Gambling revenue for Atlantic City’s casinos plunged by double figures in January, suggesting that lingering effects from Hurricane Sandy continue to weigh down the market.
Overall, the 12 casino hotels took in $205.6 million in revenue from their slot machines and table games, down 13 percent compared to $236.9 million in January 2012, according to figures released Monday by the New Jersey Division of Gaming Enforcement.
Atlantic City is still trying to recover from the hurricane’s damaging blow. First the casinos had to deal with a week-long hurricane shutdown starting Oct. 28 that cost them an estimated $5 million a day in lost revenue. Gambling revenue declined in October, November and December as the market slowly tried to rebuild in Sandy’s aftermath.
All of the casinos that were open in January 2012 had lower revenue this January except for the Atlantic Club Casino Hotel, which was up 15 percent. Trump Plaza Hotel and Casino was the worst performer, declining nearly 41 percent.
Revel, Atlantic City’s newest casino, continued to disappoint. Revel, which opened last April, had just $7.9 million in gambling revenue in January, good for only 11th place. Month after month, Revel has been mired near the bottom of the pack since it opened.