Atlantic City Casino Revenues Rise For First Time in 3½ Years
By David Madden
ATLANTIC CITY, N.J. (CBS) — For the first time in 3½ years, revenues are up at Atlantic City’s 11 casinos.
The last time the casino “win,” as it’s called, was up was in August 2008.
December’s increase of 4.2 percent was particularly important for where that increase occurred, according to Israel Posner, a gaming analyst at Richard Stockton College.
“The slot win was up over eight percent, which is huge — especially when you see that it’s consistent across all 11 properties across Atlantic City,” he tells KYW Newsradio.
Posner credits good weather last month paired with a slowly improving economy — although, he points out, one month does not a trend make.
What could really make a difference, he says, is the opening of the city’s 12th casino, Revel, set for this coming spring.