Atlantic City woes persist

Atlantic City casino revenues fell 6.5 percent in July, extending a nearly three-year-long losing streak, reports the publication NJ.com.
Figures released Wednesday show the 11 land casinos took in $340.3 million last (July) month. Slot machine revenue fell 3 percent, to $245.4 million.
Table game revenue decreased by 14.5 percent, to $94.9 million.
Revenues have been down for 35 consecutive months as the casinos in the nation’s second-largest gambling market battle an uncertain economy and increased competition from surrounding states.
Today’s results may dampen the cautious optimism industry officials had expressed after last month’s report, NJ.com notes. In June, revenue was $276 million, down by 3.7 percent from the previous year. If not for one gambler who won $8 million, it would have been much closer to matching the June 2010 total.

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