The April, 2015 Gaming Revenue Results were released by the New Jersey Division of Gaming Enforcement (NJDGE) at 2:00 PM, Tuesday, May 13, 2015.
The drama continues as the new owner of the former hotel/casino known as The Revel, Glenn Straub, continues to make headlines by supposedly paying $5,000 a day fines for lack of electricity. The next hearing is scheduled the day after Memorial Day.
It is a good thing that this story is dominating the headlines. Otherwise, the doom and gloom continues with another month of sliding casino revenues.
Total Gaming Win from the Casino Hotels was $199.0 million in April 2015 compared to $235.9 million April 2014 (including Discontinued Operators – Atlantic Club, Showboat, Revel, and Trump Plaza) reflecting a 15.6% decrease.
For the month, Casino Win was $186.3 million, and Internet Gaming Win was $12.7 million. Internet Gaming in March 2014 was $11.4 million (including Discontinued – Ultimate Gaming).
2015 March Poker was 15.6% of Total Internet Revenue versus 22.7% in 2014.
2015 March Casino was 84.4% of Total Internet Revenue versus 77.3% in 2014.
ONLINE GAMING RESULTS
The NJDGE official report for April Online Poker revenues, April vs. March, $1.98 million to $2.27 million, DOWN by 12.7%, and Casino Games, $10.70 million versus $10.94 million, Down by 2.2%. Total New Jersey Online Revenue was $12.7 million, Down by 3.9%.
The Borgata and Party Poker (including Pala Entertainment) combination continues to lead as the top revenue producing I-Gaming site(s) in New Jersey with a 31.44% share (First in poker, second in casino games).
Golden Nugget/BetFair combination secured a revenue share of 26.0%, surging back into second place in total, and Number 1 in casino games.
The Tropicana, with only casino games, dropped to third place for the month with a 21.5% revenue share, all the way to #3 in casino games in April after leading the field in March.
Caesar’s Interactive (CIE) plunged to fourth place with 19.3% (Second in poker, fourth in casino games). In spite of the upcoming World Series of Poker buzz, the Bankruptcy is a black cloud hanging over the group.
RESORTS online casino games contributed 1.67% of overall online revenue while continue the wait for any movement by the NJDGE to approve Poker Stars.
The Online Poker Numbers showed Party and Borgata increased its edge over Caesar’s/888 for the month 56.7% to 43.3% thanks to the NJCOP II.
The Month to Month comparison of Internet Gaming Figures: Online April 2015, $1.98 million versus April 2014’s $2.59 million, a substantial DECREASE of 23.5%. Online Casino numbers fared better: April 2015 $10.7 million versus $8.8 million in April 2014, a 21.5% INCREASE.
Granted, the initial awareness was for online poker versus casino games continued during April 2014. Ultimate’s (now gone) online poker client was still in existence. Total Casino and Poker revenue for 2014 and 2015 month to month was $12.7 million versus $11.4 million, an increase of 11.4%.
Golden Nugget/Betfair, The Tropicana and now Resorts have continued to secure a larger market share.
BRICK & MORTAR POKER RESULTS
Atlantic City Brick and Mortar Poker revenues were $2.96 million in April, an increase over March of $685K. The Borgata Spring Open was in town and the numbers reflect it.
The Borgata had 65.9% of the Revenue Share; Caesars two poker rooms had 22.8%.
The Tropicana revenue suffered and dropped to 8.4% and the Golden Nugget had a paltry 2.7%.
The expectation for April was positive. There would be an influx of poker players in town to play the B&M Borgata Spring Poker Series. In addition, the online poker sites hoped that these brick and mortar players would sign-up and play the NJCOP II Online Series.
Unfortunately, it did not come to fruition, and many of the Borgata/Party Poker tournaments had to pay substantial overlays. Good for the players, not so good for the sites.
This month the unofficial start of tourist season starts early, Friday May 22nd. Good Luck Atlantic City!