Atlantic City does have a lot to be happy about. One of its mainstays, the gambling industry, has been performing quite vibrantly. No signs of declines have been perceived in the overall context of business, although some minor brick-and-mortar snags were registered.
Atlantic City’s Gambling Profit Up, Land-based Revenue Down
In September, Atlantic City saw its casinos report quite the hefty uptick in their financial results, citing a spike in the overall interest and activity. However, a small wrinkle occurred when it was established that brick-and-mortar casinos may have seen their revenue decline because of the newly-emerging contestants that bring innovation and a certain appeal along with them.
The latest figures posted by the New Jersey Division of Gaming Enforcement (DGE), Atlantic City’s brick-and-mortar operation of the nine most noteworthy names shrunk compared to August. While, the revenue was still higher compared to the same period in 2017, it was still shy of the $270 million achieved over in August.
Despite this snag, though, the overall market has been performing quite well, with the body reporting 15.5% overall increase in operations, up to $272.2 million. There have been notable contributions from both online gambling ($25.7 million) and sports betting ($14.5 million) that have made all of this possible.
At the same time, it was only Tropicana, an established casino brand, that managed to notch an incremental increase of its revenue, by 0.5%. A modest achievement by all estimates, but one that nonetheless stood from others’ plunging profits. Caesars, for example, was buffeted quite solidly, taking a 23% hit to its operations in September and not really making the cut of the most lucrative operators in the state.
More Profit Along with More Potential Takers
It’s not so difficult to see what’s happening. Market saturating would be a correct way to call it. As per the latest figures, the city’s latest properties also managed to briefly keep a brave face, but they also took a slight tumble, with both Hard Rock Atlantic City and the Ocean Resort Casino performing slightly worse than they had when they were opened.
But the poorer revenue results don’t mean that gambling is coming to a halt in one of its bastions. No, it simply means that as the market becomes more accessible and liberalized, more players are stepping forward to introduce their own version of a gaming venue done right.
Of course, competition at such a scale will certainly has its restrictions. New properties will be struggling to notch up overwhelming revenues, as there is a clear limit to how much people are willing to spend. With the introduction of online gambling channels, many gamers may opt to stay at home.
The data by (DGE) is an indication of that. There has been some heat from Pennsylvania’s operators too. A lot of licenses have been issued in the country recently, making the danger there hard to ignore, but still – experts believe that Atlantic City will do just fine despite the strong competition. Only the numbers will be able to tell us if this is true, though.