Casino News

Atlantic City reports revenue decrease

2008-02-12 12:24:08

The combined revenue generated by casinos in Atlantic City fell by ten per cent in January, it has been reported.

It was also revealed by the Associated Press that for the first time in the gambling destination's history, every single casino suffered an earnings decrease from the year before.

The biggest losers were the Trump Marina Casino Hotel and the Tropicana Casino Resort, which both fell by 21.1 per cent.

Another Donald Trump-owned resort, the Trump Plaza Hotel and Casino, was the closest to matching 2007 revenues, but still fell by 0.3 per cent.

One of the major reasons behind the lower takings seems to be strong competition from slots parlors in nearby areas.

Carlos Tolosa, spokesman for Harrah's Entertainment, said: "Wintertime for the day-tripper is significantly more difficult for us when they have a choice in Pennsylvania or New York.

"They want to stay closer to home."

Profits have been falling in Atlantic City steadily over the last year, with Reuters reporting a £63.6 million drop between the second quarters of 2006 and 2007.