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Atlantic City Casino Take Fell in December

3 January 2003

ATLANTIC CITY -- Atlantic City's 12 casinos had a 9.7 percent decline in gambling revenue in December from a year earlier, the Press of Atlantic City reported, citing unofficial figures.

The monthly decline was the worst in nine years, the paper said. The casinos won $314.2 million in December, a $33.6 million decline from last year, the paper said. Harrah's Entertainment Inc.'s Harrah's casino was the only property to report higher revenue, helped by a new hotel tower opened earlier this year.

Casinos were hurt by bad weather, a weak economy and difficult comparisons to the year-earlier period, which was the best December ever for casino revenue, the paper said. Casinos also won a smaller percentage of the money gamblers wagered at table games, keeping 15 percent of money exchanged into gambling chips, down from 15.8 percent last year.

The rest of the year may be "tough," for Atlantic City, Harrah's Atlantic City General Manager David Jonas told the paper. Jonas said he hopes the new $1 billion Borgata casino that will open later this year brings more gamblers to the city.

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