Atlantic City Casino Revenue Declines 11.3% In August 2010

Atlantic City’s woes seem set to continue for a while yet, after its eleven casinos reported yet another monthly fall in their revenue figures.
In what should have been one of the busiest seasons of the year, Atlantic City’s casino posted a total win of $347.5 million for August, representing an 11.3% decline from the $391.7 million posted for the same month a year earlier.
In total, slots revenue was down 11.3% in August to $245.1 million, while table games also fell by 11.4% to $102.4 million. Atlantic City has now experienced 24 months of declining casino revenue and is currently down 8.4% for the first eight months of 2010 with winnings of $2.5 billion.
Whereas last month the Trump Taj Mahal and Atlantic City Hilton bucked the trend to post an increase in revenue, in August there were no exceptions with all eleven casinos declining by varying amounts.
Falling by the least amount was Caesars Atlantic City down by 5.7%, followed by Harrah’s Resort Atlantic City (-6%), the Showboat Casino Hotel (-7.5%) and the Trump Taj Mahal Casino Resort (-8%).
All the rest experienced double digit falls in their revenue, including the Borgata Hotel Casino & Spa (-11.7 %), the Tropicana Casino and Resort (-13.9 %), Trump Plaza Hotel Casino (-14%), the Atlantic City Hilton Casino Resort (-14.5 %), Bally’s Atlantic City (-14.9 %), Trump Marina Hotel Casino (-20.4 %), and the Resorts Atlantic City, down 21.2 %.
It all adds up to continuing bad news for the state of New Jersey, which received just $24.3 million in gaming taxes for August and has now received 10.5% less in gross taxable revenue for the first eight months of 2010.
The increase in competition from neighbouring states has hit Atlantic City’s gaming industry particularly hard and New Jersey lawmakers are now contemplating a whole range of radical measures to reverse the trend, including allowing slot machines as horse racing tracks.
Although in its early stages, if such a decision went ahead it would spell more gloom for Atlantic City’s casinos who said they would find it difficult withstanding much more revenue losses.

Poker News
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Japan Introduces Responsible Gambling Bill
28 May 2018
Japan’s bicameral legislature, known as The National Diet, consists of an upper House of Councillors and a lower House of Representatives, with the latter having started discussing the Integrated Resorts Implementation Bill last week. Being debated is the regulatory framework required in order to set up an efficient and well functioning casino market in the
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this