City casinos came out of March in better shape than during the same period last
According to a report in the Press
of Atlantic City, the casino industry posted a 7.5 percent gain in gross
The figure was the best March ever in
Atlantic City and the fifth straight month of revenue growth. The percentage
gain was the second best in the past two years.
“When you see the results of the
first quarter, you’re going to see some fairly good amounts dropping down to
that bottom line,” said Wallace Barr, chief operating officer of Park Place
Entertainment Corp., which owns four casinos in the South ÂÃ‚ÂJersey resort city.
“Everybody’s backing off the marketing costs ÂÃ‚Âbecause of what was given to
us in terms of the weather.”
The unseasonably pleasant weather along
with increased ÂÃ‚Âspecial events and conventions lessened the need for cash and
option incentives, according to Barr.
“I hope it stays this way,” said
Mark Brown, chief operating officer of Trump Hotels & Casino Resorts, Inc.,
which owns three local casinos.
Trump Taj Mahal led the city in both
revenue and percentage increase for the month. Taj posted $49.9 million in
gaming ÂÃ‚Ârevenue was up 20.3 percent over last March figures. Gambling revenue
increased 18.3 percent at Caesars. Bally’s was second in citywide revenue,
gaining 0.3 percent from last March.
Gross gambling revenue is the amount
casinos win from ÂÃ‚Âgamblers after all wagers have been paid.