AC revenue slips again

Dec 18, 2007 6:35 AM

Few Atlantic City casinos were giving thanks in November as gaming revenue fell 7.7 percent from a year ago, as slots parlors in Pennsylvania and New York continued to gobble up some of New Jersey’s best customers.

Nowhere was the pain felt more acutely than at the Tropicana Casino and Resort, which endured weeks of bad publicity about vermin and poor service that began scaring customers away last month. Its revenues fell 21.1 percent in November.

It marked the 10th down month out of 11 so far in this dismal year — the first in the 29-year history of legalized gambling in Atlantic City that will show a revenue decrease from the previous year.

The casinos took in $374.7 million last month. Slot revenues came in at $260.8 million, a decrease of 12.2 percent from last November, while revenue from table games increased 4.4 percent to $113.9 million.

For the first 11 months of the year, the 11 casinos collectively have taken in $4.5 billion, down 5.3 percent from the first 11 months of 2006.

Only three casinos reported increases in November: Resorts Atlantic City (up 3.5 percent); The Borgata Hotel Casino & Spa (up 2.1 percent); and the Trump Taj Mahal Casino resort (up 0.5 percent).

Borgata, which completed a $200 million expansion and plans additional upgrades to make it more of a Las Vegas-style mega resort, was tops among Atlantic City gambling halls with a gaming win of $58.7 million.

A bright spot for Atlantic City casinos was table games, which enjoyed a 4.4 percent win increase.