Atlantic City casino revenues down
15th February, 2008
Atlantic City, traditionally regarded a mecca for casino gambling enthusiasts, witnessed another dramatic fall in revenues last month.
January sales figures for Atlantic's eleven casinos reflected a record fall in activity of ten per cent, coming on the heels of a more moderate slump in 2007 - the first time in three decades that the city's annual casino takings fell.
Increased competition from rival gambling outfits in Pennsylvania and New York has taken a toll on New Jersey's iconic city - a downturn which has only being exacerbated by the sluggish US economy.
"Winter-time for the day-tripper is significantly more difficult for us when they have a choice in Pennsylvania or New York," Carlos Tolosa of Harrah's Entertainment told Fox Business. "They want to stay closer to home."
The proliferation of neighbourhood slot machine parlours is also partly to blame, with the two of the largest casinos in 'America's Playground' - the Trump Marina and the Tropicana - both reporting falls of more than 20 per cent.
Analysts say many operators are now likely to focus on the high-rolling foreign market rather than seeking to restore withering domestic demand.
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