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Hurting AC casinos brace for newest nearby competitor

12 May 2009

ATLANTIC CITY, New Jersey -- As reported by the Philadelphia Inquirer: "As Pennsylvania's gambling market expands, analysts say Atlantic City's casinos haven't hit bottom yet. Figures released yesterday underscored their point: Last month's revenue at Atlantic City's 11 casinos plunged 14.2 percent from April last year. Meanwhile, April revenue at Pennsylvania's seven slots parlors rose 13.8 percent - to $150.7 million - from the year before.

"The April decrease in Atlantic City - to $313.6 million - was an improvement from the revenue declines of 19.4 percent in March and 19.2 percent in February. But it's what's in store later this month that has casino operators here anxious. Atlantic City will soon face a formidable competitor: the $743 million Sands Bethlehem Casino in the Lehigh Valley, which will open May 22 with 3,000 slot machines. By mid-November, the massive casino will ramp up to 5,000 slots..."

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