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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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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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