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Atlantic City Gambling 2009 a year of declining revenues
1/20/10 - The latest numbers from the New Jersey Casino Control Commission, show that gaming revenues in Atlantic City dipped 13.2 percent during the 2009 calendar year compared to 2008. Nevertheless, land casinos in the area generated $3.9 billion.
The Commission revealed that declines in revenues from slot and table games were causes for concern; slots revenues declined 13.1 percent in 2009 to $2.72 billion, while table game revenue fell 13.5 percent to $1.22 billion.
New Jersey gaming licensees paid $295.3 million in taxes to the state, or 8 percent of taxable gross revenue. Casinos invested a further $49.3 million as part of a state requirement that operators reinvest 1.25 percent of taxable gross revenues in projects approved by the Casino Reinvestment Development Authority.
The Commission's chairperson, Linda Kassekert, said in a statement this week: “Casinos continued to suffer in 2009. The weak national economy, growing competition across our borders, and the partial ban on smoking in casinos combined to depress gaming revenues.
She was referring to gambling expansion in Pennsylvania and Delaware which are inducing additional competitive pressures, whilst in New Jersey Senator Raymond Lesniak recently introduced a bill to allow intrastate internet gambling as a response.
Kassekert remains optimistic that Atlantic City can continue to attract visitors to its casinos: “Atlantic City has a lot to offer visitors in addition to gambling. When the economy improves and people have more money to spend on entertainment, Atlantic City will draw more and more people interested in visiting our shops, enjoying a concert, dining in our fine restaurants, and relaxing on our beach,” she opined.
However, December numbers were not encouraging, in stark contrast to improvements noted in Nevada for the first time in almost two years. Atlantic City casino revenues for the last month of 2009 declined year-on-year by 9.8 percent to $272.1 million. It was a bad end to a worse year, as every casino operation reported shrinking revenues by up to 20 percent in some cases. The Borgata was the exception to the rule - still down, but only by 5.9 percent to $695.3 million.
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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.
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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.
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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 -
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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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