Atlantic City Casino Gambling Revenue Drops Again In May

Atlantic City casinos were hoping that after a strong April, they were on their way back from a devastating couple of years. That optimism was short-lived, as May revenue numbers showed a decrease once again. It was not the way the casinos expected to head into the summer months.

In May, revenue dropped at AC casinos by nine percent over the same period in 2009. Slot gambling continued to pace the casinos, with $225.6 million won from slots. Table game revenue was $94 million, down over ten percent from last May. The slot revenue was down over eight percent, and the total revenue for the month was $319.7 million.

"In April, we felt really good about the way things were going," said Don Marrandino, Eastern Division President of Harrah's Entertainment, as reported by The associated Press. "We're clearly disappointed. May was just not a good month. Everyone's feeling the same pain."

The timing could not have been worse for a drop in revenue at AC casinos. Competition from neighboring states is becoming fierce, and New Jersey is facing the prospects of falling behind Pennsylvania in overall casino gambling revenue.

The Pennsylvania casinos have been on a roll since December, and they will receive another boost in a couple of weeks. Lawmakers legalized table games at the casinos earlier this year, and all of the casinos in the state are expected to unveil the new games in the early part of the summer.

Atlantic City is joined by Las Vegas as cities where casino gambling was always a major revenue producer, but the economy has crippled the industry in both Nevada and New Jersey. Nevada will be helped out in June and July from the World Series of Poker, which will bring thousands of visitors through Sin City.

June 13, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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