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No surprise: AC casino revenue down in November

ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "The resort's casinos don't have much to be thankful for in November gaming revenues, as the industry nears the close of its second straight year of decline.

"Figures released Wednesday by the Casino Control Commission showed a 7.8 percent revenue decline, slightly lower than the 9.9 percent drop for October, but a notable improvement from September's 15.1 percent plunge - the largest since gaming began here 30 years ago.

"The total casino win from slot machines and table games in November was $345.5 million. Six casinos saw double-digit declines, while only two managed revenue increases over last year.

"For 28 years, Atlantic City's gaming industry enjoyed year-over-year revenue gains until last year, when the 11 casinos were off 5.7 percent. They would have to take in nearly $677 million this month in order for 2008 revenue to be on level with the $4.92 billion collected in 2007.

"December is historically a slow month, generating about $415 million in revenue in 2006, its best year..."

copyrighted material written for and appeared exclusively in The Press of Atlantic City

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