Atlantic City Casino Gambling Decline Weakens In October
The Atlantic City casino industry has been belted by the economy and gambling expansion in other states. Their declining revenue has been the topic of many gaming discussions in the US, but lately it has taken a turn upwards.
Atlantic City casinos have resorted these days to being excited about minimal revenue loss in a particular month. That is why the news came across as good that in October, revenue fell at AC casinos by only 6.5%.
For October, the casinos won $323.8 million. Most of those winnings came from the slot machines. Slot gambling revenue was $222.4 million for October, while table games accounted for $101.4 million of the revenue.
"I'm a half-full guy," said Don Marrandino, the new Eastern Division President of Harrah's Entertainment, to The Associated Press, "But two months does not a season make. I remain bullish, but I'm not ready to say the tough times are over."
Indeed, the tough times are far from over. The recent expansion of casino gambling in New York, Pennsylvania, and Connecticut has made it more difficult than ever for Atlantic City casinos to thrive, and some believe the city will never again reach the figures they once enjoyed.
"There's more pain coming," said Joe Weinert, Senior Vice President of Spectrum Gaming Group, "A lot of the bread-and-butter customers are gone forever. That money has gone to casinos in Eastern Pennsylvania, and it's not coming back."
November 11, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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