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Atlantic City Casino Revenue Down another 5% For July 2010
July stats show a 5 percent decline in revenues
Official statistics for July 2010 show that Atlantic City land casinos again experienced a decline in revenues - 5 percent lower than the comparable period last year - as competition from neighbouring Pennsylvania added to New Jersey casino woes.
The New Jersey Casino Control Commission reported Tuesday that revenue for the 11 Atlantic City casinos fell to $363.9 million.
The Commission's numbers show that casinos won $252.9 million at the slot machines and another $111 million at table games. Slots revenue fell 5.2 percent from July 2009; table game revenues decreased by 4.5 percent.
Competitive pressure from two neighbouring states contributed to the decline, with Pennsylvania gambling parlours introducing table games on July 8, a few weeks after Delaware did likewise.
Casino analysts have predicted that the stepped-up competition could cost a quarter of its annual table games revenue, or $300 million a year.
For the first seven months of the year, Atlantic City casinos won $21.4 billion, down 7.9 percent from the same period in 2009.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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