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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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NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
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“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
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Microgaming Wins The Spark Award 2017 -
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NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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