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Online Casino Conditions >>> Betting News >>> August News


Atlantic City Casino Closing Affects Closed Casinos Unevenly
Online Casino Conditions Staff
August 16, 2006

Just when things were looking very promising for land-based casino operators in Atlantic City, New Jersey single-handedly kept the thriving gambling empire from hitting record profits this year when a state-imposed closing of all casinos in Atlantic City was enforced. For seventy-two hours there was no gambling activity in New Jersey, resulting in a non-uniform loss in profit from casino to casino.

The loss was anything but insurmountable, but rather, was more like a damper on keeping the casinos from hitting record profits for the month of July 2006. Taking in just over $480.5 million for July '06, financial analysts say that if the three-day closing was not enforced, Atlantic City would have beat last year's record month of July '05, which brought in just over $532 million.  At a difference of $51.5 million, the closing revealed an average daily loss of $17.16 million.

The Tropicana Casino lost the most - $5 million - while the Trump Plaza incurred the largest difference in loss compared to the month of July '05 - down 12%. According to CEO of Trump Entertainment Resorts, Mark Juliano, the loss in casino revenue at all three Trump properties was more than expected. Surprisingly, the Borgata Casino experienced a 9.7% increase in revenue compared to July '05, which reflects a successful campaign for 2006.

Also experiencing an increase in gambling revenue were nearby casino resorts like Foxwoods in Connecticut.  Casino management here reported an increase in 33% more patrons, most of which arrived by buses from nearby New York City.  Gambling destinations in Deleware also reported a similar increase in traffic from New York.

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