Atlantic City Casino Gambling Revenue Drop Small In September

Atlantic City casinos have become so numb to receiving their revenue figures each month, that the process does not bring nearly the joy that it used to. For September, however, the casinos can claim at least a small victory.

For the first time in many months, the revenue decrease from one year to the next in month over month figures was less than double digits. In September, revenue at the casinos was down 5.8%. Four of the eleven casinos even experienced an increase in revenue.

"I hope we're seeing signs that things are starting to stabilize," said Mark Juliano, CEO of Trump Entertainment Resorts, as reported by The Associated Press, "Perhaps the double-digit (declines) might be behind us. The real question is how long until we get back to the results we saw in past years, which is the question everyone in the business has."

Actually, many in the industry are wondering if Atlantic City casinos will ever see the glory they once experienced. Competition in the Northeast is becoming fierce, and people no longer have to travel to AC to do their gambling.

Connecticut and New York have both expanded casino gambling options for their residents. Pennsylvania has also opened new casinos, and table games for Pennsylvania casinos may not be far off, with lawmakers already talking about table game expansion.

Atlantic City casinos, however, will take small victories if they are a means to an end for an awful year and a half worth of revenue figures. The double digit declines have been adding up, and several casinos have already gone into bankruptcy in the city.

For September, AC casinos won $335.4 million. That is down almost six percent from last year, but considering the sixteen percent drop in revenue in August, September figures do not look that bad.

October 10, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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