June 2007 continued the downward trend for the year for Atlantic City casinos. A 1.9 percent decline was composed of a decline in slots revenue, while table game revenue increased. Pennsylvania slot parlors do not have table games.
For the first half of the year revenues for the gaming resort are down 4.4 percent. Analysts expect this to be the first year since Atlantic City’s opening to show a decline in gaming revenue.
Besides the additional capacity with the Pennsylvania slots, the smoking restriction on 75 percent of Atlantic City casinos appears to have contributed to the decline. Pennsylvania slots and the Connetticut and New York casinos do not have any restrictions.
Some of the casinos have shown an increase. Caesars led the rise with a 22 percent increase due partially to the drawing power of its new Pier shops.
Two of Donald Trump’s properties The Marina and the Taj Mahal showed increased revenue. Harrah’s, with it’s new Pool complex, showed a modest 4percent increase.
Borgata led the industry with over 60 million dollars in winnings.
Atlantic City’s long term prospects appear to be good with the current declines temporary. The Sands Casino closed in the last year which decreased total capacity in the town to some degree.
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