Atlantic City Casino Gambling Fell 12% in October

Atlantic City’s casino gambling revenue fell 12 percent in October, after Pennsylvania and West Virginia added table games and new casinos opened in Philadelphia and Maryland.

Gambling proceeds declined to $284 million, the New Jersey Casino Control Commission said today on its website. Slot machine revenue at the 11 casinos slid 10 percent from a year earlier to $199.4 million. Table proceeds were down 17 percent to $84.6 million.

The results extend three years of declines for the New Jersey seaside resort, the second-biggest U.S. casino city after Las Vegas. Philadelphia’s first casino, SugarHouse, opened Sept. 23, attracting gamblers who live in a key Atlantic City market. Penn National Gaming Inc. opened Maryland’s first slots casino in Perryville Sept. 27.

Atlantic City has been hurt by the economy and growing competition from surrounding states such as Pennsylvania, New York, Delaware and Maryland. Six of the casinos went through bankruptcy or restructured debt in the past year, and development has stalled.

The casinos’ gambling revenue was $3.1 billion in this year’s first 10 months, 9.1 percent less than a year earlier.

To contact the reporter on this story: Beth Jinks in New York at bjinks1@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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