Atlantic City Freeze Chills Casino Earnings
Atlantic City has not had the best start to the year in 2018. Casinos in AC saw revenue drop nearly 10% in January, due to poor weather and severe blizzards. The snow blanketed large portions of the city, with as much as two feet of snow in some placed. As you’d expect, this had a negative impact on the number of people visiting the casinos.
Casinos Suffer From Atlantic City Blizzard
The poor start to 2018 has come after Atlantic City experienced two consecutive years of improved revenue. The casinos in Atlantic City were looking forward to a third consecutive year, and January’s earnings will make this a little more difficult. The snowstorm hit the city on the 4th of January, and very few gamblers braved the conditions to visit the casinos.
Due to this, revenue dropped to $184.3 million, which is 20.3 million less than January 2017. Winnings from all forms of gambling were down across the board. Slot machines kept 11.4% less money, while winnings from table games dropped 15%. In total, the revenue from the casinos dropped by 12.6%.
Online Casinos Boom During AC Chill
The Borgata continues to be the dominant casino in Atlantic City, with a revenue of $57.77 in January. This was more than double the second-place casinos, the Tropicana, which made $26.18 million. The good news for Atlantic City’s casinos is that the weather didn’t negatively affect online casinos.
In fact, January saw wins for online casino operators increase by 17%, generating $22million. The Golden Nugget saw its online operations increasing a massive 52.8%, winning $7.3 million. As it stands right now, no other online casinos in New Jersey have managed to earn more than $5 million in a single month. The next biggest online casino was Borgata, which took in $4.15 million.