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Atlantic City Casinos Reports Record-Breaking September

13 October 2004

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "It seemed like a long time ago. Temperatures were in the 80s, sunbathers still crowded the beaches and 10,000 striking workers had not yet descended on the casinos.

"Those factors added up to double-digit gains for the gaming industry in September, a record-breaking month that capped a reasonably strong summer season.

"Altogether, the city's 12 casinos raked in $408.9 million in revenue in September, a 10.8 percent increase over the same period last year. It was the best September since legalized gambling began here in 1978.

"…As it had done in preceding months, Borgata racked up huge gains in September. Revenue jumped 30.1 percent, giving Borgata $54.7 million in winnings for the month, second only to Bally's Atlantic City, at $56.2 million.

"… Borgata cannibalized the market for several months after it opened in July 2003, but September's results suggest the megaresort also helped other casinos by drawing new visitors to Atlantic City.

"…In addition to Borgata, Harrah's Atlantic City, Showboat Casino Hotel and Resorts Atlantic City all enjoyed double-digit revenue growth in September. They capitalized on recent expansion projects that boosted their room inventory…"

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