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Atlantic City Casino Revenue Growth Worst Ever

15 January 2002

ATLANTIC CITY, New Jersey –– As reported by The Press of Atlantic City: "It's official: By a mere $2.2 million - a high roller's bad night at the tables - the local casino industry extended its perfect record of annual revenue increases to 23 years.

"The city's dozen casinos finished last year with gross gambling revenue of $4,302,920,583 - an increase of 0.05 percent over the previous year, according to official results released Monday by the New Jersey Casino Control Commission.

"Still, it was the industry's worst revenue growth ever, supplanting the 1.4 percent gain reported in 1991.

"…The official December revenue results showed a 17.6 percent gain, lower than the preliminary 18.2 percent gain reported last week.

"…Slot machines returned 91.97 percent of wagers to gamblers, the 20th time in 23 years slot payouts improved over the previous year. Last year's payout was 91.83 percent.

"…Slot machine revenue increased 1.7 percent to $3.14 billion.

"Table-games revenue declined 4.2 percent to $1.16 billion, the seventh decline in the industry's history. Only the 7.1 percent decline of 1991 was worse…"

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