Atlantic City Casino Revenue Continues to Slip In May

June 13th, 2010 – by Glen Farmer

The results for the month of May have shown that Atlantic City’s casinos have once again failed to see reprieve from the revenue decline that has been punishing the city. The collective revenue of the eleven casinos in Atlantic City experienced a 9 percent droop in revenue compared to May of last year.

Since April had almost been a break even month, the casinos in Atlantic City expected May to be a good month. Unfortunately, the would be bounce back did not happen as intended.

Approximately $319.7 million had been generated in May, with $225.6 million being generated by slots, and $94 million from table games. A decline of 8.5 percent was experienced in the slot department, while table games watched a 10.2 percent slip occur.

Each of the 11 casinos in the United State’s second largest casino location had experienced a decline in revenue.

Perhaps the biggest problem that Atlantic City now has to contend with, other than economic recession, is that of the Pennsylvania based casinos. With table games being incorporated into each of the casinos in Pennsylvania, visitors from the Keystone State are likely to no longer visit Atlantic City.

In order to offer forbearance from the continuously crumbling casino revenue, Atlantic City legislators have been pushing for legally licensed New Jersey online casinos. Though this push is in the preliminary stages, casino operators are hopeful that they may soon use an intrastate network of online casinos to help recover from the ailing hardships that the casinos have been facing almost universally.

Unlicensed online casinos have also been touted as a problem for Atlantic City’s gaming empire.

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One Response to “Atlantic City Casino Revenue Continues to Slip In May”
  1. Steven Hite Says:

    In this recession, the one area of gambling that has shown an increase has been the penny slot machines. Atlantic City casinos have removed some penny slot machines! Gone is the Oasis area at the Taj, the tower area at Trump Plaza, the Wild West removed penny machines and boarded up the area inside their front door. Caesars has taken penny machines out on the second floor to make room for table games. Casino executives may not be the dumbest people on God’s green earth, but, surely, they are in the top five! What’s the attraction in Atlantic City? The Incredible Shrinking Casinos? If that wasn’t bad enough, factor in a “Brigadoon” buffet schedule and coffee shops that no longer operate 24 hours a day and it doesn’t take a genius to see that the bean counters have sucked the joy out of the Atlantic City experience. My wife and I bought a time share in Atlantic City in the early 90’s. We used to have a great time making the rounds at the casinos, taking a free pull on a special slot machine, or playing free bingo, and hitting the buffets. We old couples were the Kings and Queens of Atlantic City. Then came the Borgata and all the other casinos tried to be the second coming of the Borgata. The kids were everything and we old people could go to hades. Now the recession is here and the only people with money are us old folks with our pensions, social security, IRAs, 401ks and savings accounts. The casinos lost their base. It’s us geezers!

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