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Atlantic City casinos continue revenue slump

10 July 2009

ATLANTIC CITY, New Jersey -- As reported by The Press of Atlantic City: "Casinos reported $322.7 million in casino win in June, a 13.6 percent decrease over the same month a year ago.

"Results reported to the New Jersey Casino Control Commission Friday show that the 11 casinos won $227.5 million at the slot machines and another $95.3 million at table games in June. Slot revenue fell 14.5 percent while table game revenues decreased by 11.3 percent.

"...After adjustments and a deduction for promotional gaming credits, casinos paid $23.5 million on taxable gross revenue of $293.9 million in June. That money, 8 percent of taxable gross revenue, goes into the Casino Revenue Fund which pays for programs that benefit qualifying senior citizens and people with disabilities.

"...For the first six months of the year, casinos won $1.94 billion, down 15.3 percent from the same period in 2008. Revenue from slot machines is down 15.9 percent and revenue from table games is down 14.1 percent for the four months. Taxable gross revenue fell 18.2 percent to $1.87 billion..."

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