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.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.