They are up between .6 and 17 percent looking at the year-on-year comparison. For the first quarter, Atlantic City is also able to show a profit.