The August 2016 Gaming Revenue Results were released by the New Jersey Division of Gaming Enforcement (NJDGE) at 2:00 PM Wednesday, September 14, 2016.
The unofficial end of summer came swiftly, and from a gaming perspective, quietly. Days ahead of the Labor Day weekend, the weather forecasters sent beach goers home early, and it reflects in this month’s numbers.
We will wait until next month to see the final impact of “The Not Tropical Storm” Hermine that forced the struggling Mayor of Atlantic City, Don Guardian to cancel revenue producing beach concerts.
But that is only part of the continuing negative story in “America’s Playground”. (More Below)
Total Gaming Win from the Casino Hotels was $245.9 million in August 2016 compared to $258.6 million August 2015 reflecting a 4.9% Decrease.
For the month, Casino Win was $229.8 million and Internet Gaming Win was $16.1 million. Internet Gaming in August 2015 was $12.2 million.
2016 August Poker was 13.5% of Total Internet Revenue versus 16.2% in 2015.
2016 August Casino was 86.5% of Total Internet Revenue versus 83.8% in 2015.
ONLINE GAMING RESULTS
The NJDGE official report for August Online Poker revenues show August versus July, $2.17 million to $2.01 million, Up 7.4%, and Casino Games, $13.9 million versus $15.4 million, DOWN by 9.7%. Total New Jersey Online Revenue was $16.07 million DOWN by 7.5%.
The Borgata and Party Poker including Pala Entertainment combination continued as the leading revenue producing I-Gaming site(s) in New Jersey with a 23.2% share. It retained second place in casino games, but continued in third place on the online poker scoreboard.
Golden Nugget/BetFair established a revenue share of 21.6%, second place overall and remained strongly in first place in casino games. Visible late night TV commercials continued during the month.
Caesar’s Interactive (CIE) continued to be embedded in third place with 19.4% (Edging farther ahead in second place in poker surpassing Borgata/Party Poker, and continuing to hold fourth in casino games).
Resorts moved up a place to fourth overall with an 18% share. PokerStars increased its contribution to 29.8% of the total revenue versus 22.4% for 888/WSOP poker and a 16.2% contribution by Borgata/Party Poker.
The Tropicana sank to the basement (fifth and last place) in total internet revenue with a 17.7% revenue share, and 3rd in casino games.
The Online Poker Numbers leader PokerStars/Resorts at 39.8% is not as dominant as first expected. Caesar’s WSOP/888 retained second place with 32.2% beating Party and Borgata’s 28.0% market-share. Online Poker revenue was UP 9.6% versus August 2015.
Total Casino and Poker revenue for 2015 and 2016 was $12.2 million versus $16.1 million, the $3.85 million movement produced a 31.5% increase that is a drop from the 38% comparable increase from last month.
BRICK & MORTAR POKER RESULTS
As usual without a major tournament in town, the Brick & Mortar Poker revenue dropped this month by $641K. The Borgata (84 Tables) still led with a 57.4% Revenue Share.
Caesars (82 Tables) two poker rooms increased to 25.0% from last month’s 19.9% contribution.
The Tropicana (22 Tables) revenue share increased to 10.9% from 9.3%.
Trump Taj Mahal (24 Tables) will again close its poker room shortly (see below). The 3.4% market share from the once proud room precedes its curtain call.
The Golden Nugget (10 Tables) had a normal month achieving only 3.2%.
OTHER ATLANTIC CITY HAPPENINGS
The Miss America Pageant brightened the Boardwalk for two weeks? For those who care, Miss Arkansas, Savvy Shields won the competition. Its relevancy is up there with – why is Atlantic City still attempting to hold on to its place as a Casino Town only?
As we reported last month, the labor dispute continues at the Taj Mahal. In addition, the Icahn Organization did submit its plan to close the “House that Trump Built” on October 10th with some table games being shut on September 26th.
On an even more critical note, tomorrow may be the day that the City goes into default on the $73 million New Jersey State Loan that is making the city solvent. If the City is unable to agree, the inevitability of bankruptcy is on the near horizon.
Summer Ends. Does that mean no one will meet me “Down to the Shore”? Stay tuned.