Atlantic City casino revenue drops in JanuaryFebruary 14, 2013 8:57 AM by Staff & Wire Reports
Revenue at Atlantic City’s casinos was down more than 13 percent in January compared with the same month a year ago.
It was an inauspicious start to what could be a seventh straight year of falling casino revenues in a market that used to be the nation’s second-largest but has since lost that title to Pennsylvania.
The city’s 12 casinos won $205.6 million from gamblers last month. Table games revenue fell by $5.1 million, to $67.1 million. Slot machine revenue fell by $26.2 million, to $138.5 million.
The slots numbers were affected by an $8.1 million decrease in promotional gambling credits that were wagered, which are a component of slot machine revenue totals.
Atlantic City’s casino revenue has fallen from a high of $5.2 billion in 2006 to just over $3 billion last year.
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Some 500 casino workers protested outside MGM Macau, the gaming property that is majority owned by MGM Resorts International Sunday afternoon, saying they were unhappy with what was described as the company’s salary scheme.
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Gambling officials say the casino industry paid out a jackpot-worthy $38 billion in federal, state and local taxes in 2013. Of that total tax revenue, $10 billion came directly from gambling.
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