Sandy Has Big Effect on Atlantic City Casino Revenues

Sandy Has Big Effect on Atlantic City Casino Revenues

 

While the 12 New Jersey casinos were not damaged by the storm, they were still forced to close for four or more days, resulting in a huge loss of revenue. In October, when Sandy hit, revenue was down 19.9 percent at the casinos. This was a slightly larger drop than when Hurricane Irene hit in August of 2011 and revenues dropped 19.8 percent.

Slot machine revenue was down 21.8 percent and revenue from table games was down 14.6 percent. Revel Casino Resort, Atlantic City’s newest casino, had its worst month ever with revenues of just $9.3 million.

All 12 casinos saw drops in revenue, but the Trump Taj Mahal Casino Resort saw the largest decline with a 38 percent drop in revenue when compared to last year. 

City and state officials hope that since there was no major damage, the casinos numbers will return to normal this month. 

American Casino Guide