Atlantic City casinos report revenue down 10% in January

The 11 Atlantic City casinos reported a combined revenue decline of 10% in the month of January.

Atlantic City casinos report revenue down 10% in January The gamblers lost $355 million at casinos in Atlantic City in January, 10% less than the same month a year earlier, it was reported on Monday. According to the New Jersey Casino Control Commission, the 11 casinos in Atlantic City collected $234.2 million from the slot machines and another $120.8 million from the table games. But facing increased competition from slots parlors in Pennsylvania and New York, the Atlantic City casinos reported slot revenue decline of 13.9%, while table revenues decreased by 1.5%. The partial smoking ban on Atlantic City's casino floors enacted last year is also being blamed for the decreasing revenues.

Last week the New Jersey Assembly approved the bill to ask voters to legalize professional sports betting in the Atlantic City casinos, which is one of the few remaining options for the casinos to get back on the winning track, considering that last year was the first in the 30-year history of Atlantic City casino gambling that revenues decreased from the previous year.

Published on 02/12/2008