May is not so merry for operators of Atlantic City's casinos

David Madden
June 14, 2018 - 8:31 pm

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ATLANTIC CITY, N.J. (KYW Newsradio) — Newly released revenue numbers from Atlantic City's seven casinos might make some worry. But not casino regulators.

Figures from the Division of Gaming Enforcement for the month of May show the so-called "casino win" — general gaming profits — at $193 million, which is down 7.2 percent from the same month a year ago. 

"We had some lucky winners there from the players side last month," Casino Control Commission Chairman Jim Plousis said. "The house doesn't always win. So we see ups and downs like this."

Total revenue loss was softened a bit by a 15 percent increase in internet gaming over the term, but still came in a little over 5 percent in the red. 

But Plousis sees blue skies ahead this summer. After all, two new casinos are opening up in two weeks. 

"Hard Rock's going to bring in new people. Ocean's going to bring in new people," he added. "The sports betting, you feel the energy. So I think the numbers are going to definitely increase."

And the weather won't hurt either. 

Caesars saw revenue drop 24 percent in May compared with May of last year. Golden Nugget saw their profits rise 15 percent over the same term.