Another dismal month for Atlantic City casinos

Official statistics for July 2010 show that Atlantic City land casinos again experienced a decline in revenues – 5 percent lower than the comparable period last year – as competition from neighbouring Pennsylvania added to New Jersey casino woes.  

The New Jersey Casino Control Commission reported Tuesday that revenue for the 11 Atlantic City casinos fell to $363.9 million.

The Commission’s numbers show that casinos won $252.9 million at the slot machines and another $111 million at table games. Slots revenue fell 5.2 percent from July 2009; table game revenues decreased by 4.5 percent.

Competitive pressure from two neighbouring states contributed to the decline, with Pennsylvania gambling parlours introducing table games on July 8, a few weeks after Delaware did likewise.

Casino analysts have predicted that the stepped-up competition could cost a quarter of its annual table games revenue, or $300 million a year.

For the first seven months of the year, Atlantic City casinos won $21.4 billion, down 7.9 percent from the same period in 2009.