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ATLANTIC CITY PROFITS PLUNGE IN FIRST QUARTER 2013

Thursday May 23,2013 : ATLANTIC CITY PROFITS PLUNGE IN FIRST QUARTER 2013
 
Gross operating profits dive 63 percent in the first three months of 2012
 
The New Jersey Division of Gaming Enforcement released figures this week that highlight the dramatic decline in the fortunes of Atlantic City land casinos, with gross operating profits plunging 63 percent in the first three months of 2013.
 
The 12 land USA casinos posted a collective gross operating profit of $41.4 million...down from $114.4 million in the same period last year. Total revenue for the quarter was off around 10.5 percent to $919.6 million.
 
Excluding Revel, which opened in April 2012, seven of Atlantic City's casinos saw their profits decline in the first quarter.
 
Industry executives remained optimistic despite the depressing numbers, with Gary Loveman, CEO of Caesars Entertainment, commenting that the city's outlook for the future is improving.
 
"The news is quite good," he said, "We've been through a difficult time. We are now in a period where we can feel more optimistic."
 
Much of that hope for the future rests on the success of online gambling in the Garden State now that the necessary laws are in place and progress is being made toward implementation before the end of the year.
 
Nevertheless, the independent Office of Legislative Services in the state put something of a damper on  optimistic viewpoints when it questioned Gov. Chris Christie’s projections for the sector’s tax revenue potential.
 
Christie’s advisers have estimated that up to $180 million in tax revenues could flow from internet gambling legalisation in 2014, but OLS chief David Rosen says this is not realistic, and that tax revenues next year are unlikely to exceed $30 million.
 
That prompted a tart response from Christie, who told the Bloomberg news agency that Rosen may have "lost it" or was perhaps "playing at politics."



Gambling News :

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

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.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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