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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A hearing is set for Thursday in Delaware in a dispute between Donald and Ivanka Trump and the casino company he once ran, over whether Atlantic City’s struggling Taj Mahal casino can continue to use the Trump name.
Full House Resorts Inc., the casino and hotel operator, said Wednesday that it is putting itself up for sale. The company, based in Las Vegas, evaluated strategic alternatives and decided that a sale was the best move. It is working on finding a buyer.
The four major professional sports leagues and the NCAA filed papers to stop New Jersey’s plan to allow legal sports betting beginning this weekend, when gamblers could become the first in the nation outside Nevada to wager on single games.
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