How about that?! Atlantic City’s May casino revenue down 65% because of the coronavirus

Harrahs Harrahs

It’s no surprise – May was almost as bad as April for the casinos of Atlantic City. Although city’s casinos were all closed down, the New Jersey Division of Gaming Enforcement claims that the racetracks and gambling establishments elsewhere in the state made 91.1 million dollars in revenue.

That amount is a steep decline of over 65 percent from last year’s numbers. It was not as bad as April was, when the percentage fall was actually 69% compared to 2019. April was all-time biggest year-over-year decline for gambling revenue in the state. So a real historic event.

Lion’s share of the sports getting revenue came from the two open horse tracks – Monmouth Park and the Meadowlands. Other states have been slowly and carefully opening their casinos, but Atlantic City’s casinos will still remain closed and also so far there has been no date set. There are some rumors that gambling establishments will open by July the 4th, but no officials have confirmed that.

The Golden Nugget, which leads New Jersey’s online gambling business, took in the most amount of dollars in May at over 29 million dollars, virtually all of it from online gambling business. (It also additionally won an additional $54,000 from sports betting.) Its performance represented a steep regression of almost seven percent fro m a year earlier, which happened to be the best in Atlantic City in May.

According to APNEWS, Harrah’s reported negative revenue of over $16,000 for the month, compared with revenue of $25.6 million a year earlier. The casino said the loss represented sports bets made before the shutdown that were paid out in May.

Two casinos, Caesars and Resorts, reported no casino revenue, but conduct internet gambling operations through online affiliates. Resorts Digital won $21.4 million online, up 77% from a year earlier, and Caesars Interactive-NJ won $9.4 million, up nearly 110%.

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