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11 New Jersey land casinos feel the pain of surrounding competition
Revenue for the second-largest gambling market in the United States – New Jersey’s Atlantic City - fell more than 11 percent to $286.8 million in June, according to statistics from the Associated Press news agency published late Friday.
The tough economic conditions which have hammered the gambling centre for the past two years have been exacerbated by growing competition for gamblers’ money from adjacent states.
Pennsylvania started offering table games on Thursday, a few weeks after Delaware did likewise.
The increased competition could cost Atlantic City about a quarter of its annual table games revenue, or about $300 million a year, according to analysts consulted by AP.
The competitive action at Pennsylvania slot parlours has been impacting Atlantic City since late 2006, and the state will soon have nine casinos offering the same gambling options as Atlantic City — but much closer to home for Pennsylvania players, AP reports.
Table games revenue for Atlantic City fell 16.2 percent in June 2010 to $79.9 million. Slot revenue fell 9 percent to $206.9 million.
Only one of the city’s 11 casinos posted a revenue increase; Trump Marina Hotel Casino, edged up scant 1.3 percent.
According to the Associated Press report, Resorts Atlantic City, which turned itself over to its lenders in December when it could no longer pay its mortgage, posted the biggest drop, nearly 20 percent.
Caesars Atlantic City’s revenue sank 17.8 percent, the Trump Taj Mahal Casino Resort dropped 13.5 percent, Trump Plaza Hotel and Casino fell 13.2 percent, and Harrah’s Resort Atlantic City fell 13 percent. Showboat Casino Hotel declined 12.4 percent, the Borgata Hotel Casino & Spa fell 11.7 percent, and the Atlantic City Hilton Casino Resort slid 7.7 percent.
The Tropicana Casino and Resort fell 5.9 percent and Bally’s Atlantic City was down 3.2 percent.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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