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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.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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