{"id":15012,"date":"2014-11-13T13:59:50","date_gmt":"2014-11-13T21:59:50","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=15012"},"modified":"2020-02-26T06:56:31","modified_gmt":"2020-02-26T14:56:31","slug":"hope-on-the-boardwalk","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/hope-on-the-boardwalk\/","title":{"rendered":"Hope on the Boardwalk"},"content":{"rendered":"<p>Down four casinos and counting, <strong>Atlantic City<\/strong> suffered a 9% dip last month but a 14% gain on a same-store basis. A 13% fall in slot win and a 12% decline in coin-in seems to <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/Borgata.jpg\"><img loading=\"lazy\" class=\"alignleft size-medium wp-image-4315\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/Borgata-300x200.jpg\" alt=\"Borgata\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/Borgata-300x200.jpg 300w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/Borgata-150x100.jpg 150w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2010\/08\/Borgata.jpg 553w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>have driven the slippage: In spite of 19% less table play, luck was with the casinos and they came out 5% ahead. Online play continued to slide (7% off from last year), as <strong>PokerStars<\/strong> remains on the sidelines. This development (or lack of one) has inspired much innuendo but little hard knowledge.<\/p>\n<p><strong>Borgata<\/strong> ($52 million) exceeded expectations, posting a 9% revenue increase. It had no trouble scaring up play (+8%) and win rose 15%. Heavier coin-in at the slots (+5%) drove\u00a0<!--more-->an 8% increase in slot revenue. The only property to lose business was <strong>Trump Taj Mahal<\/strong>, down 17% for the month. (And to think it used to be one of the top performers in the city.)<\/p>\n<p>The casino closures had their desired effect of propelling\u00a0new business to the remaining ones. <strong>Bally&#8217;s<\/strong> ($17.5 million) only picked up 1% while <strong>Tropicana Atlantic City<\/strong> ($22 million) and the <strong>Golden Nugget<\/strong> both surged 57% (at $15 million last month, one no longer need make allowances for the Nugget&#8217;s revenue base). Somewhere in between were <strong>Caesars Atlantic City<\/strong> ($30 million, +13%), <strong>Harrah&#8217;s Resort<\/strong> ($32 million, +17%) and <strong>Resorts Atlantic City<\/strong> ($12 million, +15%). Congratulations to everyone who improved their business in October and, as for <strong>Trump Entertainment Resorts<\/strong>, they really know how to screw things up, don&#8217;t they?<\/p>\n<p>* In the continuing <strong>Caesars Entertainment<\/strong>-bankruptcy saga, the company <a href=\"http:\/\/www.reviewjournal.com\/business\/casinos-gaming\/caesars-trim-nationwide-workforce-less-1-percent\" target=\"_blank\" rel=\"noopener noreferrer\">has moved to temper fears<\/a> of heavy job cuts. While 600 or so unfortunate Caesars employees will still get the boot, cash flow will be manufactured from &#8220;a variety of initiatives in operations, marketing and corporate expenses,\u201d according to a corporate spokesman.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Down four casinos and counting, Atlantic City suffered a 9% dip last month but a 14% gain on a same-store basis. A 13% fall in slot win and a 12% decline in coin-in seems to have driven the slippage: In &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/hope-on-the-boardwalk\/\">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":[23,60,28,7,37,11,167,178,9,129,21,169],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15012"}],"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=15012"}],"version-history":[{"count":5,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15012\/revisions"}],"predecessor-version":[{"id":26199,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/15012\/revisions\/26199"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=15012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=15012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=15012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}