Atlantic City Casinos Get Favorable February Returns
Atlantic City celebrated as a ten-month streak of declining casino revenues was broken by a rise reported for February. After being buffeted by stiff new competition and the general economic malaise for much of the past year, the eleven casinos were thrilled to have sustained a 1.5% growth in revenue over the same month last year.
While income from slots was virtually even, table games revenue incresed almost 5%.
Trump Plaza Casino saw the largest spurt, increasing by 13.8%. The other two Trump properties also increased revenue, making this the first time in a year and a half that all three casinos grew.
Not all the casinos did well; Resorts Atlantic City declined almost 5%, and three other casinos dropped.
Analysts were quick to point out the storm is not over, and there may be a extended period of months ahead before sustainable growth returns. Many noted that, 2008 being a leap year, February was awarded an extra day this year, and that happened to fall on a Friday.
Still, in a city and industry eager for good news after months of bleakness, all straws will be grasped. Even if the extra day meant the improvement was illusory, illusion might be enough to calm the near-panic in the market of late.
