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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.
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$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
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 -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“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.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
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.
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