Friday, June 12, 2015

Atlantic City - Existing Properties Stabilizing

May 2015 brought mixed results for Atlantic City.

The good news is revenue at existing casinos was up 5.3%.

The bad news is the total market (including closed properties) was down 9%.

Those numbers include internet gaming, which was up 19% over May 2014.

Existing Atlantic City properties seem to be stabilizing with decreased local competition. Regional competition however continues to be fierce, and won't let up anytime soon. Massachusetts, New York, and Maryland (National Harbor) all have new projects on the horizon that have the potential to eat into AC's revenue numbers. Internet might be a saving grace for New Jersey, but it's only a matter of time before the other states catch up in that arena.