Atlantic City’s casinos struggling despite new gaming verticals

Atlantic City casinos reported an overall revenue gain in the month of April, but only one casino enjoyed a year-on-year improvement and three venues saw revenue fall by nearly one-quarter.

The New Jersey Division of Gaming Enforcement released its April casino report on Tuesday, and the numbers – once filtered through the numerous changes the market has undergone – make for some sobering reading.

The headline figures show brick-and-mortar gaming win (slots and table games) of nearly $207.6m in April, an 8.4% improvement from April 2018. Slots revenue rose 6.1% to $144.86m while tables shot up 14.3% to $62.7m.

But only one of the seven casinos that was open in April 2018 reported a year-on-year gain last month, and the market-leading Borgata was up only 0.5% to around $53.4m. The two casinos that opened last summer reported numbers that largely mimicked their March results, with the Hard Rock Atlantic City earning $23.4m and Ocean Casino Resort just under $15.2m.