Wednesday, May 12, 2010

Las Vegas Strip Casinos Post 2.4% Increase In March, Atlantic City Casino Revenue Off Less Than 1% In April

Feather News

Even more startling than Las Vegas Strip casinos' fourth increase over the past five months of reported gaming revenue is Atlantic City's comeback: registering less than a one percent decline in casino revenue during the month of April.

The small decline in revenues for the 11 casinos in Atlantic City, a .7 percent decline when compared to the same month last year, was their best month since August 2008 when the casinos reported a .7 percent increase in revenues.

The revenue reported by the casinos in Nevada (the most recent report is for the month of March) trail those of New Jersey by one month.

Last month, we reported that the Las Vegas Strip casinos posted a whopping 33 percent increase in its February gaming revenues, the largest monthly increase in over 10 years which was driven in large part by a 255 percent increase in baccarat.

Slot machine win on the Las Vegas Strip increased by slightly less than one percent (0.09%)in March, breaking a 20-month streak of consecutive monthly declines. The last monthly slot machine revenue increase was reported in August 2008. Penny slots on the Strip were up 10.3 percent for the month.

While the Las Vegas Strip casinos are posting gains, casinos statewide in Nevada posted a .66 percent decline in March compared to the same month last year. Las Vegas Strip casinos generate over 50 percent of the total casino gaming revenues in Nevada.

Mohegan Sun and Foxwoods are expected to report their April slot revenue figures on Friday.