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Atlantic City casino revenue down 6.6 percent in July

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It's been a summer of bad news for Atlantic City, and the latest monthly casino revenue reports did little to ease the pain.

Gaming revenue at the city’s 11 casinos fell to about $264 million in July, down 6.6 percent from the same month last year, according to the latest report from the Division of Gaming Enforcement. That doesn’t include winnings from the Atlantic Club, which closed in January, amplifying a decline that has gone virtually uninterrupted since 2006.
 
The report issued Wednesday notes that four casinos saw increases for July. Topping the list was Golden Nuggest, which recorded a 40 percent uptick to $18.2 million, but struggling, soon-to-close properties such as Revel Casino Hotel and Trump Plaza saw winnings fall by 36 and 34 percent, respectively.
 
For the six properties that offer Internet gaming, revenue from that source was relatively flat at $10 million.
 
The report was not unexpected but still badly timed for the city’s ailing casino industry. Earlier this week, Revel’s ownership group said it will close Sept. 10 after failing to find a qualified buyer for the property, now in its second round of bankruptcy.
 
Trump Plaza and Showboat are facing similar fates and are slated to shut down by the end of the summer, meaning four of Atlantic City’s casinos will have closed this year.

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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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