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November Atlantic City NJ Revenues Down Again
12/11/09 - Following on the heels of dismal results from Nevada land casinos during October, the news from Atlantic City is equally bleak.
Hopes that the worst was over for the New Jersey gambling mecca faded on the release of November numbers that showed another double digit decline as revenues for the city's 11 casinos fell by 13.4 percent compared to the same month a year ago.
Associated Press reports that September and October had seen only single-digit decreases, giving the industry hopes that the turnmaround was in sight, but it was not to be.
Overall, the casinos won $299.3 million, with slots revenue accounting for $206.8 million of that total.
"There's no sugar coating it," Joe Weinert, senior vice president of Spectrum Gaming Group, a New Jersey casino consulting firm told Associated Press. "It's another poor result for the Atlantic City casinos."
There's more pain in store for Atlantic City in the year ahead, Weinert said, because still more competition is coming. He noted the scheduled opening of the Sugar House casino in Philadelphia and live table games likely to begin operating in Delaware and possibly also in Pennsylvania.
Only one Atlantic City casino saw an increase in revenue in November, and that was minuscule: 0.1 percent at the Showboat Casino Hotel.
For the 11 months of 2009 thus far, casino revenues are down 13.5 percent compared with 2008.
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Gambling News :
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.
Pennsylvania Online Gambling Updates -
Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
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