Revel’s Casino Revenue Up In August

Finally some good news for Atlantic City's newest casino.

Revel broke the $20 million mark in casino revenues in August, and Atlantic City's 12 casinos collectively saw their monthly revenue increase by 12.6 percent compared with a year ago.

"Its certainly good news for Revel, they needed to increase their gaming revenue a little bit and I think they've done that, and I think you are going to see that substantially increase over the next year" said Roger Gros of Global Gaming Business Magazine.

But no one was popping champagne corks just yet in the struggling seaside gambling resort: The comparison was to August 2011 when Hurricane Irene forced the casinos to close for three days.

Revel, the city's newest casino, increased its revenues to more than $20 million in August, up more than 14 percent from July. It has been off to a slow start since opening in April, and has remained stuck in eighth place each month in terms of casino revenues.

"There's still a long way to go for Atlantic City and Revel, but it is a positive sign that things are not declining as they had been in the previous few months" said Gros.

Atlantic City's casinos won nearly $314 million last month.