Atlantic City Casino Revenue Still Down But Doing Better
PHILADELPHIA (CBS) – Revenues at Atlantic City’s 11 casinos are down again for the month of February but not by much.
Gross revenues or what the casinos call their “win” came in at $258 million last month, down 1.4% one of the smallest declines in a couple years. That might make one think Atlantic City’s starting to come to terms with all the regional competition. Think again.
Joe Weinert, an analyst with Spectrum Gaming Group, suggests you take weather into account. “February of last year was one of the snowiest months around here. So they’re being compared to very depressed results.”
Slot revenue actually increased 4.5 percent, their best performance in 4 years while table games were down over 13. Blame that on the new table games in Pennsylvania.
Weinert believes rough times are still ahead down the shore probably until the new Revel casino opens sometime next year.
Reported By David Madden, KYW Newsradio.