Gaming Revenue In Atlantic City Drops Again
By Phil Gregory, WBGO News
July 10, 2012
Gaming revenue in Atlantic City is down again, and the newest casino is not doing much to change that,
The total casino take in June was down six-tenths of a percent from a year ago.
For the third month in a row, Revel ranks eighth in gaming revenue among Atlantic City’s 12 casinos. It won $14.9 million from gamblers last month, a million more than May, but far below the $53 million won by the top ranked Borgata.
Isreal Posner is executive director of the Institute of Gaming, Hospitality and Tourism at Richard Stockton College. He says Revel is not just a casino but is trying to be a total resort.
“To attract the leisure traveler it’s going to take a bit of time before that ramps up and shows a return. At this point it’s still too early to tell how that’s going to work out.”
Assemblyman John Burzichelli is still hopeful about Revel’s future.
“The number tells you they’re alive and well. It’s just a question of how much alive they have to be to satisfy their obligations. I think the summer season in Atlantic City is going pretty well, and as Revel continues to introduce itself to its clientele I think those numbers are just going to continue to move upwards.”
Burzichelli says the $241 million in tax credits the state gave Revel to get the resort completed was a good investment. He says the place has created jobs and helped stimulate the local economy.
© 2012 WBGO News
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