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Atlantic City Casino Revenue Falls Another 14.2 percent in April 2009

Business Week reports that Atlantic City land casinos continued to battle the recession in April 2009, with the 11 casinos drawing 14.2 percent less revenue than a year ago. However, like recent Vegas numbers, there was a glimmer of hope in the fact that the decline was not as great as that in March 2009, when the Atlantic City casinos took a record breaking 19.4 percent knock.
Mark Juliano, chief executive officer of Trump Entertainment Resorts opined: "It's up a little bit from the bottom; that's a good way to look at it. The economy is still a major factor."
In April, the casinos won $313.6 million, the Business Week report reveals. Slot revenue, Atlantic City's bread-and-butter, fell 14.9 percent to $220.6 million. Table games brought in $92.9 million, down 12.5 percent from a year ago.
Every casino in the city experienced a decline in April, led by three of the most beleaguered gambling houses. Trump Marina Hotel casino, which is due to be sold in less than three weeks to a New York developer, was down 27.9 percent. Resorts Atlantic City, which stopped making interest payments on its loans last fall and is trying to avert a foreclosure bid by its lender, was down 24.9 percent. Its sister property, the Atlantic City Hilton Casino Resort, was down 24.7 percent.
The Tropicana Casino and Resort, which filed for bankruptcy earlier this month so it can be sold at auction, was down 20.8 percent. Trump Plaza Hotel and Casino was down 20.2 percent, and Bally's Atlantic City was down 17.6 percent.
Caesars Atlantic City was down 16 percent, Harrah's Atlantic City was down 15.5 percent, and the Showboat Casino Hotel was down 7.2 percent.
The Trump Taj Mahal Casino Resort was down 2.2 percent, and the Borgata Hotel Casino & Spa was down 0.3 percent.
Juliano said: "The properties that have renovations completed over the last year or two are doing better than those who have not."
For the first four months of 2009, the casinos won $1.3 billion, down 15.7 percent from the same period in 2008.
Atlantic City is in the third straight year of revenue declines that began in late December 2006 when the first of several slots parlors in Pennsylvania and New York opened, stealing some of Atlantic City's most reliable and profitable customers.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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