Well, some good news for casinos at last.
At least relatively speaking.
The revenue figures for Atlantic City casinos are out and the results are promising, if not spectacular.
At least the downward trend may be halted and maybe that means the U.S. recession is nearing an end.
Or not. Hell, I’m no economist. [Not that they know anything.]
The resort and casino business was down just one percent for April, a sign that the free-falling casino industry in the city is starting to level off.
For the first four months of 2010, casinos won $1.17 billion, down 7.6 percent from the same period in 2009.
Well (another explanation) is Atlantic City took a 15.7 percent hit in February due to three major snowstorms.
Whatever. April’s decline was the smallest in 20 months.
“It’s really good to see that in April the market seemed to be stabilizing,” said Mark Giannantonio, president of the Tropicana Casino and Resort. “That’s been the case over the last several months. But the months to come are going to be the real challenge as a result of table games in Delaware and Pennsylvania.”
Most popular games? Blackjack (my favorite) and baccarat , which brought in $95.6 million, an increase of nearly three percent
Slots, though, brought in “only” $215.8 million, a decrease of 2.2 percent.
There is still a lot of work to be done by casinos, in terms of drawing people in. But at least this is a good sign for the business.
My mantra?: See you in Atlantic City.