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Atlantic City Casino Revenue continues to fall off in New Jersey

Atlantic City's revenues continued to fall in December, according to the latest statistics from New Jersey, with the gambling centre's 11 land casinos showing an accelerated decline over the previous year. The casinos won $302 million from gamblers in December, down 18.7 percent, exceeding the 15.1 percent decline set in September.
 
Throughout 2008, Atlantic City's casinos won 7.6 percent less from gamblers than they had in 2007, and prior to that, casino revenue had increased every year since gambling was legalised in the area back in 1978.
 
Joseph Weinert, senior vice president of consultants Spectrum Gaming Group commented: "Over the last two years, about $600 million in gross gaming revenue has disappeared from Atlantic City." He added that 3 300 casino jobs had been the human cost of the two year decline.
 
Gambling commission officials attributed the adverse results to a number of factors, including the nation's serious economic woes, growing competition in neighbouring states and smoking bans.
 
Atlantic City's decline coincided with the opening of slots parlours in Pennsylvania and New York that have siphoned away gamblers. Slot machine revenue fell 9.6 percent to $3.13 billion, and table games brought in $1.41 billion, down 3 percent.
 
Only one casino — Harrah's Resort Atlantic City — showed an increase for the year; its revenue rose 4.9 percent.
 
The two biggest declines were posted by casinos owned by Colony Capital, the Atlantic City Hilton Casino Resort at 18.3 percent and Resorts Atlantic City at 16.3 percent.
 
The news from Indiana is not much brighter, thanks to the prohibitively high gasoline prices last summer, and the impact of the recession.
 
Statewide figures released last week by the Indiana Gaming Commission showed revenues at Indiana's 11 full-service casinos fell 8 percent to about $2.5 billion last year, compared with $2.7 billion in 2007, while admissions fell 6 percent. It was the first time that statewide revenues and attendance for the full-service casinos have fallen from the previous year, contradicting the conventional wisdom that casinos were recession proof.
 
Adding to revenues, which totalled $2.67 billion throughout 2008, was the introduction in June last year of slot machines at Indiana's two horseracing tracks. Slot machines at the two horse tracks, Hoosier Park near Anderson and Indiana Downs in Shelbyville brought in nearly $195 million through December.
 
Mike Smith, president of the Casino Association of Indiana, said: "Obviously the economy has taken a big toll on Indiana casinos. It's taken two more casinos to do the same amount of business that 11 casinos did."
 
The Courier-Journal of Louisville reported that Horseshoe Southern Indiana, formerly Caesars Indiana, saw its gross revenues decline 9 percent in 2008, while admissions sank by 12 percent. The Harrison County boat drew nearly 367 000 fewer visits from patrons in 2008. The newspaper reported that analysts and gambling executives have opined that the recession has hit all forms of legalised gambling, including horse racing and some state lotteries.



Gambling News :

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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