Borgata Increases Its Market Share In Atlantic City

Closures bring better business for survivors in a troubled market

Reduced competition following land casino closures in Atlantic City may be a factor in the increased revenues posted this week by Boyd Gaming for its Borgata interests.

The Borgata's revenue increased by nearly 5 percent to $209.9 million in the third quarter, increasing its share of Atlantic City's gambling market to 24 percent.

$6.1 million of the revenues came from the Borgata's market-leading online gambling operations in New Jersey.

EBITDA of $56.9 million was up by ovr 22 percent compared to the same period in 2013 as the operation benefited from a tax settlement with the city of Atlantic City that contributed $8.1 million to earnings.

Parent group Boyd claims that the improvements started to show before the closings of three Atlantic City competitors this summer (see previous InfoPowa reports).

"In September, we began more active efforts to attract some of these customers to our database," a spokesman said.

"We have gained some customers, but we're not going to overspend to do it. We would like to see these properties stay open, but if they close and their customers are available, we'll certainly try to attract them to the Borgata."

Four of Atlantic City's 12 casinos have closed so far this year, including three — the Showboat, Revel and Trump Plaza — in a two week period during the summer.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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