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ATLANTIC CITY, N.J. (AP) -- Spring has sprung, and there's new life seemingly everywhere -- except in the 11 Atlantic City casinos.
April figures released Friday by the state Casino Control Commission showed yet another down month in the resort, which is still grappling with out-of-state competition, a slowing economy and smoking restrictions.
Revenue fell to $365.5 million, down 7.9 percent from April 2007. Slot machine revenue was $259.3 million, down 8.8 percent, and table game revenue was $106.2 million, down 5.5 percent.
Only one Atlantic City casino -- Harrah's Resort Atlantic City -- had an increase in April, up 2.7 percent to $43.3 million.
"I wish I had more optimistic things to say," said Scott Barber, Harrah's senior vice president and general manager. "As gas prices continue to creep up -- oil went over $126 a barrel today -- I don't know if there's any light at the end of the tunnel anytime soon."
The Showboat Casino Hotel posted the biggest decline at 18.2 percent.
The Trump Taj Mahal Casino Resort and the Atlantic City Hilton Casino Resort each took a beating in April; both were down 15.2 percent. Mark Juliano, CEO of Trump Entertainment Resorts, attributed much of the problem to bad luck at the table games, where customers walked away with more in their pockets than usual for the month.
Other big losers included Caesars Atlantic City (down 11.7 percent); Bally's Atlantic City (down 10.5 percent), and Resorts Atlantic City (down 7.2 percent).
The Tropicana Casino and Resort was down 5.3 percent, the Borgata Hotel Casino & Spa was down 2.6 percent, while the two remaining Trump casinos were essentially flat. Trump Plaza Hotel and Casino was down 0.3 percent and Trump Marina Hotel Casino was down 0.2 percent.
Casinos paid $29.2 million in taxes on their gross revenues in April. They also paid an additional $4.6 million in state-mandated community reinvestment obligations.
For the first four months of the year, Atlantic City's casinos won $1.5 billion, down 6.7 percent from the first quarter of 2007.
http://www.dailyrecord.com/apps/pbcs.dll/article?AID=/20080509/UPDATES01/80509029
April figures released Friday by the state Casino Control Commission showed yet another down month in the resort, which is still grappling with out-of-state competition, a slowing economy and smoking restrictions.
Revenue fell to $365.5 million, down 7.9 percent from April 2007. Slot machine revenue was $259.3 million, down 8.8 percent, and table game revenue was $106.2 million, down 5.5 percent.
Only one Atlantic City casino -- Harrah's Resort Atlantic City -- had an increase in April, up 2.7 percent to $43.3 million.
"I wish I had more optimistic things to say," said Scott Barber, Harrah's senior vice president and general manager. "As gas prices continue to creep up -- oil went over $126 a barrel today -- I don't know if there's any light at the end of the tunnel anytime soon."
The Showboat Casino Hotel posted the biggest decline at 18.2 percent.
The Trump Taj Mahal Casino Resort and the Atlantic City Hilton Casino Resort each took a beating in April; both were down 15.2 percent. Mark Juliano, CEO of Trump Entertainment Resorts, attributed much of the problem to bad luck at the table games, where customers walked away with more in their pockets than usual for the month.
Other big losers included Caesars Atlantic City (down 11.7 percent); Bally's Atlantic City (down 10.5 percent), and Resorts Atlantic City (down 7.2 percent).
The Tropicana Casino and Resort was down 5.3 percent, the Borgata Hotel Casino & Spa was down 2.6 percent, while the two remaining Trump casinos were essentially flat. Trump Plaza Hotel and Casino was down 0.3 percent and Trump Marina Hotel Casino was down 0.2 percent.
Casinos paid $29.2 million in taxes on their gross revenues in April. They also paid an additional $4.6 million in state-mandated community reinvestment obligations.
For the first four months of the year, Atlantic City's casinos won $1.5 billion, down 6.7 percent from the first quarter of 2007.
http://www.dailyrecord.com/apps/pbcs.dll/article?AID=/20080509/UPDATES01/80509029