Revel still ranks near bottom in revenue for Atlantic City casinos
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In April, its first month of operation, it won us$ 13.4 million.
In April, its first month of operation, it won us$ 13.4 million. The us$ 2.4 billion casino resort is being counted on to help rejuvenate the struggling gambling market in Atlantic City, but has gotten off to a decidedly slow start.
But Revel Entertainment CEO Kevin DeSanctis said the resort is doing well in the area of non-gambling revenue, and he's confident Revel's plan is working. "We have a little bit different business model," DeSanctis told The Associated Press. "Clearly, our gaming revenue has to improve, and it has been. We're continuing to improve, and our non-gaming revenue is doing really, really well. In June it was up more than 25 percent."
Atlantic City's 12 casinos collectively posted a revenue decline of less than 1 percent in June, winning us$ 274.7 million. That was 0.6 percent less than in June 2011, but was largely the result of a favorable calendar this year, in which June 2012 had two more weekend days than did June 2011. For the city as a whole, slot machine revenue rose 0.6 percent, to us$ 201.6 million, while table game revenue decreased by 3.7 percent, to us$ 73.1 million.
Including Revel, five casinos posted revenue increases, led by another great month at the Tropicana Casino and Resort, which was up 38.3 percent to us$ 22.2 million. The Atlantic Club, which has routinely struggled in recent years, posted a 13.5 percent increase to us$ 13.6 million as it aggressively targets low-rollers and cost-conscious day trippers and vacationers.
Caesars Atlantic City was up 7.5 percent to us$ 31.8 million, while The Golden Nugget Atlantic City was up 4.3 percent to us$ 11.2 million.