Atlantic City Casino Revenues Keep Dropping

New Jersey Casino Control Commission released more data indicating the decline in Atlantic City revenue from gambling.

June figures at the states 11 casinos located in Atlantic City show a decline of 1.9 percent from a year ago. Overall the casinos reported a $419.9 million casino win.

Attendance at the resort casinos has declined since New York and Pennsylvania have introduced slots gambling in those states, further damage to Atlantic City's revenue is blamed in part by the restrictive smoking ban put in place this year.

"A significant number of gamblers have found a more convenient place to play slot machines, principally in the Philadelphia area, but also in the Poconos and the metropolitan New York City area," said Joseph Weinert, senior vice president at Spectrum Gaming Group L.L.C., which tracks the $5.2 billion Atlantic City gambling industry.

With the addition of 11,000 slot machines close to the Atlantic City market, people that once travelled to Atlantic City no longer have to.

The figures claim a win last month of $303 million, 72.2 percent of overall winnings, was from slot machines. The remaining 27.8 percent came from table games.

To further give jeopardize Donald Trumps efforts to sell off his interests in the city, Trump Plaza posted the biggest loss with an overall 13.9 percent decrease in revenue. A 21.7 percent decline in table game revenue and a 10.2 percent decrease at the slots.



2007-07-11