ATLANTIC CITY — January was a chilly month for the city’s casinos, which saw 3.8 percent less gambling revenue than in January 2015, industry regulators reported Friday.
Revenue from the city’s brick-and-mortar casinos was down 5.6 percent. The casinos were buoyed, though, by a 26.5 percent increase in Internet gambling revenue.
Total revenue last month was $190.1 million, down from $197.5 million in January 2015.
“You’re seeing quite a bit of decline,” said Alex Bumazhny, a casino analyst for Fitch Ratings. “Some of that we attribute to the snowstorm. ... That basically killed (a) whole weekend in January.”
Half of the city’s eight casinos reported year-over-year decreases in January revenue.
Borgata Hotel Casino & Spa, an industry paragon that’s coming off a strong 2015, saw revenue dip 7 percent in January. Bally’s Atlantic City and Caesars Atlantic City were down 12.3 percent and 13.5 percent, respectively.
Harrah’s, the city’s other Caesars Entertainment casino, was down 9.6 percent.
Borgata’s slot revenue increased 4.5 percent in January. But like Caesars, Borgata reported a sharp drop in table-game revenue, which has a lot to do with gamblers’ luck. A few hot streaks by high rollers can take a deep bite out of sales.
Tropicana Casino and Resort led the market last month, in both absolute and relative terms, reporting nearly $1.5 million, or 6.6 percent, more gambling revenue than in January 2015.
Golden Nugget Atlantic City and Resorts Casino Hotel were up 4.6 percent and 3.1 percent, respectively.
And Trump Taj Mahal, which is reorganizing its finances in U.S. Bankruptcy Court, reported a rare monthly gain. The casino was up $275,000, or 2.3 percent, in January.
“This was the first month in a long time that they had some growth,” Bumazhny said.
That was a silver lining in an otherwise dreary report released Friday by the state Division of Gaming Enforcement.
Atlantic City gambling revenue has decreased for nine straight years. The industry generated $2.56 billion in 2015. It peaked in 2006 at $5.22 billion.