To term Atlantic City’s fortunes in recent times as a rough ride might be an understatement in itself. USA’s largest casino resort outside of Las Vegas has seen fortunes dip almost as quickly as the roof on the Metrodome deflated over the weekend, and the latest results do nothing to fan the flames.
According to reports on Bookmakersinc, casino gambling profits made by AC casinos fell 13%, mainly down to new casinos in Maryland and Philadelphia, and table games being added in Pennsylvania and West Virginia. In particular, revenue from slot machines at 11 casinos have dropped off by as much as 12% compared with the year before to $182.2million.
Table proceeds also saw a decline of 14% to $79.5m as a three-year decline for the resort shows no signs of slowing.
“The combined impact of the economy and increased competition continue to depress gaming revenues,” Commission Chairman Linda Kassekert said in a statement today. “People continue to spend time and money in Atlantic City, but they are looking for things other than just gaming.”
The knight in shining armour for AC casinos may well be Sen. Raymond Lesniak’s online gambling bill but if that doesn’t work maybe diversification into the air conditioning market might be the next step. AC from AC!