AC Casino Revenue Falls 10% To $260.6 Million In April

admin, May 14, 2012 1:26 pm

AC Casino Revenue Falls 10% To $260.6 Million In AprilAtlantic City’s woes seem set to continue after gambling figures for April were released showing a huge 10% decline in revenue to $260.6 million, from $289.4 million in the same month a year earlier.
According to the New Jersey Division of Gaming Enforcement report, slot revenue was down by 9% to $189.5 million, while table games also fell 12% to $71.1 million. The results mean that year-over-year the Atlantic City casino market has declined every month since September 2008, with the lone exception of December 2011. The latest result for April is particularly worrying as high expectations existed following the opening of Atlantic City newest $2.4 billion resort earlier that month.
However, Revel Casino only generated $13.4 million in revenue for April, which was nearly the lowest of AC’s 12 casinos. Commenting on the situation, Tropicana Casino president and CEO Tony Rodio, said:
“It would be hard to say it wasn’t disappointing. We had a new entrant in the market. I certainly would have expected better results than what we saw. It’s certainly disappointing.”
Bucking the downward trend was the Tropicana Casino which saw its revenue soar 39% to $26.7 million for the month, a marked improvement on last year when blackjack expert Don Johnson won $5.8 million at the casino. The Golden Nugget also posted a gain albeit of just 1% to $11 million, while all other casinos experienced declines.
This list of fallers included the Atlantic Club Casino suffering a drastic 41% decline in revenue to $8.3 million, while the Trump Plaza was down 33% to $8.8 million and the Trump Taj Mahal was down 31% to $21.9 million. Not far behind was Caesars Atlantic City down 28% to $27.5 million, Bally’s Atlantic City down 23.6% to $27 million, Resorts Casino Hotel down 21% to $11.4 million and the Showboat Casino Hotel down 14.7% to $19.9 million.
Despite the economy and competition from neighbouring states contributing to AC’s waning fortunes, the city is hopeful of revenue increasing during the summer months.

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