Atlantic City July stats show a 5% decline in casino revenues

Official statistics for July 2010 show that Atlantic City land casinos again experienced a decline in revenues - 5% lower than the comparable period last year - as competition from neighbouring Pennsylvania added to New Jersey casino woes.

The New Jersey Casino Control Commission reported Tuesday that revenue for the 11 Atlantic City casinos fell to $363.9 million.

The Commission's numbers show that casinos won $252.9 million at the slot machines and another $111 million at table games. Slots revenue fell 5.2% from July 2009; table game revenues decreased by 4.5%.

Competitive pressure from two neighbouring states contributed to the decline, with Pennsylvania gambling parlours introducing table games on July 8, a few weeks after Delaware did likewise.

Casino analysts have predicted that the stepped-up competition could cost a quarter of its annual table games revenue, or $300 million a year.

For the first seven months of the year, Atlantic City casinos won $21.4 billion, down 7.9% from the same period in 2009.

Source: InfoPowa News