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Horrible May For Atlantic City Casinos
Atlantic City's losing streak continued through May 2009 as its casinos reported a revenue decline of 15.4 percent to $351.3 million, compared with the same period last year.
The New Jersey Casino Control Commission's numbers released mid-week extend a downward trend for the gambling centre's 11 casinos, hit hard by a recession and the mass defection of gamblers to newer slot parlors in Pennsylvania and New York, reports Dow Jones. And more competition is looming with the completion of a new casino in Bethlehem, Pa., by gaming giant Las Vegas Sands Corp - it is less than 100 miles from New York City.
"Certainly one of the reasons why revenue is down in Atlantic City is the impact of new competition ... the opening of a new facility in Bethlehem will certainly contribute to that," said Daniel Heneghan, a spokesman for the regulator. He said the May numbers were in line with what the casinos reported during the first four months of the year.
Atlantic City industry suffered a 24.6 percent drop in gross operating profits in 2008.
Borgata Hotel and Casino, jointly owned by Boyd Gaming Corp. and MGM Mirage, continued to have the smallest declines as its casino revenue decreased 3 percent to $62 million in May compared with the same period last year. The biggest decline was recorded at the Atlantic City Hilton, which saw casino revenue drop 29.5 percent to $17 million.
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
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