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Atlantic City Casinos Decline 7.4 percent in 2011
04/05/2012 : ATLANTIC CITY CASINO PROFITS SLIDE A FURTHER 7.4 PERCENT
Gross operating profits at 11 land casinos in 2011 declined to just under $495 million.
The latest New Jersey Division of Gaming Enforcement gambling stats released Wednesday reveal that Atlantic City's 11 land casinos saw gross operating profits decline by 7.4 percent in 2011, to just under $495 million.
The numbers show a marked decline from the 2010 figure of $534.6 million, with Associated Press noting that Atlantic City recently lost its status as the nation's No. 2 casino market to Pennsylvania.
Optimists pointed to the Q4-2011 improvement; over the final three months of the year, the casinos' gross operating profit increased by 26.1 percent from the same period in 2010, to $78.5 million.
However, over the full year only four of the 11 casinos showed increases in gross operating profits - Caesars Atlantic City, up 21.5 percent to $87.3 million; Trump Taj Mahal Casino Resort, up 9.1 percent to $55.3 million; the Showboat Casino Hotel, up 7.4 percent to $48.4 million, and Trump Plaza Hotel and Casino, which went from a $2.3 million operating loss in 2010 to a $2.6 million operating profit in 2011.
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Gambling News :
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
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