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Caesars CEO: Promotional spending ‘unnecessary’: Mr. A.C. Casino

Caesars CEO: Promotional spending ‘unnecessary’: Mr. A.C. Casino

Darryl McEwen

{standaloneHead}Darryl McEwen{/standaloneHead}

In a conference call this month, Caesars Entertainment Inc. CEO Tom Reeg told investors and financial analysts “not to expect a return of promotional spending in regional markets,” calling them “unnecessary.”

Barry Jonas, director of equity research/gaming at Truist Securities, agreed, saying perks — free slot and table play, meals and rooms — may not be at the same level again because many are considered loss leaders.

Countering this philosophy is Ocean Casino Resort’s Chief Marketing Officer and Senior Vice President Mike Donovan.

“We are going to have the most aggressive offers in town,” Donovan told PlayNJ.com. “We are going to put casino customers first in absolutely everything we do.”

Ocean must be doing something right because its total revenue is up 23.1% year over year; its slots win of $17.2 million is a 10.5% increase. And that’s comparing July 2020 to July 2019, when casinos were operating at full capacity.

Only Hard Rock Hotel & Casino Atlantic City had a better month with $18.7 million in slot revenue.

Harrah’s Resort, Caesars Atlantic City, Tropicana Atlantic City and Bally’s Atlantic City — all part of Caesars Entertainment — followed in third through sixth places, respectively.

Golden Nugget online reports record quarter

Turning to online gaming, for the three months ending June 30, Golden Nugget Atlantic City reported gross gaming revenues of $28.2 million from its online New Jersey operations. Compared with $15.3 million during the same period in 2019, that’s an increase of 85%.

Golden Nugget Online Gaming since has entered into a transaction agreement with Landcadia Holdings II Inc. to become an indirect, wholly owned subsidiary. Landcadia, a special-purpose acquisition company, will change its name to Golden Nugget Online Gaming Inc.

GNOG Senior Vice President and General Manager Thomas Winter said, “Our second quarter beat our target, supported by record player activity and average revenue per user.”

Balcony scene

During select hours, Wild Card Rewards Rock Royalty and X cardholders receive a 50% discount on drinks at Hard Rock Atlantic City’s Balcony Bar. Hours are 4 to 9 p.m. Monday through Thursday, 4 p.m. to midnight Fridays, 11 a.m. to midnight Saturdays and 11 a.m. to 11 p.m. Sundays. Overlooking Steel Pier and the Boardwalk, the Balcony Bar is located just past Fresh Harvest Buffet, directly above the Hard Rock Café. From 4 p.m. Friday to 4 p.m. Sunday, entry is limited to Wild Card Rewards cardholders and hotel guests.

Free drinks, light bites

Trop Advantage Club Black cardholders can enjoy complimentary cocktails, light bites and live entertainment — weather permitting — from 7 to 10 p.m. Fridays and Saturdays at the Tropicana’s North Tower Pool Deck. Caesars Rewards Seven Stars cardholders also are welcome.

Big win online

Christopher M., of Long Valley, Morris County, won $228,105 from a single $45 wager on the slot game Lock It Link Night Life. This is the largest online jackpot this year for Ocean Online Casino, the digital gaming platform for Ocean Casino Resort.

Recreational gambler Darryl D. McEwen, a former professional journalist, is president of his own consulting firm that manages several small national and international trade associations, and provides public relations and fundraising services for a number of charitable organizations. Have a comment on this or a question specifically related to an Atlantic City casino, players club or other promotion? Email Darryl at MrACCasino@gmail.com and he’ll try to respond to you personally. Your question – without your name – may appear in a future column. Visit his website, MrACCasino.com, and follow him on Twitter @MrACCasino.

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