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Atlantic City Casino Revenues Drop
On October 10th, 2007, the state Casino Control Commission said that the Atlantic City casinos continued to post a negative performance in September. The casinos just won about 10.6% from players. Industry analysts blame the negative performance of the casino to slots parlors that recently opened for business in the state of Pennsylvania and Delaware and the partial smoking ban that was imposed in the eleven casinos in Atlantic City.
The casinos won $419.3 million in September compared to the $468.8 million the casinos won in September 2006. They only won $300.7 million from the slot machines, a 12.6% slide and $118.6 million at casino table games, a slide of 5%.
A win is the cash kept after paying the wagers. Only two of the eleven casinos performed better in September compared to the same time a year ago. Profits improved 1.2% at the Showboat Casino Hotel and 0.3% at the Caesars Atlantic City.
Harrah's Atlantic City was able to come close to their performance on September, with revenues sliding down to 0.7%. The Tropicana Casino and Resort suffered the biggest lost at 21.3% followed by Trump Marina Hotel Casino at a 14.1% decline.
The Trump Plaza Hotel and Casino suffered a 13.2% drop and the Borgata Hotel Casino and Spa suffered a drop of 11.2%. The profits of the Resorts Atlantic City slid down 10% from last September while the Trump Taj Mahal Casino Resort slid down 8.5%, Atlantic City Hilton Casino Resort slid down 6.3% and the Bally's Atlantic City slid down 6.2%.
For the first 9 months of 2007, Atlantic City's casino facilities have won $3.8 billion dollars; slide down from 4.8% from 2006. This will be the first time in the twenty-nine year history of gaming in Atlantic City that the profits did not improve.
17 October 2007
News Submitted by:
Lauren Desmond
