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Atlantic City Revenue Boosted by Superstorm Sandy

Atlantic City Revenue Boosted by Superstorm Sandy

Last month saw Atlantic City’s casino revenue increase by more than 27% compared to a year ago. However, the massive increase is only because Superstorm Sandy forced the casinos to close for almost a week in November last year.

Atlantic City Revenue Boosted by Superstorm Sandy

In November 2012 Atlantic City’s casinos were forced to close due to Superstorm Sandy which means that this year’s revenues look strong in comparison.

The 12 casinos made $224.7 million last month compared to $176.6 million last year. The casinos also saw an increase in revenue of 3.6% for October this year which makes it the first time Atlantic City has recorded back-to-back monthly increases since August and September 2006.

The 27.2% increase in revenue is the second-largest in the 35 years since casino gambling began in New Jersey, in February 2004 the casinos enjoyed an increase of 30.1%.

Only one casino, the Trumpet Plaza Hotel and Casino, saw revenues drop this November compared to last year, it took $4.8 million, down 2.6%. The Revel Casino Hotel saw the biggest increase in revenues; it was up 133% to $14.5 million compared to the $6.2 million it took last November.

Next month the state will begin reporting online gambling revenues which could have a significant impact on the statistics. According to the state Division of Gaming Enforcement over 71,000 people have signed up for online gambling.

OCA News Editor