Atlantic City Casino Revenue Falls 7.1% To $289.4 Million In April 2011

Atlantic City casinos have suffered yet another decline in monthly revenue, this time tumbling by 7.1% to $289.4 million in April compared to a year earlier.
In total, Atlantic City’s 11 casinos generated $208.6 million in slot machine revenue down 3.4% from the same period in 2010, while table game revenue also fell by 15.4% to $80.9 million.
Overall, the only casinos to see an increase in April’s figures were Caesars Atlantic City whose revenue rose 5.6% to $38.3 million, and Resorts Casino Hotel up 4.3% to $14.5 million.
On the other side of the coin, Tropicana Casino and Resort experienced the biggest decline down 19.8% to $19.2 million, followed by Trump Plaza Hotel and Casino down 19.3% to $13.2 million, and The Borgata down 11.3% to $49.8 million.
Other results showed the Trump Marina Hotel Casino down 7.9% to $10.9 million, Harrah’s Resort Atlantic City down 7.6% to $38.3 million, the Trump Taj Mahal Casino Resort down 7.2% to $31.9 million, the Showboat Casino Hotel down 6.7% to $23.2 million, Bally’s Atlantic City down 5.1% to $35.3 million and the Atlantic City Hilton Casino Resort down 1% to $14.1 million.
The beleagured gambling resort had seen 28 years of straight casino profits until 2007. However, Atlantic City has since seen its revenue plummet from a 2006 peak of $5.2 billion to $3.57 billion in 2010.
For decades, Atlantic City held a gambling monopoly outside Nevada but then lost its advantage after cash-starved states  increasingly turned towards gambling revenue to improve their budgets.
Now Atlantic City has found its yearly revenue steadily declining as it competes against neighbouring states such as Pennsylvania, Philadelphia, Delaware, West Virginia and Maryland.
There would also seem to be more bad news ahead as Spectrum Gaming Group predicts yet another year of decline for Atlantic City. As the gaming research firm states:
“Our projection of $3.1 billion in gaming revenue for Atlantic City in 2011 is down 40.8 percent, or a staggering $2.13 billion, from its historical peak year of 2006.”

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