New Jersey Casino Revenue Down 3.6 Percent: Revel Sees Improvements

Written by:
Associated Press
Published on:
Aug/09/2013
New Jersey Casino Revenue Down 3.6 Percent:  Revel Sees Improvements

ATLANTIC CITY, N.J. — (Associated Press) - An aggressive slot refund promotion helped Atlantic City's newest casino to a banner month in July, but most of the rest of the casinos got off to a cool start as summer heated up.

The casinos won $297.2 million from gamblers in July, down 3.6 percent from $308.2 million last July.

They won $215.5 million from slot machines, and an additional $81.7 million from table games last month.

The biggest increase was posted by Revel Casino Hotel, which began a "you can't lose" slots refund promotion in July. Revel's monthly revenue went up more than 33 percent, to nearly $23.4 million, for its best month ever.

"We have made it clear that at the new Revel Casino Hotel, gamblers are wanted, and they have clearly responded," Jeffrey Hartmann, interim CEO of the casino that emerged from bankruptcy court in May, said in a statement. "We are deeply grateful that many Atlantic City gamblers are giving us a second chance."

The way Revel refunded losses — gradually crediting them back to a player's club card over several months — had angered some gamblers. In an interview Friday, Hartmann said he is concerned anytime a guest has a negative experience at Revel, but believes the terms of the promotion were made sufficiently clear.

The casino doubled its market share to nearly 8 percent in July. Hartmann said some guests came from more than four hours away, leading him to believe that Revel helped expand the overall Atlantic City market for the month as opposed to simply stealing existing customers from other casinos here.

He also said he is optimistic Revel can continue to increase its market share in coming months. Several additional attractions will be announced after Labor Day, he said.

The Borgata Hotel Casino & Spa was up nearly 19 percent to $64 million. Executive vice president Joe Lupo said the casino profited from displeasure with Revel's slot promotion.

"We clearly benefited from the perception that some properties in this city made their customers jump through hoops," he said.

Resorts Casino Hotel continued to benefit from its new Margaritaville bar, restaurant and gambling complex as it saw a 6.2 percent increase to nearly $14 million.

Nine casinos saw their revenue decline in July, led by the Tropicana Casino and Resort, which fell 26 percent to $20.6 million due largely to an unlucky month at table games. Trump Plaza Hotel Casino was down nearly 25 percent to $8.1 million; the Showboat Casino Hotel was down 19 percent to $18.6 million; and Bally's Atlantic City was down nearly 14 percent to $24.2 million.

Harrah's Resort Atlantic City was down 10.7 percent to $34.8 million; the Trump Taj Mahal Casino Resort was down 10.6 percent to $26.5 million; and Caesars Atlantic City was down 4.6 percent to $35.2 million.

The Atlantic Club Casino Hotel was down 3 percent to nearly $14.2 million, and the Golden Nugget Atlantic City was down 1.6 percent to nearly $13 million.

For the first seven months of the year, Atlantic City's casinos won $1.68 billion, down 9.6 percent from the same period last year.

Wayne Parry, Associated Press

 

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