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Published on Sunday, Jul 13, 2008
Associated Press
ATLANTIC CITY, N.J.: A nasty June swoon at the resort's 11 casinos could be evidence that Atlantic City is heading for a second straight down year.
The gambling halls took in $373.6 million in June, an 11 percent decrease over the same month a year ago.
Only one of the 11 casinos saw revenue increase last month, and of the losers, eight posted double-digit declines.
Slot revenue was down 12.2 percent to $266.2 million, and revenue from table games was down 8 percent to $107.4 million.
Experts say the decline may be too steep to be offset by July and August — traditionally the busiest months in Atlantic City.
Carlos Tolosa, Eastern Division president of Harrah's Entertainment Inc., which owns four casinos here, said 2008 already appears lost. ''The trends are just too ugly,'' he said.
Get the full article here.
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