Atlantic City Casinos Announce September Earnings

In a report released by the New Jersey State Casino Control Board, land-based casino gambling revenue in Atlantic City rose 9% percent to $470 million for the month of September. This comes after Atlantic City casinos posted record revenues in August.

Gambling proceeds increased at 11 of the 12 casinos for the month of September, as only the Showboat posted lower results (-1%). The top gainers were the 3 Trump casinos, each posting double-digit gains. Trump Marina had an an increase of over 20% due to strong slot winnings and table-game income.

Over at the Borgata, gambling revenue increased 15% to surpass the $70 million mark for September, continuing the great upward climb since the June launch of their $200 million extensions. They added 3 new restaurants, 500 new slots, and an 85-table poker room, the biggest around.

Bally's and Tropicana also reported double-digit growth in revenue. Bally's posted $59 million in revenue, second only to the Borgata's $70 million.

Harrah's, Caesars, the Hilton, and the Sands Casino were up single digit percentages. As you may know, the Sands is preparing to close its doors permanently this November for the construction of a new $1.5 billion mega-casino by its new operator, Pinnacle Entertainment.

For the first 9 months of the year, land-based casino gambling revenue is up 4.7%, to almost $4 billion. July was the only month to have a decline. As you recall, that was due to the 3-day shutdown caused by the New Jersey State budget crisis.



2006-10-11