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Atlantic City Casino Gambling Revenue Drops In May

Analysts have predicted that the gaming revenue in Atlantic City casinos would start to recover in 2011 from the economic recession that has plagued the industry over the past several years. in May, casinos are again wondering when that turnaround will begin.

The eleven AC casinos all experienced revenue declines from the same period in 2010 in May. Revenue was down over nine percent from the same period last year, and casino executives are still wondering whether the industry will ever fully return.

Slot machine revenue dropped to $206 million, down 8.7% from last year. Table games revenue was also down, with AC casinos winning only $84.6 million in May. That represented a decrease of 10.1% over the 2010 figure. Casino revenue is down on the year so far almost eight percent in the first five months of 2011.

The economy has started to recover on a national level, but there are other factors as to why the AC casino industry is still struggling. Competition in the Northeast has grown fierce in the past couple of years, with Pennsylvania casinos prepared to become the largest gaming market on the East Coast by the end of next year.

Las Vegas, the West Coast equivalent of Atlantic City, is also experiencing trouble with their gaming revenue. A new report indicates that Nevada is set to become the third largest gaming destination in the world by the end of this year. Macau has already passed Las Vegas in terms of revenue, and now Singapore is set to do the same.

The Trump Plaza Hotel Casino experienced the biggest drop in revenue in Atlantic City in May. The Trump Plaza won only $13 million from gamblers in May, down from the $17.3 million in May of 2010. The twenty-five percent drop represents the trend in AC and Las Vegas, where traditionally powerful casinos are watching revenue decline on a monthly basis.

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