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Atlantic City results down

12 May 2008

ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "Casino table games, formerly one of the few bright spots for an industry hurt by the faltering economy and gambling competition from Pennsylvania, have begun following the slot machines in a downward trend.

"Slot winnings slipped 8.8 percent to $259.3 million, and table game revenue was off 5.5 percent to $106.2 million in April, according to figures released Friday by the New Jersey Casino Control Commission.

"Overall, gaming revenue fell 7.9 percent to $365.5 million as the casinos struggled with the same problems that have plagued them for the past year: competition from Pennsylvania's slot parlors, the economic slowdown, higher gas prices and the lingering effects of Atlantic City's partial casino smoking ban.

"Every property in town except for Harrah's Atlantic City suffered a revenue drop in April.

"...Pennsylvania's newly-opened slot parlors have been blamed as the chief culprit for the city's financial troubles.

"...Of the 11 casinos, only Trump Plaza Hotel Casino had higher slot revenue - a mere 0.2 percent - in April. Harrah's was the only casino to post an overall increase in revenue for the month, a modest 2.7 percent, thanks to a 56.2 percent increase in table winnings. Harrah's attributed the revenue growth to the grand opening in March of its 960-room hotel tower..."

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