"The year 2016 went out with a bang at the casinos, thanks to a 15 % jump in casino revenue for December,” said Casino Control Commission Chairman Matthew Levinson, referring to the seven surviving casinos.
Despite the closing of Trump Taj Mahal Casino Resort, the industry saw its first annual revenue increase in a decade, according to state Division of Gaming Enforcement figures. Atlantic City’s thriving internet gaming market fuelled the traditional casino revenues, which were actually down 0.3 % to USD 2.4 illion compared to 2015.
Online gaming operations such as PokerStars play a huge role in gaming revenue growth, said Colin Mansfield, a casino analyst with Fitch Ratings. "Overall, the gaming numbers met our expectations,” Mansfield said. "We see it as a USD 2.4 billionn market for the next couple of years. There aren’t huge catalysts that are going to push it in either direction.”
"Every casino licensee reported increased revenue, including two that are internet-only licensees,” Levinson added. "I look forward to this trend continuing in 2017.”
Source: GMB / pressofatlanticcity.com
