The Short Take:
- Borgata had the highest monthly win per gaming table in October, coming in at over $86,000 per table
- After only being in business for a few months, Hard Rock had the second highest win per gaming table in October, winning over $53,000 per table
- Many casinos saw steep decreases in their win per gaming table in October including Harrah’s, Caesars, Bally’s and Golden Nugget
As we discussed in an earlier article, the Atlantic City casinos’ wins from table games increased 16% in October on a year-over-year basis. Overall, the nine casinos won $56.3 million at their gaming tables during the month.
Another way to look at the table games wins is to look at how much each casino won per gaming table during the month. To do this we take two numbers that are reported to the state of New Jersey by each casino: the total table games wins for the month and the number of tables in each casino.
Here’s a look at that data:
|October 2018||Total Table Wins||# Tables|
When we divide the total table games wins by the number of gaming tables at each casino, we see that Borgata (MGM) has, by far, the highest win per gaming table during October. In fact, its $86,700 of wins per table was over $30,000 more than its next closest competitor. That competitor happens to be one of the new casinos in town – the Hard Rock. After just a few months in operation, Hard Rock generated over $53,000 in wins per gaming table during October.
The chart below shows the win per table in October 2018 on the left side versus the win per table a year earlier, October 2017, on the right side:
As you can see, many casinos saw their win per gaming table tumble from 2017 to 2018. This is most likely due to the two new casino openings. Three notable casinos to take a look at are Harrah’s, Bally’s and Caesars. All three of these casinos are owned by Caesars Entertainment (CZR) and all three saw dramatic declines in their monthly wins per table. Golden Nugget also saw significant year-over-year decreases.
On the bright side, several casinos did see year-over-year increases in wins per gaming table. Borgata had both the highest win on an absolute basis, but it also increased that win by more than $11,000 per table from October 2017 to October 2018.
Tropicana (ERI) saw significant increases in its wins per table, rising $17,000 per table YoY. It should be noted that the October 2017 table game wins for the Trop are probably skewed by a run of bad luck since they are significantly lower than usual. One other casino that saw YoY increase in wins per table was Resorts which is at the lower end of the spectrum and saw its wins per table increase by almost $3,000 per table.
We are really starting to see the effects that the two new casinos are having on some of the legacy casinos. Some, like Borgata and Tropicana, are holding their own while others like Harrah’s and Caesars are suffering. All of the casinos will need to be creative to win back and keep their customers from the shiny new casinos on the Boardwalk.