Monday, November 10, 2008

A.C. Casinos still taking punches

I was playing poker all week and the only place it seemed deader than normal was the Showboat. Caesars was going off because of the bad beat and Harrah's was just busy. However, I guess that doesn't always translate onto the floor.

I could only tell how the poker rooms do.


ATLANTIC CITY - Casinos reported $346.3 million in casino win in October, a 9.9 percent decrease over the same month a year ago.

Results reported to the New Jersey Casino Control Commission Monday show that the 11 casinos won $235.9 million at the slot machines and another $110.3 million at table games in October. Slot revenue fell 12.7 percent while table game revenues declined by 3.3 percent.

Casinos paid $27.7 million in taxes on their gross revenues in October. That money, 8 percent of gross revenue, goes into the Casino Revenue Fund which pays for programs that benefit qualifying senior citizens and people with disabilities. In addition, the casinos incurred another $4.4 million in reinvestment obligations. They are required to reinvest 1.25 percent of gross revenues in projects approved by the Casino Reinvestment Development Authority.

For the first 10 months of the year, casinos won $3.9 billion, down 6.6 percent from the same period in 2007. Revenue from slot machines is down 8.6 percent and revenue from table games is down 2 percent for the 10 months.

Win, or casino revenue, is the net amount of money won by casinos. It is not profit.
Copies of individual casino tax returns with detailed information on gaming revenues are available on the Commission web site at www.njccc.gov/casinos/financia/mthrev/

1 comment:

FREDDIE BICKNESE said...

The Trop recently closed the room that they had used for no limit for over 5 years -- it is now slots!! That casino has gone down hill too.

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