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Atlantic City Casinos Bounce Back
ATLANTIC CITY, NJ --
In a report from the New Jersey State Casino Control Commission, Atlantic City casino revenues climbed for the 1st time in several quarters. According to the numbers released, the 11 casinos in AC reported a 1.6% increase in overall sales.
Many analysts attribute the gain to the extra weekend in May. As you know, weekends are busiest times for casinos, especially Friday and Saturday nights during the warmer months.
"There were 5 weekends in May this year. When you do the math, that helps out considerably", said Russ Forrestor, an economist from Connecticut, who is about to release a new book on casino economics.
The rise in May marked only the 3rd time in the last 17 months that sales were up in a casino. Over the past few years, AC casinos have struggled with competition from slots warehouses in Pennsylvania and New York, higher gas prices at the pump, and an overall decline in the AC area.
"The calendar was on our side this month, and we sure will take it," said Larry Mullin, president of the Borgata. "We have had a number of months where sales have been down across the board. It's comforting to see business is back."
The casino with the highest increase for the month was Trump Taj Mahal Casino Resort, where sales rose 11%, to nearly $45 million.
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