Not only did players put dramatically less money onto the tables and into the slots but Atlantic City casinos had a run of bad luck last month. All of these factors contributed to a 17% decline. When the four closed casinos are subtracted from the equation, the dip was a more-acceptable 4%. Slot coin-in fell 8% and win slipped 10%; table play was 20% off and casinos won 31% less. Borgata (down 3%) defied the trend to an extent, winning 1% more at the slots on 9% higher coin-in. Table play was rough, though, with 4% less wagered and 12% less won by the casino.
Internet play was a bright spot, rising 11% for a $13 million gross. Borgata still holds the plurality of market share (31%) but Golden Nugget, with 26%, is coming on strong.
Caesars Atlantic City had a spectacularly bad month, down 34%, while Bally’s Wild Wild West — ironically the next Caesars casino threatened with closure — helped redeem the company’s honor with a 3.5% gain, while Harrah’s Resort remained a pillar of strength, up 18% and solidly in second place behind Borgata. The only other property in town to post a decline was — you guessed it — Trump Taj Mahal, down 12%.
Golden Nugget enjoyed a 10% boost while Tropicana Atlantic City was up 3%. Despite being in last place, Resorts Atlantic City performed well, gaining 12% over last year. In terms of gross, the casinos ranked as follows: Borgata ($53.5 million); Harrah’s Resort ($29 million); Tropicana Atlantic City and Caesars Atlantic City ($22.5 million each); Bally’s and Trump Taj Mahal ($16 million apiece); Golden Nugget ($14 million); Resorts Atlantic City ($12 million).
* Closer to home, Mike Weatherford finds a well-informed middle ground in the not-so-great Mariah Carey debate.
What a disaster! The Taj continues its rush to the bottom. I am going to be there tomorrow just to see how bad the place has become. Then I am going back to Borgata … Good for the Nugget. They deserve it. A very well executed renovation!