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Gambling: Atlantic City Casino Profits Drop Almost 50%

The economic recession in the USA continues to play havoc with the 11 casinos and resorts in Atlantic City, according to a report from the New Jersey Casino Control Commission this week.
 
The resort city's casinos are making less from food, lodging and other amenities as well as a reduction in gambling, the Commission reports.
 
Gross operating profits at Atlantic City's casinos were $131.9 million for the quarter - down 45.8 percent from the $243.5 million the casinos made in the same period in 2007. Revenue for the quarter was $951.6 million - down nearly 15 percent from the fourth quarter of 2007.
 
And for the full year 2008, operating profits were $941 million - down nearly 25 percent, whilst revenues dipped by $4.48 billion - down more than 7 percent.
 
Gross operating profits, which represent earnings before accounting for interest, taxes, depreciation and other charges, is considered a better comparison among casino properties than net income.
 
Looking at the industry's net income, casinos lost more than $900 million in the 4th quarter and $1.5 billion for the year 2008.
 
Linda M. Kassekert, chairwoman of the commission, said the industry's problems come from a combination of the recession and ramped-up competition from casinos and slot parlours in neighboring states....and the state's push to attract more customers with nightlife and high-end dining did not deliver the results hoped for.



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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