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Atlantic City gaming revenues take another hit

ATLANTIC CITY, New Jersey -- As reported by The Philadelphia Inquirer: "Despite what seemed like an endless stream of cars heading toward the Shore yesterday, the casinos here say their traffic is not what it was last summer.

"Gambling revenue took a hit again last month. This seaside resort's 11 casinos pulled in $383 million in July, a 12.7 percent decline from a year ago, and just slightly better than June's nearly 14 percent drop.

"Slots revenue declined 12.4 percent, and table-games revenue fell 13.4 percent.

"'July was a continuation of what we've seen all year,' said Dan Nita, Mid-Atlantic president for Harrah's Entertainment Inc., which owns Caesars, Bally's, Showboat, and Harrah's Resorts casinos. 'The struggle, obviously, is the combination of day-trip business is not as robust as it once was, and folks that are here are spending less.'

"With the exception of Trump Taj Mahal, which was up 8.7 percent last month, the casinos all reported revenue declines..."

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