Atlantic City casinos see a drop in revenue for
The partial smoking ban at the Atlantic City
casinos did prove bad for the business after all.
casinos in A.C. are showing signs that 2007 could be the worst
in gambling revenue decline in the city's history. The combined
gambling revenue of the AC casinos showed a 9.9% drop in
revenues for April 2007 compared to the same month last year.
Still the casinos managed to win $396.8 million.
The three Trump casinos, Bally's (-10.4%) and
Tropicana (-13.4%) reported double digit decline. Harrah's and
Caesars were the only two out of the 11
Atlantic City casinos which
reported gains, with Caesars showing 15.3% increase in gambling
revenues, largely due to its table games gain of 52.5%.
Many representatives of the casinos blame the
bad results not only on the partial smoking ban which took
effect last month, but also on the increased competition from
the racetracks in Pennsylvania which have recently were allowed
to add slot machines.
The overall casino revenue in Atlantic City
for Q1 is down 4.1%.