Atlantic City’s casino industry revenues were up 3.6 percent in October over the same month in 2012 — just the third time since the economic collapse in Sept. 2008 that the industry’s combined revenues exceeded the revenues of the same month from the previous year.

But like the two previous upticks, the increase announced by the state Casino Control Commission on Tuesday came with a caveat: Superstorm Sandy forced casinos to close for a week last year beginning on Oct. 28.

The state’s 12 casinos also had a monthly increase in December 2011, one year after a post-Christmas blizzard in 2010. The other monthly increase compared to 12 months earlier was in August 2012, one year after widespread flooding from Tropical Storm Irene.

The industry peaked at $5 billion in revenues in 2006, but a steady decline ever since is expected to produce less than $3 billion in revenues in 2013.

The October increases came even though Trump Plaza (down 24.3 percent), Tropicana (down 14.6 percent), and Bally’s (down 12.9 percent) all posted double digit decreases. The biggest improved numbers were at Revel, up 21.1 percent; Borgata, up 13.2 percent; and Golden Nugget, up 10.1 percent. The Atlantic Club, which recently filed for Chapter 11 bankruptcy protection, was up 9.5 percent over last October.

The casinos took in a total of $2.4 billion before expenses in the first 10 months of 2013, down 8.3 percent from 2012.

Email: brennan@northjersey.com Blog: northjersey.com/brennan

Tags: Business | Business News
– See more at: http://www.northjersey.com/news/2315700 … AlTP0.dpuf

Replies:

No replies were posted for this topic.