Atlantic City January Revenues dip by 7.2 percent

02/12/2012 : DISMAL JANUARY FOR ATLANTIC CITY

Revenues dip by 7.2 percent

The January numbers for Atlantic City casinos have been released by the New Jersey Division of Gaming Enforcement, but will hardly be comforting for operators.

Casino revenue fell 7.2 percent in January, depriving the Atlantic City gaming industry of its first back-to-back monthly increase since late 2006, according to the Press of Atlantic City assessment.

Altogether, the 11 casino hotels posted $236.9 million in revenue from slot machines and table games compared to $255.4 million in January 2011. Slot machine revenue was virtually unchanged at $164.7 million, but table games revenue plunged 20.2 percent, to $72.2 million compared with a year ago.

The casinos hold percentage at table games was 14.8 percent, compared with 16.6 percent in January 2011.

Unusually mild weather has helped drive casino visits this winter, and hopes rose on increased revenues that were 4 percent up in December 2011, marking the first time in 40 months the casinos had shown an improvement.

State gaming regulators note that there was one fewer Saturday in January, which could have been a contributing factor in the decline; Saturdays are usually a major source of revenue for the casinos.

Only two of the 11 Atlantic City casinos showed increases in January 2012 revenues: The Golden Nugget Atlantic City, up 3.4 percent to $9.6 million; and Resorts Casino Hotel, up 3.2 percent to just over $10 million. The poorest performer was the ACH, where revenues plunged 20.6 percent to $7.8 million.

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