Although they enjoyed a same-store increase of 1% last month, Atlantic City casinos pulled in 14% less than last year at this time, grossing $191 million (more than some entire Midwestern states, it should be noted). Twelve percent less coin-in at the slots drove a 14.5% revenue decrease, while a sharp (22%) diminution in table play produced an 18% declivity. Borgata — grossing $56 million — spectacularly outperformed the slot market, with coin-in up 16% and table revenue off only 3.5%. Luck wasn’t with the house, as table play was incrementally up. Gambling revenue rose 9% for the month. Borgata also enjoyed the lion’s share (32%) of $13 million in Internet-gaming monies. Tropicana Atlantic City (23%) passed both the Golden Nugget (22.5%, but ascending rapidly) and Caesars Interactive (21%) for second place, as cyber-gambling continues to gain acceptance.
Over at Trump Taj Mahal, CEO Bob Griffin continues to Continued >>
Geoff Freeman continues his aggressive agenda at the American Gaming Association. In a move possibly intended to take the heat off American online casinos, he’ll calling for — and promising the AGA will take the lead in — a beatdown on illegal and merely shady forms of gambling, such as Continued >>
It may feel good for Glenn Straub to spit defiance (“We will never give in to blackmail. Let them dig their own grave, along with endangering other peoples’ lives.”) at the ACR power plant that just cut off water and electricity to Revel but it’s a Pyhrric victory. All manner of bad things can happen to the mammoth casino-hotel while it’s powerless (and it will take as long as two weeks to reroute its systems into the adjacent Showboat grid), including burst pipes, mold formation and fire hazards that could turn the 47-story Revel into a real-life towering inferno. With its fire-suppression systems out of commission, Revel is racking up $5,000 a day in fines and has lost its certificate of occupancy.
ACR says it’s willing to Continued >>