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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Beset by crushing debt, fleeing customers and run-down facilities, Trump Plaza on Tuesday became the fourth casino in Atlantic City to shut down this year.
Before an official vote was taken by the Massachusetts Gaming Commission on Tuesday, three of the four voting members had already decided that they favored Wynn Resorts Ltd. (WYNN) over Mohegan Sun for the Boston-area casino license.
Vegas Sports Books | Have you noticed a sudden shift in how sports betting is being received around the country thanks to positive publicity? We have ESPN College Gameday and Fox Sports talking about point spreads on college football.
Atlantic City’s casino revenue declined by 1.2 percent in August compared with a year ago as another gambling hall shut down. The 11 casinos operating during August won $294.4 million from gamblers, down from $298 million a year ago.
A U.S. Bankruptcy Court trustee is objecting to the proposed auction date for the Revel Casino Hotel and a $3 million breakup fee that would go to a Florida developer if he’s outbid for the recently shuttered site.
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