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AC Casinos cut 1,000 jobs in November

3 December 2008

ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "Casinos slashed nearly 1,000 jobs in November as the sagging economy and competition from Pennsylvania's slot parlors continue to batter the Atlantic City gaming market.

"With the latest round of job cuts, the industry's work force has shrunk to 39,137 employees, the first time in memory it has dropped below 40,000. Employment peaked at 51,560 workers in July 1997, according to the New Jersey Casino Control Commission.

"Borgata Hotel Casino & Spa had the sharpest reduction in its work force in November, cutting 430 jobs in the first mass layoff since the Las Vegas-style megaresort opened in 2003, statistics show.

"Resorts Atlantic City was the only casino that increased its payroll in November, adding just four jobs to boost its total employment to 2,459.

"The industry has cut 3,000 jobs during the last four months in response to Atlantic City's worst slump in its 30-year history of casino gambling. Gaming revenue has tumbled 6.6 percent to $3.9 billion in the first 10 months this year..."

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