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PHILADELPHIA (CBS) – Revenues at Atlantic City’s 11 casinos were down again last month, but by less than one percent, leading some to suggest the gaming profit free fall may be about to end.
To get excited about a loss may sound crazy, but September’s drop of .6 percent has analysts like Joe Weinert at the Spectrum Gaming Group feeling cautiously optimistic about Atlantic City’s casinos.
“The Atlantic City casino industry has been getting hit pretty hard over the last five years, and a result like this is seen as a hopeful sign that, perhaps, the city is getting close to the bottom.”
The next few months will prove if that is, in fact, the case. Next year, a new marketing campaign for Atlantic City gets into high gear. That, paired with the planned opening of the new Revel casino, could fuel a comeback. Although Weinert says the hotels have been beefing up their non-gaming operations, which could also lure in tourist gamblers to offset regional competition.
Reported By David Madden, KYW Newsradio