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Revenue Up and Down

It seems that Atlantic City just can’t catch a break. Every time it seems that they are starting to get ahead, something happens that pulls them back down. It has been a tough road for slots in New Jersey.

Just as they had pulled their slots revenue back up in February, March saw a drop back down again. It seems that the boost they had that brought them back up in February just wasn’t there the month after. In fact, they were down 9.9% from the same time last year. They only brought in $395 million – which seems like a lot, but not when you look at where they were previously.

With every casino in the city reporting a loss, they turn back to those things that have made this such a difficult year for them: slots in Pennsylvania have drained them of many of their loyal customers, smoking restrictions from the city have people less willing to spend their time and their money on their slots, and an economy that is scaring people into thinking they would be fools to be gambling at a time like this. Even the gas prices have people who would normally have driven down on the weekends to play staying exactly where they are.

Slots were down 11.2% at $277.3 million, and table games were down $117.7 million or 6.6%. The city knows that is has to do something soon, as they are running out of options.

Back to April 2008 Archive.