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Atlantic City Casino Win Up

3 December 2002

ATLANTIC CITY – As reported by the Press of Atlantic City: "Casino industry revenues remained in their steady-but-unspectacular mode last month, rising 2.9 percent over the same period last year.

"The dozen casinos won $351.9 million from gamblers in November, a gain of $10 million, according to unofficial results obtained Monday by The Press of Atlantic City.

"The monthly gain was the industry's 13th straight, but over the last eight months the revenue gains have averaged 2.5 percent - barely ahead of the inflation rate.

"…`I don't see (the trend) changing, but I also think it's a strong trend considering the economy is sluggish, the stock market is down and people are fearful the country may be going to war in Iraq,' said Andrew Zarnett, a Deutsche Bank Securities gaming analyst.

"…Slot-machine revenue increased 4 percent in November, to $261.3 million. Table-games revenue continued its year-long slide, down 1.2 percent as gamblers wagered slightly less and were a bit luckier compared to a year earlier.

"…The two Harrah's Entertainment casinos led the city in November revenue growth.

"…Combined revenue at the three Trump casinos increased 5.3 percent, helped by a big swing of good luck at Trump Plaza.

"…Sands, bouncing back from its decision to discard most of its table games in June, reported an 11.1 percent gain in slot revenue - second-best behind Harrah's…"

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