Casino Revenue In Atlantic City Falls For 13th Consecutive Month

The New Jersey Casino Control Commission has released figures showing Atlantic City casinos posted $335.4 million of revenue in September, down 5.8% year over year. Slot machines accounted for $231.8 million of the revenue, down 5.2%, while table games generated $103.5 million or a decline of 6.9% compared to September of 2008. $23.94 million in taxes was paid to the State of New Jersey in September or 8% of gross revenue.
The Atlantic City Hilton’s revenue declined 16.3% in September to $15.66 million while Bally’s revenue was down 13.3% year over year to $39.69 million. Other double digit sliders in September were Showboat down 13.6% and the Trump Marina, Trump Plaza and Trump Taj Mahal, down 14.2%, 16.5% and 12.4% respectively.
Caesars Atlantic City, host of the WSOP, slid 6.3% to $39.52 million in September, while casinos actually coming out ahead in September included the Borgata with a total casino win of $63.14 million or 6.0% increase, Harrah’s Marina up 3.1% to $43.68 million, Resorts up 3.9% to $16.37 million and Tropicana up 1.0% to $26.68 million.
Overall, during a year long period up to September, Atlantic City’s 11 gaming properties were all down on their 2008 figures reflecting the global economic downturn. Trump Plaza’s fell the most at 23.8% year over year through the end of September while Trump Taj Mahal dropped only 5.0% to $345 million.
Taken as a whole, the 11 Atlantic City casinos have generated $3.05 billion in revenue from January to September 2009, with revenue from slots and table games dropping 14.2% and 14.1% respectively year over year. 
Gaming revenue in Atlantic City has now fallen for 13 consecutive months with the last increase posted in August 2008 although the rate of decline seems to have slowed somewhat in recent months.

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