Wednesday, November 12, 2008

Atlantic City Casino Revenue Down About 10% In October

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Revenues at Atlantic City's 11 casinos fell 9.9 percent in October, which was better than the 15.1 percent decline recorded by the casinos in September.

The eastern regional president for Harrah's Entertainment, which owns 4 of the 11 casinos in Atlantic City said in an AP story, "I truly don't think we've seen the worst yet."

Atlantic City is facing strong competition from the slot parlors in Pennsylvania, which began opening over the last two years, and from a worsening economy.

Slot revenue at the casinos for October was $235.9 million, down 12.7 percent, and table game revenue was $110.3 million, down 3.3 percent.

Mohegan Sun and Foxwoods are expected to release their October slot revenue figures later this week.