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May Atlantic City Casino Revenues Fall 9%
6/11/10 - Optimism that the worst of the recession which has so badly hammered Atlantic City land casinos may be over was tempered this week by another dismal set of performance statistics.
Atlantic City's 11 casinos saw revenues fall by 9 percent in May compared with a year ago, Associated Press reported this week. The numbers were disappointing for operators, who were heartened by April numbers that suggested a break even point had been reached.
"In April, we felt really good about the way things were going," Don Marrandino, eastern division president of Harrah's Entertainment Inc., which operates four of the casinos told AP reporters.
"We're clearly disappointed. May was just not a good month. Everyone's feeling the same pain."
The poor performance came despite a Memorial Day weekend in which casinos were packed, but the holiday weekend revenue was not enough to offset a weak performance over the rest of the month, compounding a three-and-a-half-year decline that started when the first slots parlours opened outside Philadelphia in late 2006. There are now nine.
Atlantic City casinos took in $319.7 million in May, with slots accounting for $225.6 million – down 8.5 percent. Table games brought in $94 million, down 10.2 percent.
All 11 casinos reported revenue declines in May, ranging from nearly 21 percent at the Atlantic City Hilton Casino Resort, to nearly 5 percent at the Borgata Hotel Casino & Spa.
In the first half of 2010 Atlantic City Casinos have won $1.49 billion, down 7.9 percent from the same period in 2009. The Associated Press report points out that things could get even worse when the competing Pennsylvanian slot parlours start offering table games.
Online gambling could provide a partial solution for Atlantic City; New Jersey state legislators are currently considering intrastate laws that would allow land operators licensed by the state to offer internet gambling.
Gambling News :
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.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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