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Atlantic City casino May revenues down

12 June 2007

ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "Gaming revenue in May fell for the fourth month this year, leading some casino executives to predict that the industry will see a year-over-year decline for the first time in its 29-year history.

"Gaming revenue at the city's 11 casinos declined 5.5 percent, largely as a result of increased competition in New York and Pennsylvania, executives said. May also was the first full month of a partial smoking ban that limited smoking to 25 percent of the gaming floor, although that was cited as a far less significant factor.

"...In May, Atlantic City casinos took in a combined $408.8 million in gaming revenue, down from $432.5 million last May. Citywide casino "win" was $2 billion for the first five months of the year, down 4.4 percent from $2.1 billion for the same period last year.

"Two-thirds of the casinos saw gaming revenues decline, with the Hilton and Tropicana Casino and Resort facing double-digit decreases. Slot winnings for the industry fell 7 percent to $294 million, while table game revenue fell 1.4 percent to $114.8 million.

"...The gaming revenue decline was less when figures from the Sands Casino Hotel, which closed last November, were not included. Industry revenue fell 1.9 percent without the Sands, which took in $15.8 million last May.

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