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TOUGH TIMES FOR ATLANTIC CITY

The Philadelphia Inquirer reports dismal land gambling news from Atlantic City, with revenues in September, 2008 off 15.1 percent - the gambling city's largest monthly decline in gaming revenue since the seaside resort opened its first casino in 1978.
 
Figures released yesterday by the New Jersey Casino Control Commission confirmed the worst fears of operators, attributing the losses to slots competition from Pennsylvania casinos, a split Labour Day weekend, and a tropical storm.  The result was a decline of 15.1 percent when compared to revenues in September 2007. Casinos took in $356 million, compared with $419.4 million a year ago.
 
All 11 Atlantic City gambling halls reported revenue decreases, from a 5.0 percent drop at the Borgata Hotel Casino & Spa to 32.5 percent at Resorts.
 
Dan Heneghan, spokesman for the state gaming commission, which regulates the Atlantic City gambling market said that three-day holiday weekends were generally lucrative for the city's casino industry and that Labour Day weekend is one of the biggest for Atlantic City.
 
This year, Saturday and Sunday of the Labour Day weekend fell in August -- which explained why that month had a slight uptick in revenue compared with August 2007. Only Monday, Labour Day, was counted in September's revenue, giving Atlantic City four instead of the usual five weekends.
 
Another factor was Tropical Storm Hanna, which hit the East Coast over the September 6-7 weekend and "significantly hurt business on that weekend," Heneghan said.
 
Seven slots parlours in Pennsylvania, exacerbated the situation, taking a noticeable slice of AC's business by generating $133.1 million in gross slots revenue in September, of which the state takes a 55 percent cut. The tax in New Jersey on gross gambling revenue is 9.25 percent. Top earner in Pennsylvania was the Philadelphia Park Casino & Racetrack, which took in $26.9 million.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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