{"id":14554,"date":"2014-09-12T12:45:17","date_gmt":"2014-09-12T20:45:17","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=14554"},"modified":"2014-09-12T12:45:17","modified_gmt":"2014-09-12T20:45:17","slug":"when-a-loss-is-a-gain","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/when-a-loss-is-a-gain\/","title":{"rendered":"When a loss is a gain"},"content":{"rendered":"<p>Come this time next month, we could easily be reporting year\/year gains in <strong>Atlantic City<\/strong>. Last month, as <strong>Revel<\/strong> and <strong>Showboat<\/strong> were winding down <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/atlantic-city.jpg\"><img loading=\"lazy\" class=\"alignleft size-medium wp-image-4314\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/atlantic-city-300x224.jpg\" alt=\"atlantic-city\" width=\"300\" height=\"224\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/atlantic-city-300x224.jpg 300w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/atlantic-city-150x112.jpg 150w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/atlantic-city.jpg 550w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>operations, the Boardwalk was only 1% off last year&#8217;s pace. <strong>Internet<\/strong> gambling played a role in that, obviously (to the tune of $10.5 million), but fortune favored the casinos, too, their\u00a0table revenues up 12% in spite of a 10% drop in play. At the slots, coin-in (-6%) roughly matched a revenue decline. Tighter hold helped <strong>Borgata<\/strong> report 5% more in slot play. Table play rose 5%, as did the house&#8217;s winnings, for an overall gross of $66 million.<\/p>\n<p>With players fleeing Revel ($12 million, -41%), Showboat ($15 million, -24.5%) and <!--more--><strong>Trump Plaza<\/strong> ($5 million, -45%) there were some big winners to go with the losers. <strong>Tropicana Atlantic City<\/strong> ($31 million, +46%) and <strong>Golden Nugget<\/strong> ($17 million, 34%) peeled off a lot of business, while <strong>Caesars Atlantic City<\/strong> ($44 million, +16%) and <strong>Harrah&#8217;s Resort<\/strong> ($39 million, +18%) benefited from Showboat&#8217;s travails. <strong>Bally&#8217;s Atlantic City<\/strong> had a harder time moving the needle, down 1%, to $26 million.<\/p>\n<p>Others seeing little or no benefit from the compacting market were <strong>Trump Taj Mahal<\/strong> ($25 million, -6%) and <strong>Resorts Atlantic City<\/strong> ($15 million, +2%).<\/p>\n<p>* Recommended reading for the weekend: An excellent, in-depth feature in <em>Aljazeera America<\/em> on <a href=\"http:\/\/america.aljazeera.com\/articles\/2014\/9\/11\/seeking-economicrenewalnewburghnygamblesonacasino.html\" target=\"_blank\">what casinos might bring to economically hard-hit<\/a> <strong>Newburgh<\/strong>, <strong>New York<\/strong>. Its chances look good: <strong>Saratoga Raceway &amp; Casino<\/strong> co-owner <strong>James Featherstonhaugh<\/strong> is financially backing the <strong>Hudson Valley Casino<\/strong> proposal and is a crony of Gov. <strong>Andrew Cuomo<\/strong>. The money quote comes from Newburgh Mayor <strong>Judy Kennedy<\/strong>: \u201cNewburgh has been a city that has been suffering from collective PTSD since urban renewal, when they tore down 2,000 buildings here in the late \u201960s and early \u201970s.\u201d Nothing went up in their place.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Come this time next month, we could easily be reporting year\/year gains in Atlantic City. Last month, as Revel and Showboat were winding down operations, the Boardwalk was only 1% off last year&#8217;s pace. Internet gambling played a role in &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/when-a-loss-is-a-gain\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,82,28,14,7,37,167,101,157,129,169],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14554"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=14554"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14554\/revisions"}],"predecessor-version":[{"id":14555,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/14554\/revisions\/14555"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=14554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=14554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=14554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}