Atlantic City Casino Revenue July 2019
- Atlantic City Casino Revenue July 2019 Calendar Printable Free
- Press Of Atlantic City
- Atlantic City Casino Revenue Reports
- Atlantic City Casino Revenue July 2019 Calendar Printable Free
Atlantic City’s casinos reported just shy of $248.7 million in total gaming revenue last month, a significant decrease from July 2019’s $323.3 million, according to figures released Wednesday. The more revenue you generate, the more taxes you need to pay. In line with the massive amount of revenue generated in 2019, the Atlantic City casinos are expected to pay a tax amount of $152 million. This is a significant 660% increase from the amount that they paid in 2018. In July, the nine operating casinos in Atlantic City earned $323.3 million. This was an increase of 7.8% from the same month in 2018. This was an increase of 7.8% from the same month in 2018. For the first seven months of this year, the casinos earned $1.85 billion.
Over the past year, Atlantic City has grown to become one of the most profitable gambling hubs in the country. New reports show that Atlantic City casino revenue increased massively in 2019’s third quarter. It’s fantastic news for the state and casino companies operating here.
Both sports betting and casino gambling continues to generate revenue here. Let’s take a look at exactly how much money the city’s gambling industry managed to generate over the past several months.
New Reports Show Atlantic City Casino Revenue is Increasing
You can’t cover the US casino industry without talking about Atlantic City. Decades ago, this was one of the most profitable gambling markets in the world. Unfortunately, the recession took a major toll on this city and it seemed on the brink of collapse.
Recently, however, things have improved dramatically. Revenue in this city has continued to increase for almost all of 2019. There are a few major reasons why this is.
The legalization of sports betting is certainly helping. New Jersey made sports gambling legal in May of 2018. Every casino in the state now operates a sportsbook. It’s helped to generate millions of dollars for the state government via taxes. New Jersey now has the most profitable sports betting market in the world.
New reports show that Atlantic City casino revenue increased massively during this year’s third quarter. Gross profit for the three months increased to $26.5 million, representing a 12.5% increase from the same time period in 2018. Atlantic City’s nine casinos generated $928.9 million in net revenue.
Things are looking very good here. Based on the way things are going, this will be the best year in the city’s history.
Which Casinos Generated the Most Money in Q3?
July, August, and September are all popular gambling months. It’s not a huge surprise to see so much money flowing into the casinos during this quarter. Some casinos managed to earn considerably more than others, though.
Borgata Casino generated the most money. It’s the most popular casino in the city and blew all of its competitors out of the water. In total, this gambling venue brought in $210,141,863. Hard Rock Atlantic City brought in the second-most money at $106,663,788.
These properties have reason to celebrate. James T. Plousis, Casino Control Commission Chairman in NJ, states that non-gambling amenities in the city proved successful last quarter, too.
“Positive trends also continued with important tourism indicators,” he said. “Non-gaming amenities continue to create a competitive advantage, and visitors like the diverse dining, entertainment and leisure activities that Atlantic City has to offer.”
Just about every casino had a solid few months. Things are obviously slowing down as winter approaches yet many are still generating more money than they did last year.
Sports Betting Revenue Surges in AC, As Well
There’s never been a better time to be a sports fan in Atlantic City. Sportsbooks in this city are continuing to improve. Both online and land-based sports gambling is legal here. For almost all of 2019, revenue from this industry has increased.
Atlantic City Casino Revenue July 2019 Calendar Printable Free
In October, sports betting helped to increase gambling revenue in this city to $266.23 million. Statewide, sports bettors here placed $487.9 million in legal sports wagers last month. 85% of these bets were placed online.
Altogether, more than $3.5 billion has been spent on sports bets in this state.
Press Of Atlantic City
“New Jersey sportsbooks have surpassed Nevada’s in recent months, and it continues to show significant promise for the gaming industry,” said Steve Callender, president of the Casino Association of New Jersey and senior vice president of operations for the East Region of Tropicana Atlantic City’s parent company, Eldorado Resorts Inc.“We are optimistic as we approach the end of this year that we will finish 2019 out in a strong position.”
Atlantic City Casino Revenue Reports
Atlantic City casino revenue and sports betting revenue continue to increase. This city has the potential to become the country’s true gambling center.
Atlantic City Casino Revenue July 2019 Calendar Printable Free
Stay tuned for more Atlantic City gambling news over the next few months!