Monday, December 10, 2007

A.C. Casino Revenues Down Again

Profits are down again for the 11 casinos in Atlantic City.

Casinos reported 374.7 million in casino win in Nov., a 7.7 percent decrease over the same month a year ago, according the The Press of Atlantic City.

Slot revenue decreased by 12.2 percent while table revenue increased by 4.4 percent. For people who don't think the slot parlors in Eastern PA., and Southern N.Y., are taking away from the A.C. casinos, the proof is right there.

Slots are casinos bread and butter. Casinos don't need many people to handle slot machines. Mindless drones put money into a machine and push away at a button. You don't even know how to win, you just need a steady trigger finger.

There are a number of reasons revenue is down, including the smoking ban, but I feel this is the biggest correlation as to why the casinos are losing money.

For the first 11 months of the year, casinos won $4.5 billion, which is down 5.3 percent from last year in the same period.

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