Atlantic City Casinos Revenue Down Once Again in August
The growing trend around the United States is lower than expected numbers for august at many casinos. The problem has been more an issue in less populated places that are home to smaller casino but it seems the trend has spread to one of the major gambling cities in the country Atlantic City. This wasn’t even an isolated incident but rather a cross the board occurrence at 5 of the Atlantic City remaining casinos. The still made a strong month revenue with over $250 million from slot machines, tables and other amenities but it still resulted in a %5 decrease from previous year numbers.
The Labor Day weekend not actually falling at the end of August as it normally does seems to have played a significant role in the decline. Experts say that the weekend usually guarantees a major increase in revenue in all facets of the casino. The numbers for September should be significantly higher due the 3 day weekend that Labor Day provides and the sure amount of people who flock to casinos during the holiday weekend. The total amount loss compared to last year was about $25-30 million.
Atlantic City has slowly been decreasing the number of casinos that are open in the popular area. Four casinos closed just last year and with the slow numbers in August some experts fear their will be more closing if things become a routine. If you combine all of the remaining casinos revenue stream from August the entire city was down 15% and which follows nearly 8 months of positive gains for the lasting casinos. Hopefully this doesn’t turn into a lasting trend that warrants closings of any of the remaining Atlantic City casinos. Caesars and Trump Taj Mahal were recorded as the casinos who took the largest decline with both going through an over 24% decrease from last August. Meanwhile there were a few that continued their growing numbers showing some life for the area.