{"id":67509,"date":"2018-01-16T16:56:13","date_gmt":"2018-01-17T00:56:13","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=67509"},"modified":"2018-01-16T16:58:07","modified_gmt":"2018-01-17T00:58:07","slug":"atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/","title":{"rendered":"Atlantic City Celebrates Second Consecutive Year of Gaming Revenue Growth in 2017"},"content":{"rendered":"

The numbers are in, and New Jersey casinos are back. That\u2019s the word from gaming officials in the Garden State after gross gaming revenue increased slightly in 2017, even after modest dip in December.<\/p>\n

\"Atlantic
The seven operating casinos in Atlantic City saw gross gaming revenues go up in 2017, but some are worried about increased competition. (Image: Pinterest)<\/figcaption><\/figure>\n

New Jersey\u2019s seven casino resorts increased their annual revenues by 0.3 percent, year-on-year, to $2.41 billion, according to figures by the state\u2019s Division of Gaming Enforcement.<\/p>\n

It was the second consecutive annual gain, and the first time that has happened in New Jersey since 2006.<\/p>\n

The casinos were also helped by a cumulative $245 million in internet gambling winnings, an increase of nearly 25 percent compared to 2016.<\/p>\n

James Plousis, who took over as the new chairman of the New Jersey Casino Control Commission in December, told the Allentown Morning Call<\/em> that the figures show a resurgence of Atlantic City\u2019s financial health after about a decade in which five of the state\u2019s 12 casinos closed.<\/p>\n

\u201cEvery single casino won more, and every internet operation reported an increased win last year,\u201d Plousis said. \u201cTotal internet win had its fourth straight year of double-digit increases. It shows an industry that is getting stronger and healthier and well-positioned for the future.\u201d<\/p><\/blockquote>\n

The annual gaming numbers finished showing growth despite December revenues that dropped 1.8 percent year-over-year to $186.23 million<\/p>\n

Signs of Rebound<\/h2>\n

The Borgata was the leader among the casinos, taking in $800 million from gamblers, a jump of 4.4 percent from the previous year. The Tropicana, which was left for dead in 2007 with no casino license and rumors of bankruptcy, is now the No. 2 gaming establishment, pulling in $390 million for the year, an increase of 14.6 percent.<\/p>\n

Harrah\u2019s experienced a modest 1.6 percent increase, but was third at $363 million. Caesars followed at $325 million, up 7.6 percent. The Golden Nugget rose 14.4 percent to $288 million.<\/p>\n

Bally\u2019s almost broke the streak of percentage increases, rising just 0.1 percent, but still earning $211 million. Resorts Casino Hotel<\/a>, which opened in 2015, brought in the least amount at $190 million, but still, that represented a 10 percent increase compared to 2016.<\/p>\n

Welcome Competition?<\/h2>\n

The health of the seven casinos will be tested this year when two more resorts join the boardwalk. Both the Taj Majal, rebranded as the Hard Rock Hotel and Casino, and the old Revel, recently bought and renamed the Ocean Resort Casino<\/a>, are expected to open by the summer.<\/p>\n

Some remain optimistic and are confident the new resorts won\u2019t affect the other seven\u2019s balance sheets. Mark Giannantonio, president of Resorts, told the Associated Press<\/em> that he doesn\u2019t believe the new additions will have a negative affect.<\/p>\n

\n

\u201cI\u2019m extremely optimistic about Atlantic City and the industry in 2018,\u201d Giannantonio said. \u201cWe\u2019re very excited about the renaissance of Atlantic City. We think it\u2019s for real.\u201d<\/p>\n<\/div>\n

Others are not so convinced. Fitch Ratings gaming analyst Colin Mansfield told the\u00a0Press of Atlantic City<\/em>\u00a0that another new casino could put revenues of those currently operating in jeopardy.<\/p>\n

\u201cThere is a healthy level of profitability when it comes to gross gaming revenues,\u201d Mansfield said. \u201cThe market is in a good spot. The introduction of two [new] properties is not great for Atlantic City.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The numbers are in, and New Jersey casinos are back. That\u2019s the word from gaming officials in the Garden State after gross gaming revenue increased slightly in 2017, even after modest dip in December. New Jersey\u2019s seven casino resorts increased their annual revenues by 0.3 percent, year-on-year, to $2.41 billion, according to figures by the […]<\/p>\n","protected":false},"author":42,"featured_media":67510,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,19,18],"tags":[],"acf":[],"yoast_head":"\nAtlantic City Celebrates Second Year in a Row of Gaming Revenue Growth<\/title>\n<meta name=\"description\" content=\"Atlantic City casinos seem to have some staying power, after reporting their second consecutive year of annual revenue gains in 2017.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlantic City Celebrates Second Year in a Row of Gaming Revenue Growth\" \/>\n<meta property=\"og:description\" content=\"Atlantic City casinos seem to have some staying power, after reporting their second consecutive year of annual revenue gains in 2017.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-17T00:56:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-01-17T00:58:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/01\/AC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"456\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/\",\"url\":\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/\",\"name\":\"Atlantic City Celebrates Second Year in a Row of Gaming Revenue Growth\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/01\/AC.jpg\",\"datePublished\":\"2018-01-17T00:56:13+00:00\",\"dateModified\":\"2018-01-17T00:58:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Atlantic City casinos seem to have some staying power, after reporting their second consecutive year of annual revenue gains in 2017.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-celebrates-second-year-in-a-row-of-gaming-revenue-growth\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/01\/AC.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/01\/AC.jpg\",\"width\":700,\"height\":456,\"caption\":\"The seven operating casinos in Atlantic City saw gross gaming revenues go up in 2017, but some are worried about increased competition. 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