Casino win springs to March record - Tuesday 12th of April 2005

Borgata, Tropicana and Resorts were the standouts in a record-breaking March for the casino industry.

Overall, citywide gaming revenue rose 1.9 percent to $396.3 million despite the traditionally slow Easter weekend, which fell in March this year.

Slot winnings inched up 1.8 percent to $292.4 million and table-game revenue increased 2.1 percent to $103.9 million compared to March 2004, according to figures released Monday by the state Casino Control Commission.

For the first three months of the year, the city's 12 casinos have collectively won $1.15 billion, an increase of 0.6 percent over the same period in 2004.

Gross gambling revenue is the money that casinos keep after all winning wagers have been paid. It is not profit, which is determined after casinos pay their marketing and operational costs, debt, taxes and other expenses.

Borgata Hotel Casino & Spa continued to dominate the competition in March, raking in double-digit gains in slot winnings and revenue from its table games. Borgata's total revenue jumped 13.8 percent to an industry-leading $54.5 million.

Tropicana Casino and Resort was the only other gaming hall that posted double-digit increases in slot and table-game revenue. Tropicana's total revenue surged 13.6 percent to $34.3 million due to extra business generated by its newly opened Cuban-themed hotel, retail and entertainment complex, called The Quarter.

Resorts Atlantic City continued to benefit from its recently opened 400-room hotel tower, ending the month with $22.6 million in revenue, up 11.4 percent. Resorts had a double-digit increase in slot winnings, while table-game revenue rose 7.2 percent.

Harrah's Atlantic City and Sands Casino Hotel were the only other properties to have a winning month. The Sands, the city's smallest casino, was helped by a nearly 19 percent increase in table-game revenue. Harrah's was up 6.6 percent at the tables games and 1.8 percent in slot revenue.

Showboat Casino Hotel, Harrah's sister property, essentially was flat for the month. Tough luck at the gaming tables was the principal reason that Showboat's revenue was down about 1 percent overall.

Trump Hotels & Casino Resorts Inc. and Caesars Entertainment Inc., two of the city's big-name operators, slumped in March. All six of their casinos posted revenue declines for the month.
 

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