casinos revenue decline
The 11 casinos in Atlantic
City, NJ reported a 5.5% combined revenue decrease in May.
The neighboring states casino gambling
expansion may prove bad for the casinos in Atlantic City. On
average, 5.5% was the decline in revenues for the month of May,
compared to the same month last year, for the eleven casinos
operating in the city. This is the fourth month out of five this
year that the take was down from the previous year.
Four casinos have cut back on their comps as a
way to make up for declining revenue. The seven others,
however, are handing them out faster, hoping to hold on to
customers who now have other, closer places they can gamble,
Philadelphia being one of the new casino markets attracting
customers from the N.J. casinos.
If this trend of declining casino revenues
continue for the Atlantic City gambling market, 2007 may be the
first year the casinos see less revenue than the previous, since
legalizing gambling 29 years ago.
Published on 06/12/2007