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2010 ANOTHER POOR YEAR FOR ATLANTIC CITY

Posted 1/11/11 : Over four years, the USA's second largest gambling mecca's fortunes have declined by a third.
 
The official numbers for 2010 confirm the perceptions over the past twelve months that Atlantic City - America's second biggest gambling centre - is still in decline.
 
Year-end figures released Monday show Atlantic City casinos took in $3.6 billion in 2010, a year-on-year drop of 9.6 percent, and down from $5.2 billion in 2006. The poor results marked a fourth year of decline in which the region has lost almost a third of its business.
 
Since the decline began in 2007, the southwards-heading stats have been a bitter pill to swallow after a history of 28 consecutive years of soaring casino revenues.
 
Associated Press took a positive approach, noting that moves in the New Jersey legislature (see previous InfoPowa reports) bring the hope that 2011 might be the year in which the bleeding finally stops. The initiatives include a state-run tourism district in the casino zone and less regulation for the 11 gambling halls.
 
"This is the year I actually look at the glass as being half-full," said Bob Griffin, CEO of Trump Entertainment Resorts, which owns three casinos here
 
He told AP that he expected the first nine months of 2011 to continue to show revenue declines, but said he believes that Atlantic City will finally show some revenue growth in the fourth quarter.
 
Don Marrandino, eastern regional president of Caesars Entertainment, said: "Retail business has grown dramatically. More people are paying for hotel rooms and spas. Restaurant concepts continue to work their way into the market.
 
"It’s been a banner year for entertainment," he added. "Boardwalk Hall was one of the top grossing mid-sized halls in the country. Boxing matches do well here. We had a tennis match that was the highest-attended in the state."
 
Despite the optimism, the statistics painted a weak picture, with gambling revenue down at every casino in the city in 2010, ranging from 4.2 percent at the Tropicana Casino and Resort, which took in $300.4 million, to 19 percent at Resorts Atlantic City, which took in $155.2 million. Slot revenue was down 9 percent to $2.48 billion, while table games revenue fell 10.9 percent to $1.09 billion.
 
In the month of December, casino revenues fell 12.8 percent to $237.2 million, impacted by competition from other centres and a massive snowstorm between Christmas and New Year’s that wiped out much of the most profitable week each December.
 
The revival plans of New Jersey Governor Chris Christie revolve around the creation of a state-run tourism district encompassing the 11 casinos and the Boardwalk. It will function as a city-within-a-city in charge of its own police protection, cleanliness, traffic and development. Regulations will be simplified to make the environment more efficient and cost-effective for developers and operators, and a newly created Commission will monitor progress

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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