Regional casinos continue to outperform Vegas, Atlantic City

Mar 11, 2009 6:45 PM
Staff & Wire Reports |

Regional casino markets in the U.S. continue to outperform the destination gaming centers, Las Vegas and Atlantic City, which continue to post disappointing revenue results.

On Tuesday, casinos in Atlantic City reported a 19.2 percent drop in revenues in February, the sharpest annual decline in the 30-year history of gaming in New Jersey’s gambling capital.

In Nevada, statewide revenues fell 14.6 percent in January, with the Las Vegas Strip casinos reporting a similar 14.6 percent, year-over-year decline.

The news was better in the regional markets, Missouri and Michigan.

In Missouri, casinos reported a 3.6 percent increase in revenues for February as slot income increased 2.8 percent and table game revenues jumped 10.6 percent over a year ago.

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In Michigan, Detroit’s three casinos posted a combined revenue increase of 4.1 percent for the month of February. Revenue at MGM Grand rose 5.2 percent to $49.5 million; Motor City was up 4.4 percent to $40 million, while Greektown increased 1.9 percent to $27.5 million.

The latest revenue results support a trend suggesting the country’s regional markets are better equipped to withstand the effects of the economic recession.

Some markets are actually showing signs of a recovery, as pointed out in a GamingToday article published on Tuesday.