Revenue Plunges for Atlantic City Casinos

Written by John G | Monday, November 10th, 2008

After taking the biggest one month year in over 30 years back in September, one may think that Atlantic City casino executives were relieved to “only” see a 9.9% drop in gaming revenue for October. After losing many regular slot machine players to out of state slots parlors, the outlook remains bleak for these battered casinos.

For the month of October, AC casinos won $346 million in bets with slots revenue making up $235 million of that. The remaining cash came from table games such as blackjack and craps. While the near 10% drop overall hurts, some properties took an even harder hit. The Trump Marina Hotel Casino saw revenue dip by almost 30% and following in their footsteps was the Resorts Atlantic City property with a 28.7% reduction.

In contrast, the Borgata (who had just laid off 400 workers last week) only posted a 2.5% loss for the month. The big winner for the month? The Trump Taj Mahal Casino Resort, which posted a 20.5% gain in revenue due to the opening of a new tower and lots of good press.

For the year, the casinos have a total rake of $3,9 billion and hold onto the hope that in leiu of Christmas gifts, many couples with out of town relatives and/or no children will take solace in the casinos. There are plans by the major properties to aggressively market specials for the month of December highlighting alternative Christmas options as well as New Year celebrations.

Other Related Articles

• Trump Resorts Face Chapter 11 if Payments Not Made
• IGT Lays Off 300 Employees From Reno Facility
• Playtech Shows a Significant Increase in Revenue in Third Quarter
• Aliante Station Celebrates Opening with a Bang

Got Something to Say? Leave a Comment

You must be You are now logged in and can post a comment.