Posts Tagged ‘mohegan sun’

Atlantic City Casinos Continue Dropping Revenue; Donald Trump’s Toupee Lives On

Monday, June 14th, 2010

While it’s always a good idea to keep up with the going-on’s in the world of online casino gambling, it’s only right that those of us participating in online gambling activities stay abreast with what is happening in the bricks ‘n mortar world. After all, we are competition, aren’t we? Okay, maybe that’s a debate for another blog post, but nonetheless – contrary to what you’ve heard – what happens in Vegas, really shouldn’t always stay in Vegas.

In the U.S., it’s pretty much common knowledge that Las Vegas has been steadily declining in revenue since the “economic meltdown”. As for Atlantic City, well, let’s just say it’s a little more difficult to pinpoint exactly when the east coast casino gambling hotspot started going downhill. I suppose the better question is, “When did Atlantic City actually ever make any money?”. Or even better, perhaps the question should be fielded by that guy with the crazy toupee – what’s him name, Trump?

Anyhow, yes, Atlantic City casinos have not and are not doing well. The latest stats show that the month of May, 2010 was down 9% from the same timeframe a year prior. More specifically, Atlantic City’s eleven casinos hardly broke even, drawing in a combined $319.7 million in gambling revenue – $225.6 million of which was generated by slot machines and $94 million from casino table games. Slots revenue slipped by 8.5% and table games fell by over 10% in revenue.

If you are wondering whether any of Atlantic City’s casino’s have fared better than the rest of the lot, the answer is no. Statistics for May show that all eleven of AC’s casinos experienced revenue drops.

The only good news (from the perspective of OCS, at least) is that – for once – Atlantic City and brick ‘n mortar gaming interests cannot put the blame on online casinos for stealing revenue. While the lagging economy certainly has something to do with it, the majority of Atlantic City’s woes can be traced back to the expansion of brick ‘n mortar casino gambling in nearby Pennsylvania and would-be Atlantic City gamblers now commuting to Pennsylvania. Heck, I definitely can’t blame ’em – Many of AC’s aging casinos can’t hold a candle to Pennsylvania’s Foxwoods Casino and Mohegan Sun Resort. Donald trumps toupee, on the other hand, well let’s just chalk that up to another reason why Atlantic City is hurting.