Atlantic City Casino Revenue May 2019
W hen Donald Trump opened the towering Trump Taj Mahal Casino in Atlantic City in. Of the area’s gambling revenues. America in 2019. He believes there are Atlantic Citys all across the. DGE Announces 1st Quarter 2019 Results For Immediate Release: May 22, 2019 Contact: Kerry Langan (609) 317-6201 info@njdge.org ATLANTIC CITY — Casino Licensees Financial Results: According to financial reports filed with the Division of Gaming Enforcement (DGE), the casino licensees’ Net Revenue increased 17.6% to $704.6 million. Now that the data for December 2019 have been added, the Division of Gaming Enforcement (DGE) reports a total of $3.29 billion in revenue for 2019 for the nine Atlantic City casinos combined. This represents an increase of more than 15% compared to 2018. Atlantic City is on a roll. Casino gambling revenue increased in May by more than 22%, completing a full year of monthly revenue growth, reported the Press of Atlantic City.
- Atlantic City Casino Revenue May 2019 Solicitations
- Atlantic City Casino Revenue May 2019 Calendar Printable
- Atlantic City Casino Revenue May 2019 2020
Over the past year, Atlantic City has grown to become one of the most profitable gambling hubs in the country. New reports show that Atlantic City casino revenue increased massively in 2019’s third quarter. It’s fantastic news for the state and casino companies operating here.
Both sports betting and casino gambling continues to generate revenue here. Let’s take a look at exactly how much money the city’s gambling industry managed to generate over the past several months.
New Reports Show Atlantic City Casino Revenue is Increasing
You can’t cover the US casino industry without talking about Atlantic City. Decades ago, this was one of the most profitable gambling markets in the world. Unfortunately, the recession took a major toll on this city and it seemed on the brink of collapse.
Recently, however, things have improved dramatically. Revenue in this city has continued to increase for almost all of 2019. There are a few major reasons why this is.
The legalization of sports betting is certainly helping. New Jersey made sports gambling legal in May of 2018. Every casino in the state now operates a sportsbook. It’s helped to generate millions of dollars for the state government via taxes. New Jersey now has the most profitable sports betting market in the world.
New reports show that Atlantic City casino revenue increased massively during this year’s third quarter. Gross profit for the three months increased to $26.5 million, representing a 12.5% increase from the same time period in 2018. Atlantic City’s nine casinos generated $928.9 million in net revenue.
Things are looking very good here. Based on the way things are going, this will be the best year in the city’s history.
Atlantic City Casino Revenue May 2019 Solicitations
Which Casinos Generated the Most Money in Q3?
July, August, and September are all popular gambling months. It’s not a huge surprise to see so much money flowing into the casinos during this quarter. Some casinos managed to earn considerably more than others, though.
Atlantic City Casino Revenue May 2019 Calendar Printable
Borgata Casino generated the most money. It’s the most popular casino in the city and blew all of its competitors out of the water. In total, this gambling venue brought in $210,141,863. Hard Rock Atlantic City brought in the second-most money at $106,663,788.
These properties have reason to celebrate. James T. Plousis, Casino Control Commission Chairman in NJ, states that non-gambling amenities in the city proved successful last quarter, too.
“Positive trends also continued with important tourism indicators,” he said. “Non-gaming amenities continue to create a competitive advantage, and visitors like the diverse dining, entertainment and leisure activities that Atlantic City has to offer.”
Just about every casino had a solid few months. Things are obviously slowing down as winter approaches yet many are still generating more money than they did last year.
Sports Betting Revenue Surges in AC, As Well
There’s never been a better time to be a sports fan in Atlantic City. Sportsbooks in this city are continuing to improve. Both online and land-based sports gambling is legal here. For almost all of 2019, revenue from this industry has increased.
Atlantic City Casino Revenue May 2019 2020
In October, sports betting helped to increase gambling revenue in this city to $266.23 million. Statewide, sports bettors here placed $487.9 million in legal sports wagers last month. 85% of these bets were placed online.
Altogether, more than $3.5 billion has been spent on sports bets in this state.
“New Jersey sportsbooks have surpassed Nevada’s in recent months, and it continues to show significant promise for the gaming industry,” said Steve Callender, president of the Casino Association of New Jersey and senior vice president of operations for the East Region of Tropicana Atlantic City’s parent company, Eldorado Resorts Inc.“We are optimistic as we approach the end of this year that we will finish 2019 out in a strong position.”
Atlantic City casino revenue and sports betting revenue continue to increase. This city has the potential to become the country’s true gambling center.
Stay tuned for more Atlantic City gambling news over the next few months!