Atlantic City casino revenue down 9.4% for January
Of that, nearly 66 percent of total revenue, or us$ 211.6 million, came from slot machines. The remainder, us$ 109.8 million, came from table games.
While Atlantic City traditionally sees less business in the slower winter months, the impact of slots competition from Pennsylvania and New York has become a formidable rival for the seaside resort.
By comparison, the seven operating slots parlors in Pennsylvania, including two in the Philadelphia suburbs, generated $132.3 million last month. PhiladelphiaPark led among the seven with us$ 28.9 million in gross slots revenue.
With the exception of Harrah’s Chester Casino and Racetrack, which posted a 5.9 percent revenue decrease last month compared with January 2008, the five other Pennsylvania casinos all had robust revenue increases from a year ago. The seventh slots parlor, Penn National Race Course near Grantville, debuted in February 2008.
By contrast, six of the 11 casinos in Atlantic City are in or facing the possibility of bankruptcy, including Resorts and the three Trump casinos, as revenue continues to shrink.
Resorts reported the largest revenue decline in January, of 25.4 percent, followed by Showboat at 21.8 percent, and Trump Plaza at 21.3 percent. Only the Taj Mahal reported a revenue increase of 9.8 percent.
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