Sunday, October 12, 2008

Atlantic City Casinos Report Largest Monthly Decline In History

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Atlantic City's 11 casinos reported a 15.1 percent decline in September gaming revenues compared to the same month in 2007, according to figures released yesterday by New Jersey regulators.

September's decline is the largest one-month decrease in Atlantic City's history. Slot machine revenue fell 18.6 percent (to $244.7 million) while table revenue decreased 6.2 percent to $111.2 million. Every casino in Atlantic City reported a decline in its gaming revenues in September.

For the nine months through September, gaming revenues in Atlantic City were down 6.3 percent from the year before. This year is shaping up to be the second consecutive year that Atlantic City has posted lower year-over-year revenue declines.