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Atlantic City Casinos Cash in on President's Day

20 February 2002

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "Neither the glamour of New Year's Eve, the festivities of Fourth of July nor the end-of-summer blowout of Labor Day beats what has become the casino industry's consistently biggest holiday moneymaker: plain ol' Presidents Day weekend.

"The Trump Taj Mahal slot machines last weekend realized their second and third highest-grossing days ever. Showboat's casino revenue increased more than 10 percent compared to the same weekend last year. Harrah's hotel rooms, slot machines and parking spaces were maxed out.

"…Casino officials said the combination of good weather and travelers' desires for cheap vacations close to home led to the banner three-day weekend here.

"`I would guess we did record revenues this weekend,' said David Jonas, Harrah's general manager. `It's one of the few weekends where we were capacity-constrained. It's hard to grow your business until you get more supply.'

"…[The] Trump Taj Mahal enjoyed one of its best weekends ever, said Mark Brown, chief operating officer of Trump Hotels & Casino Resorts Inc. Gamblers lost $2.5 million in the Taj's slots on both Saturday and Sunday, he said, just shy of the casino's all-time record.

"…Casino executives said other holidays - notably New Year's, Martin Luther King weekend and Fourth of July - can sometimes match or beat Presidents Day weekend for gambling volumes if the weather's good and they fall on a Monday or Friday.

"Presidents Day weekend, though, is the consistent No. 1 cash cow…"

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