Atlantic City Casino Revenue Drop Levels Off
Atlantic City Boardwalk
Casino operators in Atlantic City are breathing a collective sigh of relief, after it was revealed Atlantic City may be recovering from the financial slump it’s been suffering from for the past three years. New figures published this week reveal that in April 2010, revenue dropped by less than one percent when compared with 2009’s financial figures. Ever since the recession in the United States, casino revenues in the New Jersey city have been rapidly nose-diving. However, these new figures indicate that business owners in Atlantic City may now have weathered the worst of the financial storm.
The financial report suggests that the one percent decrease in revenue is the smallest decline in 20 months. Four casinos in Atlantic City posted revenue increases for April, with Harrah's Resort Atlantic City reporting a 13.3% profit increase up to $41.5 million, when compared with 2009’s figures for the same month. However, six casino operators reported revenue losses, suggesting Atlantic City isn’t out of the woods just yet. It’s also believed that Pennsylvania’s decision to allow casinos in the state to offer table games will cause revenue losses in Atlantic City. Revenue on table games in April totalled in at $95.6 million – and increase of almost three percent when compared with 2009’s figures.
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