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AC Casinos Continue Losing Streak

ATLANTIC CITY-Casinos in this gambling haven continued to lose at the tables and slots in July.

By Maria Wood | Updated on August 11, 2009

ATLANTIC CITY-The city’s casinos once again saw their revenues tumble in July. As reported by the New Jersey Casino Control Commission, gambling establishments racked up a win total of $383 million last month, a drop of 12.7% from the same month a year ago. A win equates to revenue, or the net amount of money won by the casinos. It does not connote profit.

For the first seven months of ’09, casinos won $2.3 billion, down 14.9% from the same period in 2008. Splitting that total between slot machines and table games, the 11 casinos in the city won $1.6 billion at the slots and $715.2 million at the tables, which translate to declines of 15.3% and 14%, respectively, between January and July of 2008 and 2009. On a monthly basis, the casinos pulled in $266.8 million at the slots in July, a decrease of 12.4% from July 2008. Meanwhile, the tables brought in $116.2 million, a decline of 13.4%.

Only one casino–the Trump Taj Mahal–scored an increase in revenue in July when compared to the same month in 2008. Its total win at both the slot and tables amounted to $44 million, a jump of 8.7% over July 2008′s sum of $40.6 million. On a year-to-date basis, the casino won $266 million, a 2.5% drop versus the same period in 2008. Yet that decline was the lowest of all the casinos.

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