Atlantic City Casinos Ranked by Revenue
Atlantic City has seen a steady decline in revenue every year since 2006. Gaming revenue peaked in 2006 at $5.21 billion and has dropped every year since. In 2012, Atlantic City casinos took in just $3.05 billion. That is a decline of 42%. Pennsylvania casinos overtook New Jersey in 2012 to take second place in terms of gaming revenue. These numbers represent the amount won at table games and slots. It does not include hotel, restaurant or retail sales. Gaming revenue is 50% more than nongaming revenue in Atlantic City.
Atlantic City casinos earned a combined $1.02 billion in the first half of 2013. Some Atlantic City casinos have fared better than others. Only 1 of the 12 resorts showed an improvement over last year's first half results.
Here is a list of the Atlantic City casinos ranked in order of casino revenue. The numbers represent the amount earned in the first half of 2013:
Borgata - $223.8 million
Borgata earns nearly double in its casino than its closest competitor. Borgata is a joint venture between Boyd Gaming and MGM Resorts. It opened in July 2003 and was the newest Atlantic City casino until Revel opened in 2012. Borgata's gaming revenue is down 1.9% compared to 2012. Borgata also enjoys a substantial level of nongaming revenue. Borgata has by far the largest and most profitable poker room in Atlantic City.
Harrah's - $133 million
Harrah's continues to produce in a declining market. It is owned by Caesars Entertainment. It opened in November 1980 and is among the oldest casinos in Atlantic City. Its first half 2013 revenue dropped 12.3% against 2012 revenue.
Caesars - $115 million
Caesars is a Caesars Entertainment property. The property opened on the Boardwalk in June 1979. Caesars casino revenue was down 2.6% in 2013 compared to the year before.
Bally's - $91.5 million
Bally's is another of Caesars Entertainment's four Atlantic City properties. It opened in December 1979 on the Boardwalk. Two of its hotels predate legalized gambling. The Dennis Tower opened in 1921, while the Claridge Tower opened in 1930. Bally's has been one of the biggest losers in 2013. Its gaming revenue is down 19.4%.
Trump Taj Mahal - $89.4 million
Trump Taj Mahal was once the highest grossing casino in Atlantic City. This all changed when Borgata opened in 2003. It now struggles to make the top 5. While the casino uses Donald Trump's name, he lost most of his equity in a bankruptcy and currently licenses his name for Trump Taj Mahal and Trump Plaza.
Tropicana - $84.9 million
Tropicana is owned by Tropicana Entertainment, which is majority owned by Carl Icahn. While it shares the same name as a Las Vegas Strip property, the two resorts are not related. Tropicana Entertainment does own a property in Laughlin, Nevada. Tropicana opened in November 1981. It replaced a hotel known as Ambassador. The property is famous for meetings among organized crime members during prohibition. Tropicana gaming revenue is down 13.5% compared to 2012.
Showboat - $72.2 million
Showboat is Caesars Entertainment's lowest grossing casino in Atlantic City. It opened in April 1987 and was acquired by Caesars in 1998. Showboat gaming revenue during the first half of 2013 is down 15.5% over 2012.
Revel - $56.7 million
Revel is Atlantic City's newest casino. The casino opened in April 2012, but only after major delays due to the recession and investor issues. It filed for bankruptcy before its first anniversary. Revel tried to be a resort first and casino second. This business plan flopped as it has not reached goals on either end of the business. Revel was only open for about three months of the first half of 2012 but yet it earned more in that three months than the first six months of 2013. That is quite an accomplishment for a billion dollar property that has already gone through the bankruptcy process.
Resorts - $46.7 million
Resorts opened in May 1978. The property has perennially struggled towards the bottom of Atlantic City casino revenue rankings. Resorts is only down 3.9% from the first half of 2012. This is better than most other Atlantic City properties.
Atlantic Club - $45.8 million
Atlantic Club is the only Atlantic City resort that is positive against its 2012 numbers. It accomplished this by becoming Atlantic City's first casino to market to locals. The property went up for sale last year and entered into an acquisition agreement with Rational Group, parent company of PokerStars. That deal fell through and it appears that Atlantic Club is back on the market.
Golden Nugget - $41.6 million
Golden Nugget was once the Trump Marina. An extensive remodel brought Landry's into the market. The company also owns properties in Biloxi, Las Vegas and Laughlin. The resort now includes many familiar names that are related to the company better known for its restaurants. Golden Nugget is towards the bottom of Atlantic City rankings in terms of revenue. It is a small casino on the marina and relies less on gaming than other properties. It was down 7.6% between the first half of 2013 and 2012.
Trump Plaza - $27.5 million
Trump Plaza earns less gaming revenue in the entire Atlantic City market. It is also the largest loser in terms of year over year revenue. It is down 27.9% over the previous year. The Meruelo Group attempted to acquire the property in 2013. The property's mortgage holders refused the sale and it continues to operate under the Trump brand.