Atlantic City Casino Revenue Continues To Fall In October

With every day that the economy drops to new levels, casinos are feeling the effects more and more. Atlantic City casinos have already had their share of bad news and on Monday, they received more.

Revenue figures have been released for October and the figures are not pretty. The eleven casinos in Atlantic City had their revenue drop almost ten percent in October from a year ago at the same time.

There was a revenue of $346.2 million, which on the surface looks like a big number. When the past is considered, however, that number is put into context. The bottom line is that these casinos cannot keep taking these types of hits if they are going to survive.

"These are dismal numbers. I think we are in for some tough times ahead," said Carlos Tolosa, President of the Eastern Division of Harrah's. Tolosa claims that the economy has devastated business and that expansion in neighboring states is not helping Atlantic City casinos.

People who normally have frequented these casinos do not have the money to continue their gambling. That is happening not only in Atlantic City, but also in casinos throughout the country.

A recent smoking ban was also blamed by several AC casino operators. They will not have that excuse for long, however, with the city stopping the ban for a period of one year.

November 11, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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