Although still down slightly, results suggest the market has begun leveling off
Gaming revenue in Atlantic City declined less than 1 percent in April to nearly snap a downward slide that goes all the way back to the summer of 2008.
A report in The Press of Atlantic City, citing N.J. Casino Control Commission numbers, said the 11 casino hotels took in $311.5 million from the slot machines and gaming tables, a decrease of only 0.7 percent compared to April 2009, the New Jersey Casino Control Commission reported.
Revenue in the nation’s second-largest casino market has declined every month since August 2008, or 20 straight months.
However, April’s results suggest the market has begun leveling off following a dreary winter of record snowfall and drenching rains. December’s revenue was down 9.8 percent, followed by an 8.5 percent decline in January, a 15.7 percent plunge in February and a 5.6 percent decrease in March.
Table games were April’s biggest highlight, up 2.9 percent to $95.6 million.
Combined, the casinos are down 7.6 percent through the first four months of the year. So far in 2010, they have won $1.17 billion from gamblers, compared to $1.26 billion for the same period a year ago.
The sluggish economy and competition from slot parlors in Pennsylvania, Delaware and New York continue to drive down Atlantic City’s revenue.
A.C. revenues rebound in April
May 12, 2010