Atlantic City 11 casinos down 11.6% in September

Revenue at Atlantic City 11 casinos down 11.6% in September compared to '09
Wednesday, 13 October 2010

It's darker than a losing gambler's mood at most of Atlantic City's 11 casinos.
The state Casino Control Commission announced Wednesday that the casinos reported $296.3 million in win for September, a decrease of 11.6 percent over the same month a year ago.

The casinos won $209 million at the slot machines and another $87.4 million at table games. Slot revenue fell 9.9 percent while table game revenues decreased by 15.6 percent, an indication that attendance by serious gamblers has declined.

After adjustments and a deduction for promotional gaming credits, casinos paid $20.8 million of $259.6 million in taxes to the state. The money goes into the state Casino Revenue Fund, which pays for programs that benefit senior citizens and people with disabilities. In addition, the casinos incurred another $3.7 million in reinvestment obligations. They are required to reinvest 1.25 percent of gross revenues in projects approved by the Casino Reinvestment Development Authority.

For the first nine months of the year, casinos won $2.8 billion, down 8.7 percent from the same period in 2009. Revenue from slot machines was down 8.5 percent and revenue from table games was down 9.3 percent. Their tax payments to the state fell 10.8 percent to $2.6 billion.
Win, or casino revenue, is the net amount of money won by casinos. It is not profit.

Copies of individual casino tax returns with detailed information on gaming
revenues are available on the commission website.