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AC casino win down nearly 10 percent in April
 Message was posted: 09:43 May 10th, 2007     
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Casino news source: Newsday - http://www.newsday.com


AC casino win down nearly 10 percent in April
By WAYNE PARRY
Associated Press Writer

May 10, 2007, 4:01 PM EDT

ATLANTIC CITY, N.J. -- April was the cruelest month _ so far _ for the city's 11 casinos this year, with the amount won from gamblers declining by nearly 10 percent.

The casinos reported taking in $396.8 million in April, a 9.9 percent decrease from April 2006.

Slots revenue was $284.4 million, down 12.3 percent, while table games revenues were $112.4 million, a decrease of 3.1 percent from a year ago.

For the first four months of the year, Atlantic City casinos won $1.6 billion, down 4.1 percent from the same period last year.

It was just the latest indication of the hurt that new slots parlors in Pennsylvania and New York are putting on Atlantic City's gambling houses.

Several observers fear that 2007 could be the first losing year ever for New Jersey's casinos, the first of which opened in 1978.

Win, or casino revenue, is the amount of money won from gamblers. It is not profit.

Losers were led by the Trump Taj Mahal Casino Resort, where revenues fell 19.7 percent; the Tropicana Casino and Resort, which fell 13.4 percent, and Trump Marina Hotel Casino, which fell 13.2 percent.

On the plus side, Caesars Atlantic City saw its winnings increase by 15.3 percent in April; and Harrah's Atlantic City was up 1.9 percent.

In addition to the ongoing competition from out-of-state slots parlors, several factors also conspired against Atlantic City casinos in April, including unseasonably late bad weather, and more stringent smoking restrictions that went into effect on April 15.

They restricted smoking to no more than 25 percent of the gambling floor.

Casinos paid $31.7 million in taxes on their gross revenues in April, and another $5 million in state-mandated community reinvestment obligations.





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