Atlantic City, New Jersey report decline in gaming revenues

Oct 14, 2008 5:00 PM

The Insider by Ray Poirier | The 11 casinos in Atlantic City, New Jersey, reported a decline of 15.1% in gaming revenues for the month of September. This was the biggest drop in the city’s 30-year history of gambling.

After waffling for months, the Maryland Jockey Club, owned by Magna Entertainment Corp. (MECA), has thrown its support behind the efforts to legalize slots at racetracks.

Atty. John Moran, a member of the board of directors of Wynn Resorts Ltd. (WYNN) has purchased another 10,000 shares in the company at an average price of $72.47 each. He now owns 180,000 shares in the company.

Olympia Gaming of Las Vegas says it has chosen Oxford, Maine, as the site of its proposed casino, should the state’s voters approve of a gambling measure on Election Day.

The Supreme Court of New Jersey has agreed to hear an appeal by the former owners of the Tropicana Casino and Resort that could delay the sale of the property until late next year.

Pompano Park racino in Pompano, Florida, is seeking zoning approvals so that it can expand its casino and build a 500-room hotel.

Circus Circus Resort & Casino in Reno, Nevada, has terminated 40 more employees, bringing the total at the property to 60 this year. The property is owned by MGM MIRAGE Inc. (MGM).

Ameet Patel has been named general manager of Argosy Casino in Riverside, Missouri. The riverboat is owned by Penn National Gaming Inc. (PENN).

A plan by Foxwoods Casino to build a casino in the Chinatown section of Philadelphia, Pennsylvania, has come under strong objection from the area residents. The objectors were told that the location was the plan of Gov. Ed Rendell.

Under orders of the National Labor Relations Board, operators of Foxwoods Resort Casino in Connecticut, has agreed to begin contract negotiations with representatives of the United Auto Workers. However, they did so only with the provision that the contract would be under tribal law, not federal labor law.

Colorado casinos saw their revenues decline by 10.4% during the first eight months of the year, according to state officials.

Irregular betting patterns has caused officials of England’s Football Association to investigate the possibility of game fixing, it was reported in newspapers over the weekend.

Jeffrey Grosman has been appointed as chief marketing officer for Youbet.com (UBET). He previously was with Network Solutions.