Hurricane-free weather and the newly opened Revel megaresort could give Atlantic City’s struggling casino industry its first monthly revenue increase since last December.
Hope is building that revenue figures for August, scheduled for release today, will finally push the 12 casino hotels higher.
Casinos should have an easy comparison to August 2011. Last year, Hurricane Irene, downgraded to a tropical storm by the time it lashed New Jersey on Aug. 28, forced the casinos to close during a prime summer weekend. The shutdown cost them millions of dollars in business.
This August will also include gambling revenue from Revel, the $2.4 billion luxury resort that was not open this time last year. Revel is looking for some momentum since getting off to a lackluster start following its April 2 opening.
The New Jersey Division of Gaming Enforcement is scheduled to release the August revenue report at 2 p.m. So far, gambling revenue has been down each month in 2012 compared to last year, as the sluggish economy and competition from casinos in surrounding states continue to hurt Atlantic City.