Atlantic City Casinos See a Dip In Winnings From Last Year

As is the case with everything, expansion of other companies play a big role in each other's profit margins. For a long time the casinos that reside in Atlantic City, New Jersey, had no competition and saw great profits. But for the first time, the casinos are seeing profits drop, a direct relation to the new slot parlors that now exist in New York and Pennsylvania.

It appears that although AC has table games to offer, which these other states' casinos do not, the slot playing customers that used to travel from New York and Pennsylvania, are now staying home to spend their money.

The AC casinos reported taking in $396.8 million in April 2007, down 9.9% from the same month in 2006. The overall winnings for these casinos for the first four months of the year was $1.6 billion, down 4.1% from last year's first four months.

There are several observers who have expressed concern over the idea that 2007 could be the first year since the inception of the first casino in New Jersey in1978, that the casinos could lose money.

The biggest losers were Trump Taj Mahal Casino Resort, they saw a decrease of 19.7%, Tropicana Casino and resort dropped 13.4%, and Trump Marina Hotel Casino fell 13.2%.

The news was not all bad for the AC casinos as Caesars Atlantic City had an increase of 15.3% in April, and Harrah's Atlantic City was up 1.9%.

Although the casino competition in the surrounding states had much to do with the decrease, there were a few other factors. New smoking laws went into effect on April 15th, permitting smoking on only 25 percent of the gambling floor, also bad weather lasted a little longer than usual in the area.

May 10, 2007
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!