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Atlantic City Casino Results Up

11 August 2004

ATLANTIC CITY - As reported by the Press of Atlantic City: "It seems the billion-dollar Borgata Hotel Casino & Spa is finally spreading the wealth instead of simply stealing business from its competitors.

"Newly released revenue figures for July indicate that the rest of the casinos were able to piggyback on the Borgata's success in one of the strongest months on record.

"…Overall, revenue increased to $474 million for July, up 8.7 percent from the same period last year, according to figures released Tuesday by the state Casino Control Commission.

"It was the second-best month ever for the 26-year-old casino industry, eclipsed only by the $474.9 million in revenue in August 2003. The strong results for July also represented a turnaround for the casino industry after a lackluster June and May.

"… This July represented the first time that a month-over-month revenue comparison could be made for the Borgata since its grand opening on July 2, 2003.

"Borgata's revenue surged 19.4 percent to $56 million, compared to $46.9 million last July.

"…[In] July, every one of the city's 12 casinos enjoyed an increase in revenue compared to the same period last year. Across-the-board monthly increases are rare, with the last one occurring in February…"

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