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Atlantic City Casinos Take Dropping at Record Pace
ATLANTIC CITY, NEW JERSEY --
Flailing Atlantic City casino operators are throwing any excuse imaginable to spin the new figures showing record declines in gambling revenues for the town's industry. Smoking laws, competition from neighboring states, the need to refurbish, even inadequate transportation to the city have all been blamed with the recession for tumbling figures from the casinos.
December's take was down close to nineteen percent from the previous year, breaking the record for worst monthly drop ever, set just weeks before in September. For the second straight year, annual revenue was down, after having seen revenues increase every single year before 2007.
Casinos in flux might as well be another of the litany of reasons why business is collapsing. The debacle that is the Tropicana continues to drag the market, as does the cumbersome sale of Trump Marina and the possible impending bankruptcy of Trump Entertainment.
Slots led the way in the plummeting gaming sector, losing almost ten percent off 2007 revenue figures, Table games dropped only three percent, showing that higher budgeted gamblers were less affected and reflecting on the lack of table competition.
With these excuses for their poor showing, Atlantic City casinos may soon be forced to concede that factors have caused public tastes to pass them by, leaving them in a no-man's land in which they are neither destination resorts nor online gambling sites.
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Recent Comments
| Posted by Iuki on 01/11/2009 09:45:50 PM EST |
| Loosen up those slots and we'll be back. We're tired of getting robbed. And, by the way, lower drink and food prices too! |
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