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August Win Has Atlantic City Casinos Smiling

6 September 2001

ATLANTIC CITY, New Jersey –Sept. 6, 2001—As reported by the Atlantic City Press Plus: "An extra Friday, good luck, better weather and maybe pent-up demand led the local casino industry to its second-best month ever in August.

"The dozen casinos won $426.9 million from gamblers last month, an increase of 5.3 percent over the same period last year, according to unofficial figures obtained by The Press of Atlantic City.

"…It was a pleasing end-of-summer result for the industry, which reported revenue declines in June and July. Gross gambling revenue during the three-month summer period was $1.2 billion, down 0.3 percent.

"…Several factors worked to the industry's advantage last month:

"Compared to last year's August there was an extra Friday, which this year kicked off a packed Labor Day weekend in the city.

"Casinos had good luck at the gaming tables, keeping 16.8 percent of the money exchanged into chips compared to 15.7 percent a year earlier.

"Better weather compared to last year's wet and relatively cool August.

"…Through the first eight months this year, citywide casino revenue was $2.9 billion, 0.6 percent behind last year's pace. The industry has never reported an annual revenue decline in its 23 years.

"…Citywide slot-machine revenue, which accounts for nearly three-quarters of the industry's business, rose 5.7 percent to $307.2 million. Table-games revenue rose 4.4 percent to $119.8 million.

"Sands reported the biggest percentage gain in overall casino revenue, up 19.2 percent to $23.8 million, due mostly to a big swing of good luck compared to a year ago.

"…The Atlantic City Hilton Casino Resort reported an 11.7 percent revenue gain due to a return to normal luck at the tables.

"…The Trump Taj Mahal Casino Resort was revenue king for the month at $58.8 million, down 1.5 percent from the citywide monthly record it set a year earlier…"

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