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Atlantic City casinos gambling revenue down 11% in June

Atlantic City casinos gambling revenue down 11% in June The 11 casinos in Atlantic City added yet another month of declining gambling revenues, after the numbers for June were published. The New Jersey Casino Control Commission announced that the Atlantic City casinos cashed in $373.6 million in June or 11% decline from the $419.8 million the casinos took the same month last year.

 From the 11 casinos in New Jersey, only the newly opened Harrah's Resort Casino showed a 5.5% increase in revenue, while the ten remaining casinos all posted gambling revenue decline, ranging from 0.3% at the Borgata Hotel Casino to 23% at Trump Marina Casino. Slots winnings fell down 12.2% to $266.2 million, while revenue from table games declined 8% to $107.4 million. Increasing fuel prices and food cost, as well as competition from the neighboring Pennsylvania slots parlors are being blamed for the gambling revenue decline in Atlantic City. Some experts also claim that the revenues will fall down further 5% once the smoking ban goes in effect in October.

 Published on 07/11/2008

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