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-6.5%

January 14, 2016

In the midst of a discussion of a state takeover of Atlantic City, it’s interesting to read the most recent financial statements from the state’s Division of Gaming Enforcement.

Atlantic City’s gaming revenues dropped 6.5 percent in 2015, less than the 8.7 percent drop in 2014. The biggest comparative losses were assigned to Bally’s and Harrah’s -- neither of which had Internet gaming to bolster a continuing loss at the tables.

By adding Internet gaming, Borgata, Golden Nugget, Resorts, and the Tropicana actually increased gaming revenues in 2015. The Borgata, in particular, seems to be benefiting from the downsizing of Atlantic City; it increased its regular casino wins by 10.3 percent, plus it also increased its revenues through Internet games by 10 percent for a combined total of $59 million.

The average casino revenues of surviving Atlantic City casinos were up 3.1 percent over 2014, for a total of $2.56 billion. Total state tax revenue for 2015 was $197 million.

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