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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Since its opening six months ago, the Harrah’s Atlantic City Waterfront Conference Center has nearly doubled its booked meetings and conventions through 2019 and expects to bring nearly 300,000 conference attendees to Atlantic City.
More than four million people traveled through McCarran International Airport during March, a 5.5 percent increase over March a year ago. It was the airport’s best March total in eight years.
Clark County’s gaming win fell 3.59 percent to $796.69 million during March during the same period a year ago. But the rest of the state did not do any better as the statewide win for March was also 3.04 percent lower at $922.27 million.
Leaders of Connecticut’s two federally recognized Indian tribes have received preliminary assurances from federal officials that gambling agreements with the state would not be jeopardized by the proposed third casino they hope to open.
Massachusetts will collect less gambling tax revenues if two casinos rather than one are allowed to open in its southeastern corner near Rhode Island.
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