AC: Casino revenue figures for 2009 expected to show worst decline ever

5teamparlay · Jan 11, 2010

http://www.pressofatlanticcity.com/article_63c298ea-feae-11de-9338-001cc4c002e0.html
Casino revenue figures for 2009 expected to show worst decline ever
From Press staff reports | Posted: Monday, January 11, 2010

Photo by: Ben Fogletto

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ATLANTIC CITY - Year-end revenue figures will be released today for the gaming industry - and they're not expected to be pretty.
This much is already known: Recession-ravaged 2009 will go down as the worst year ever for Atlantic City's casino hotels. It will also be the third straight year revenue has declined.
Revenue generated by slot machines and table games plunged 13.5 percent through the first 11 months of the year. December's results are expected to be similarly dismal, ensuring a double-digit annual revenue decline for the first time in the city's 31-year history of legalized gambling.
The New Jersey Casino Control Commission is scheduled to release the final figures for December and all of 2009 at 2 p.m. Check back

jeckll · Jan 11, 2010

No surprise there...

Doug · Jan 11, 2010

Agree with jeckll. AC is a shithole. I could maybe see it in the summer months with a beach to use, forget the winter. CT casinos will draw most of NE, and even NYC clientele.

25-30 years ago, they had a market, either AC or fly to LV, now it's not enticing even for New Yorkers.

carlspackler · Jan 11, 2010

Impossible not to notice. I have been going about once a month for the last couple of years and you can clearly see the decline in the Poker rooms.

And yes A.C. is a shithole but it is our shithole.

5teamparlay · Jan 11, 2010

CT casinos will draw most of NE, and even NYC clientele.

2009 saw big expansion in gaming in PENNSYLVANIA as well, which hurt AC too.

bucsfan67 · Jan 11, 2010

not a shocker.....Vegas will be seeing the same kind of numbers i would imagine, but maybe not to the same degree...but the economy has to factor in to Vegas as well...they arent totally immune

Doug · Jan 11, 2010

Yep, AC once was new and had the entire East coast as a market. Now old and a much tinier area to draw from. Not much reason for the owners to upgrade the properties....

People don't really want to go a crime ridden shithole city, esp. in the winter. Those hotels must look like the El Cortez by now ? I haven't been there in almost 30 years, and I live in Ct.

Doug · Jan 11, 2010

bucsfan67 said:
not a shocker.....Vegas will be seeing the same kind of numbers i would imagine, but maybe not to the same degree...but the economy has to factor in to Vegas as well...they arent totally immune

True, but at least LV has LA to draw from.

Ct casinos are closer to Manhattan than AC, so they lost much of a huge market. Boston players sure won't go past CT to get to AC.

cadillacman · Jan 11, 2010

With competion the way it is, Sports betting is a must for AC to survive. Otherwise, the town might as well sink into the Atlantic.

KennyB · Jan 11, 2010

Gambling is legal practically everywhere now so it is no surprise. I actually like going to AC. Not sure why everyone thinks it is such a shithole. I have some great restaurants that I go to and I love going to the Baltimore Grill.

WharfRat+ · Jan 11, 2010

cadillac man said:
With competion the way it is, Sports betting is a must for AC to survive. Otherwise, the town might as well sink into the Atlantic.

I agree that they will lobby HARD for sports betting.

Pennsylvania just approved Table Games last week which will be another kick in the nuts to AC.

VIEJODINOSAUR · Jan 12, 2010

Lots of good post here...I grew up right across the bay from Atlantic City and have some great memories of the boardwalk and the summers...The one poster hit the nail on the head..."A.C. might be a shithole, but it is my shithole."

Willye · Jan 12, 2010

Love ac work down there for the summer and just stay in the casinos for free all comp beats paying for rent or a house, room service etc love it

Betallsports · Jan 12, 2010

I use to go to AC Every Weekend....for about 6 years
Then I stopped !

Things just weren't the same...Host would leave their job as fast as you can say AC.

I remember when the Casinos first opened, and they said they were going to fix up the area. ( well That never came )
Not that I was a type of person to walk to far from the Casino....lol

Anyway....Like I said about a Year ago, when I went to the Trop for a few days ( Met VD there )
The Place became a Dump ! and it just didn't have the Feel of what it use to be.
Had a lot of Good times in AC...But Don't miss it at all.

Like others have said....You have the CT casinos...which are Newer, Nicer, and the same Drive time for Me.

Plus I go to Vegas 4 times a year.... :103631605

AC: Casino revenue figures for 2009 expected to show worst decline ever

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