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Casinos suffer another shortfall as revenue drops 12.6 percent

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The Revel casino in Atlantic City.
The Revel casino in Atlantic City. - (Aaron Houston / NJBIZ)

Gaming revenue fell across the board at Atlantic City's 12 casinos last month, regulators said in a report today, as the industry continued its losing streak.

Casino winnings for the month fell 12.6 percent to $240.2 million from June 2012, the Division of Gaming Enforcement said in its monthly report. That includes $61.1 million in table game winnings, which fell 16 percent, and $179.1 million in slot winnings, down 11.2 percent from the same month last year.

Regulators blamed the shortfall in part on the impact of having one fewer Friday in June this year than in 2012.

Some casinos have emerged as bright spots in recent months by sporadically recording year-over-year revenue upticks, but that was not the case in June. The DGE reported all 12 properties had losses, led by declines of more than 20 percent by both Trump Plaza and Revel, which held its grand opening May 25, 2012.

The decline also again left Revel, the $2.4 billion megaresort, near the bottom of the pack. Since emerging from bankruptcy court, the casino has done an about-face on its resort-first marketing strategy, and has launched a message of "gamblers wanted."

While gaming revenue has fallen monthly, almost without interruption, casino operators and state officials have sought in recent years to strengthen Atlantic City's nongaming amenities. The most high-profile offering to date appeared in late May, when Resorts opened its $35 million Margaritaville restaurant and entertainment complex.

Reporter Joshua Burd is @JoshBurdNJ on Twitter.

Joshua Burd

Joshua Burd

Josh Burd covers real estate, economic development and sports and entertainment. Before joining NJBIZ in 2011, he spent four years as a metro reporter in Central Jersey. His email is joshb@njbiz.com and he is @JoshBurdNJ on Twitter.

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