Atlantic City Casino Changes
By: Casino Advisor Team, Sunday June 1st 2008
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In the recent past the casinos were suffering from lack of players, but last month marked a 1.6 percent increase in their revenue. The figures were released early this week regarding the revenue. The research was performed by Casino Control Commission in which they showed numbers for May 2008 compared to those in May 2007. This is a 1.6 percent difference in the year.
This news is definitely welcome at the casinos as the last 17 months have been downhill in the revenue department. A lot of the casinos and hotels have been trying to keep consumers even with the slot casino opening in Pennsylvania and New York. Added to the other casino competition the gas prices for travel have been extremely high making a lot of consumers think twice about wasting money. It seems that the last week in May was the most popular week for gambling in Atlantic City. Some believe it was the holiday and the extra weekend. Rather than May ending in the middle of the week there was a Friday- Saturday combination.
A spokesman for the Borgata Hotel even agreed that the extra time in the month was their saving grace for the month. They are happy to see the positive outcome and hope the next months will reflect a change of pace. It seems that most casinos actually dropped about 1.5 percent in the last year, but the 9.5 percent increase at the table games has made that a minimum hit.
The casinos have also won 289.6 million USD in slot machines and about 125 million USD at the table games. This totals to 415.3 million USD for May.
The Trump Taj Mahal was the casino to make the most in May. They were up by 11.4 percent from last May and about 44.7 million USD total.
A lot of the CEO's of casinos in Atlantic City are pleasantly surprised by the increase and happy to see the revenue on the rise. They keep thinking it might slow down again, but perhaps not.
Even with the condition of the economy and the gas prices a lot of consumers have been heading to the Atlantic City gambling places. Part of that is thought to relate to the more expensive vacations related to flying. A lot of vacations out of the country are no longer in the budget, which means those needing a release will find it a little closer to home.
Harrah's was another large surprise for the US. They increased revenue by 9.8 percent which translates into 47.8 million USD, which is just a little more than the Taj Mahal, but not as much of an increase.
The Tropicana, Caesars, and even the Hilton have all seen an increase in the revenue in the last month. Only the experts can tell if this will continue or if the next few months will show a decrease again.
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