After over a year of terrifyingly rapid decline in income, Atlantic City casinos may be nearing a bottom, as September saw the rate of decline slow dramatically. Gambling income for last month was still down by 5.8 percent, but nothing like the 16 percent experienced in August."You look for the silver lining," said Harrah's executive Don Marrandino. "The game's not over yet, that's for sure."
Mark Juliano, CEO of Trump Entertainment, said he hoped the new results were the first signs of stabilizing the revenue tailspin.
"The real question is how long until we get back to the results we saw in past years, which is the question everyone in every business has," said Juliano.
The three Trump casino resorts in Atlantic City fared worse than the average of the town's gambling resorts, with each reporting continued double-digit percentage drops in September.
The Borgata Casino, which has remained perhaps the healthiest of the New Jersey gaming spots, actually saw a 6 percent increase. Troubled Resorts Atlantic City, facing a shutdown, surprisingly had the second-best month with a gain of just under 4 percent.
Published on October 10, 2009 by JoshuaMcCarthy
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