Double Digit Decline In July For Atlantic City Casino Gambling

This cannot end good for Atlantic City. The once proud casino industry in the city has fallen on hard times, and revenue continues to drop on a monthly basis. The latest drop occurred in July.

Double digit casino revenue declines have become the norm in Atlantic City over the past several months. In July, it was a drop of thirteen percent, marking another month where the city is farther from their glory days of the eighties.

"If they do not turn this thing around soon, it could be lights out for the casino industry in New jersey," said observer Larry Bell, "too many casinos are popping up in neighboring states for AC casinos to continue to survive with revenue losses."

Indeed, Pennsylvania, New York, and Connecticut have expanded, and are continuing to expand, their casino options. The two major Connecticut tribal casinos are actually going after customers from New jersey with billboard signs up and down the New Jersey Turnpike.

For Atlantic City casinos, July brought revenue figures of $383 million. Slot revenue was off twelve percent from last year, at $266.8 million, and table game revenue was down to $116.2 million, a drop of thirteen percent.

The city has eleven functioning casinos. Of those eleven, only Trump Taj Majal, owned by Trump Entertainment Resorts, posted a profit for the month of July. Trump Entertainment was recently re-acquired by Donald Trump. He will try to take the company out of bankruptcy in the near future.

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