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“Do you think people from northern New Jersey are going to drive all the way to Atlantic City when they want to play the slots for a few hours?” Gural said in a July 25 telephone interview. “Gas is $4 a gallon. You tell me.”
I'm trying to figure out why the emphasis has to be on gambling. I thought A.C. Was trying to reinvent itself as a tourist destination which happens to have gambling. Why won't the media talk about the other revenues coming in as far food and entertainment. I'm just curious to know how the non gambling revenue is doing.
i primarily go a few weekends in the summer. thats the busy time, so i always see it busy. but i dont see much hope of major improvements anytime soon. they need to find away to get rid of the local element and clean up the boardwalk. they need to bulldoze the land between the borgata and the boardwalk hotels and put up a big wall to keep non-tourists out.
I don't think the numbers lie. By all accounts AC's getting its clock cleaned by neighboring states.
And Trump was pretty good at NOT making money owning a casino.
ATLANTIC CITY — Casino gross operating profits climbed 17 percent industrywide in the first quarter, with increases in nongambling revenue and higher hotel occupancy.
Combined, the city’s 11 casino hotels posted gross operating profits of $114.4 million, compared with $98 million in the same quarter last year, the New Jersey Division of Gaming Enforcement reported Thursday.
The industry was up overall, but a few standouts really were the reason for the increase. Bally’s Atlantic City saw its operating profit nearly triple to $21.7 million, while earnings at Borgata Hotel Casino & Spa jumped 21 percent to an industry-leading $39.9 million. Showboat Casino Hotel also turned in a strong performance, up 19 percent to $11.9 million.
Atlantic Club Casino Hotel, Golden Nugget Atlantic City, Resorts Casino Hotel, Tropicana Casino and Resort, and Trump Plaza lost money during the first quarter. Atlantic Club lost $5.9 million, but that was an improvement compared with its $7.3 million loss in the first quarter of 2011. Resorts also was able to narrow its loss, from $5.3 million last year to $3.4 million this quarter.
As a whole they are making money. I dont think those results are bad, considering the high unemployment, bad economy, and the fact that this quarter was in the middle of the winter.
Gambling revenue continues to be a problem and AC continue to lose ground to neighboring states.
Atlantic City’s casino gambling revenues dropped 10 percent in May compared with the same month last year, continuing a downward trend even with Revel in its second month of operation, according to figures the state Division of Gaming Enforcement reported Monday.
The 12 casinos pulled in $263 million in slot machine and table game winnings in May, an overall increase of about $2 million from the prior month but a 10 percent decrease when compared with May last year. Slot revenue last month fell more than 9 percent to $187 million, while table games were down 10 percent to $76 million.
“I’m not happy with the results,” Tropicana Chief Executive Officer Tony Rodio said of the report on the industry.
Gambling revenue continues to be a problem and AC continue to lose ground to neighboring states.
Obviously there is too much competition these days from other states and casinos. Atlantic City has to diversify its attractions and reasons for coming otherwise there is no where else to go but down. Now, i am not saying that Atlantic City can not continue to advertise the gambling as the top attraction/activity. However, it needs more to set itself apart from other gambling destinations in the Northeast. I am not suggesting any specific because I do not know what the answer is. All I am saying is that Atlantic City needs to offer a lot more than what it just has now.
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