Atlantic City’s veteran casinos still struggling with new competition

Atlantic City casinos reported a double-digit gaming revenue rise in May, and even some of the older venues got in on the fun for a change.

On Wednesday, New Jersey gambling regulators announced that AC’s nine casino operators had generated combined slots and table game revenue of $222.9m in the month of May, up 15.3% from May 2018 and 7.3% higher than April 2019’s result.

All of AC’s land-based gaming options were contributing in May, with slots revenue up 13.8% to $165.2m and tables rising one-fifth to $57.7m. Throw in the $38.3m brought in by the casinos’ online gambling sites and the $5.5m from their sports betting operations and the month’s total gaming revenue haul was up 22.5% year-on-year to $266.75m.

For a change, two of the seven casinos that were open for business in May 2018 posted year-on-year revenue gains in May, although those gains were modest. Caesars improved 3% to $22.9m while Resorts Casino Hotel was up 4.2% to nearly $16.2m.