AC casino revenues down 13.2 percent in January

Published on NewsOK Modified: February 11, 2013 at 4:22 pm •  Published: February 11, 2013
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ATLANTIC CITY, N.J. (AP) — Atlantic City's casinos began the new year the way they've spent most of the past six years: taking in less and less money from gamblers.

Revenue at the city's 12 casinos fell by 13.2 percent in January, compared with a year ago. And Revel, the city's newest casino that had been viewed as a potential catalyst for an Atlantic City comeback, had its second-worst month ever.

It was an inauspicious start to what could be a seventh straight year of falling casino revenues in a market that used to be the nation's second-largest but has since lost that title to Pennsylvania.

Revel, which opened last April, took in just less than $8 million, which was the second-lowest total in its history. Only November's $6.2 million total, during a month affected by Superstorm Sandy closures, was worse.

"We have just begun reintroducing Revel to the gaming customer," Revel CEO Kevin DeSanctis said. "We continue to improve our overall amenities, including a new noodle bar, slot players' lounge, new restaurants and day club."

He said the casino will soon announce new programs for The Social, an open gathering area just off the casino floor that's used for entertainment, meetings and other functions.

In January, Atlantic City's casinos won $205.6 million from gamblers. Table games revenue fell by $5.1 million, to $67.1 million. Slot machine revenue fell by $26.2 million, to $138.5 million.

The slots numbers were affected by an $8.1 million decrease in promotional gambling credits that were wagered, which are a component of slot machine revenue totals.

Atlantic City's casino revenue has fallen from a high of $5.2 billion in 2006 to just over $3 billion last year.



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