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Atlantic City Sees Rise in Online Gambling

Atlantic City Sees Rise in Online Gambling

January’s cold weather resulted in fewer visitors to Atlantic City’s casinos but it also resulted in an increase in online gambling.

The city’s eight casinos took in $190.1 million last month but this was a decrease of 3.8% compared to January 2015. However, internet gambling revenue was up 26.5% compared to last year to a total of $14.6 million. January started well for the casinos but a blizzard later in the month resulted in a dramatic drop in visitor numbers.

However, four casinos saw revenue increases led by the Tropicana which was up 6.6% to $24 million. As usual the Borgata had the highest monthly revenue at $56.6 million. The Trump Taj Mahal was also up 2.3% to $12.4 million. The latest figures show the importance of internet gambling to the city’s casinos and there is growing confidence that it could lead to a reversal in fortunes for the struggling industry.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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