Gaming Industry Hopeful For Atlantic City Recovery

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While revenue at Atlantic City casinos continue to drop, the month of March has the gaming industry feeling hopeful.

“I feel pretty darn good,” Don Marrandino, president of the Bally’s, Caesars, Harrah’s Resort and Showboat casinos owned by Harrah’s Entertainment Inc., said. “I think we’re turning the corner here.”

The City’s 11 casinos posted a combined total revenue of $300.8 million down 5.6% compared with $318.4 million in the same period last year, according to the New Jersey Casino Control Commission.

Slot winnings declined 5% to $207.3 million, while revenue at the tables fell 6.8% to $93.5 million.

Harrah’s Resort was the only casino to post an increase for the month, while revenue at Bally’s, Caesars and the Showboat continued to decline falling below the industry average.

Harrah’s flagship casino Harrah’s Resort was up 4.9% to $38.9 million while Bally’s Atlantic City was down 3.1%, Caesars Atlantic City down 3.2% and The Showboat Casino Hotel was down 4.2%.

Revenue at Tropicana Casino and Resort dipped only 0.9% for the month, Borgata Hotel Casino & Spa, the top-grossing property dropped 1.6%.

The Trump Taj Mahal suffering a 21.6 % decline, Resorts Atlantic City down 13.9% and the Atlantic City Hilton Casino Resort down 11.2% were the only other properties hit with double-digit declines.

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