May 2008 was only the fourth-best May in Atlantic City’s 30-year history of casino gambling, but it was good enough to qualify as cause for celebration. The New Jersey Casino Control Commission has the full breakout, from which a few highlights may be extrapolated.

Table games were once again the Boardwalk’s savior, propelling a 1.6% year/year revenue increase. Let’s hope Pennsylvania solons don’t get it into their heads to add craps, 21 and baccarat to their ‘slot parlors.’

Slot winnings were a mixed bag, with the notable exception of Caesars Atlantic City, which either got its clock cleaned or has driven slot players away, down -10.4%. Still, even with slot win down -1.5% overall, more casinos were in the “plus” column than the “minus” one, 6-5.

Positive slot results at Tropicana and, particularly, Resorts Atlantic City was negated by unlucky table play, down -8% and 16%, respectively. While Trump Marina remains the market laggard, it had a bonny May at the tables, +22.7%, overshadowed only by Trump Taj Mahal (+31%) and Harrah’s Marina (+37.5%). Both the Atlantic City Hilton and Borgata posted double-digit gains, too.

Although six casinos posted decreased wins, exceptional months at the Taj (+11.4%) and Harrah’s (+9.8%), plus a good month at Borgata (+4.9%) were enough to drag the Boardwalk into the “plus” column overall. As far as sheer volume of win was concerned, tops was Borgata (who else?), at $64 million, trailed by Bally’s Atlantic City ($53 million). Harrah’s, Caesars and the Taj were bunched together to form a kind of “second tier.” At $35 million and $33.7 million, respectively, the Showboat and Tropicana formed the third echelon. Bringing up the rear were the Hilton, Trump Plaza, Resorts and the Margaritaville-to-be, Trump Marina.

The Press of Atlantic City has the "why" of the good numbers. It's amazing what a little sunny weather will accomplish.

Colony Capital, Resorts’ owner has finally confirmed that it did put in a formal bid for the Tropicana. That’s a relief, as a rerun of Colony’s ‘phantom’ bid for Aztar Corp. (announced, never submitted), would have given Colony a reputation for a weak trigger finger.

But if Trop trustee Justice Gary Stein wants to draw the sale process out any further, he’d better be darn sure he’s going to get bids comfortably above the $850 million-$950 million range currently on the table. Colony, Cordish Cos. and those publicity-averse New York bidders – all of whom appear to have bargained in good faith – have reason to feel skeeved at the moment.