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Atlantic City Casino See 10.5% Revenue Fall in March

Atlantic City Casino See 10.5% Revenue Fall in March

Atlantic City’s 12 gambling houses saw casino revenue drop by 10.5% in March compared to last year. Last month the casinos took in $238.5 million of which almost $173 million came from slow machines, 10% less than last year, and $65.6 million came from table games, down by almost 13% from last year.

Atlantic City Casino See 10.5% Revenue Fall in March

Atlantic City’s casinos suffered last month as nearly all of them saw a significant drop in revenues compared to the same period last year

Only one casino saw an increase in revenue, the Atlantic Club was up by almost 33% to $12.6 million. The casino is being purchased by PokerStars and has seen revenues steadily increase over the past few months. The casino has been trying to attract low-rollers and those seeking affordable food, drink and table games and clearly the strategy has been working.

The Trump Plaza Hotel Casino saw the biggest fall in revenues; it was down almost 31% to $6.8 million. The Showboat Casino Hotel fell 24.3% to $16.8 million while Caesars Atlantic City was down 22.8% to $24.1 million.

One of the reasons that the overall slot machine revenue fell was due to a 20% decline in the amount of promotional credits that customers bet last month compared to the same period in 2012. During the first three months of this year $656 million was won from gamblers by Atlantic City casinos, a 12% drop from last year.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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