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Friday
Jun 18th

April revenue at Atlantic City casinos down 0.7 percent when compared to same month in 2009

Atlantic City's 11 casinos reported $311.5 million in winnings in April, a decrease of 0.7 percent over the same month a year ago.

Results reported to the state Casino Control Commission Monday show that the casinos won $215.8 million at the slot machines and another $95.6 million at table games last month. Slot revenue fell 2.2 percent while table game revenues increased by 2.9 percent.

After adjustments and a deduction for promotional gaming credits, casinos paid the state $23.2 million in taxable gross revenue of $290.3 million in April. The money, 8 percent of taxable gross revenue, goes into the Casino Revenue Fund, which pays for state programs that benefit senior citizens and people with disabilities.

In addition, the casinos incurred another $3.9 million in reinvestment obligations. They are required to reinvest 1.25 percent of gross revenues in projects approved by the state Casino Reinvestment Development Authority.

For the first four months of the year, casinos won $1.17 billion, down 7.6 percent from the same period in 2009. Revenue from slot machines was down 8.1 percent and revenue from table games was down 6.5 percent for the four months. Taxable gross revenue fell 8.9 percent to $1.15 billion.

Win, or casino revenue, is the amount of money won by casinos. It is not profit.

Detailed data on revenues from each individual casino can be found at the commission's Web site.

-- TOM HESTER SR., NEWJERSEYNEWSROOM.COM

 

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