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Atlantic City Reports So-So January Results

4 February 2001

ATLANTIC CITY - Feb. 4, 2001 -- As reported by Atlantic City PressPlus: "A bad calendar, bad weather and bad luck gave the local casino industry a so-so January.

"The 12 casinos reported gross gaming revenue of $311.4 million last month, a 1.6 percent increase over the same period last year, according to unofficial results obtained by The Press.

"…Casinos were unluckier at the tables, `holding' 14.5 percent of the money exchanged into chips compared to 15.5 percent a year earlier.

"Executives also blamed snow here and in the primary feeder markets of Philadelphia and New York for keeping gamblers away on certain days.

"Still, casinos reported a healthy 5.3 percent gain, to $224.5 million, in slot-machine revenue, which is by far their biggest revenue source.

"Resorts Atlantic City reported the biggest percentage gain in revenue, up 16.7 percent to $16.9 million. It played luckier at the tables and also had a surge in slot volume.

"…Trump Taj Mahal was revenue king for the month at $39.3 million, but that was down 1.9 percent due to worse luck at the tables.

"Bally's Park Place finished close behind at $38.5 million, down 1.2 percent on bad luck, with Caesars third at $37.6 million, up 9.8 percent due mostly to better luck.

"Two casinos reported sharp revenue declines, both due to unusually low hold percentages. Sands, which held 9.3 percent at the tables, dipped 10.7 percent to $15.1 million and the Atlantic City Hilton, which held 9 percent at the tables, dipped 7.6 percent to $20.8 million…"

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