newjerseynewsroom.com

Win rose 4.2 percent last month but was down 6.9 percent for the year

BY TOM HESTER SR.

NEWJERSEYNEWSROOM.COM

Based upon filings made public Tuesday by the state Division of Gaming Enforcement, total Atlantic City casino win rose 4.2 percent in December to $246.5 million, the highest monthly percentage increase since 2006.

Slot machine win rose 8.3 percent, to $174.1 million, but table game win decreased by 4.3 percent, to $72.5 million.

The December figures helped brighten an otherwise down year for the casinos. For the year, casinos won $3.3 billion which is down 6.9 percent from 2010. Win from slot machines was down 5.4 percent and win from table games was down 10.4 percent from the prior year.

"The positive win results are an encouraging sign of economic recovery for Atlantic City casinos," Acting Gaming Enforcement Director David Rebuck said. "This is an exciting time for Atlantic City as we see more visitors enjoying the casinos and the wide-array of attractions."

Rebuck added, "This has been the highest monthly percentage increase since December 2006. With the regulatory reforms in place and the upcoming opening of the Revel Casino, we are hopeful that this positive trend will continue and reinvigorate the excitement that is part of Atlantic City and its casino venues."

Casinos paid $17 million in state taxes on their gross revenues in December. That money, 8 percent of taxable gross revenue, goes into the state Casino Revenue Fund, which pays for programs that benefit qualifying senior citizens and people with disabilities.

In addition, the casinos incurred $3.1 million in reinvestment obligations based on their gross revenues for the month. Casinos are required to reinvest 1.25 percent of gross revenues in projects approved by the state Casino Reinvestment Development Authority.

Win reflects the net amount of money won by casinos. It is not profit.

Detailed data on revenues from each casino can be found at:

http://www.nj.gov/oag/ge/mgrtaxreturns.html.