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.