Another Depressing Month For Atlantic City Casino Revenue

Casino News - February 12th, 2010 - Written By Glen

Another month passes where Atlantic City's revenue takes a hit. For the seventeenth month in a row, Atlantic City's casinos have collectively watched a decline in revenue, which amounts to an 8.5 percent shortfall from the January 2009 figures.

Unfortunately, the January 2009 figures were a decrease from figures of earlier years.

The casino win, or how much the casino generated after the players had taken their cut home, was $294.2 million. In 2009, $321.4 million had been collected from gamblers. Slot revenue had, as it has in past months, shown the smaller decline, losing only 7.6 percent compared to the 10.1 percent decline in table games.

The casino's win is not the profit generated by the casino, but rather the revenue with which they must pay obligations. $23 million had gone to tax, while $3.6 million had gone to the "Casino reinvestment development authority obligations."

Harrahs' Marina and Showboat Casino are the only two casinos that had shown an overall increase in revenue. Harrah's had an increase of 2.8 percent, while the Showboat showed a 4.4 percent increase.

Though the decline in revenue was expected, many executives around the City called Atlantic are content with the single digit decline, as a double digit decline was expected. The snowfall that had been crippling the northeast was expected to slow Atlantic City even further. Meanwhile, New Jersey Online Casinos continue to flourish.

Source - New Jersey Casino Control Commission