Did You Know Atlantic City’s Casinos Collect A 5 Percent Revenue Rise In November? November 2017 was a good month for the Atlantic City Casino industry. The remaining seven casinos have a revenue collection of $206.4 million in November. This figure represents a 4.6 percent gain when you compare it with the same month in 2016. More than 12 months ago, Atlantic City gaming facilities collected $197.2. During this period, the city has eight facilities. But now, the number of facilities is 7. With one facility down, you will expect a drop. But that is not the case here.
When you look at the environment, it is evident that summer is over. But action inside gaming Atlantic City facilities is hot. Anything that has a rise in revenue increment in the city is good news. Various gaming stakeholders are happy. Gambling investors are reaping good fruits of their hard labor.
One of the latest investments is that of Hard Rock. The operator is using $500 million to revamp the former Trump Taj Mahal. News about casino revenue increase makes such companies happy.
Contributors While the entire gambling sector records a rise; some departments are leading. There is a strong performance in the table games sector. This department alone brings in some $54 million. This new record is more than 7.6 percent higher than last time. The other great performer is the online sector. As you can imagine, a lot of people love placing bets online. This department collects some $20.6 million. The figure represents a surge of 20 percent.
Year to year revenue collection is also going up. The new surge is $2.45 billion. This figure is more than 2.4 percentage surge from last years. But there is nothing to be happy about. This year, 2017, marks the second year of gain in a row. Remember that Atlantic City casinos record nine straight years of decline. The period is between 2007 and 2015.Learn how many US states have casinos over here.
Atlantic City, a beachfront gaming hotbed has many ways to reclaim its glory. Already, there are signs of a massive comeback. The two straight years are a clear indicator that good things are on the way.
The city’s all-time win comes in 2006 just a year before a big decline. This time, casinos in Atlantic City record $5.2 billion. But the ground is set for a good thing. The city is coming from a long way. Many people still remember where the City of Atlantic comes from.
Since 1976, the time gambling is legal; the city goes through many steps. To date, there are many challenges. At one point, operators shut down several casinos. Speaking of how things are moving on, many people see changes. One of them is the outgoing New Jersey Casino Commission (CCC) chairman.
Matthew Levinson says that this is not magic. The city is not waking up to such changes. It deserves the changes. “This isn’t luck. It is evident that business is building here in the City. Things are changing for the better of everyone. If you are putting money into gaming, you need to do so confidently. It is working. Business is building,” Matthew Levinson says. The outgoing CCC chair is confident that the Atlantic City casino industry is regaining shape.