Category Archives: TopSlots

Atlantic City Casino Revenue Shows Signs of Stabilizing, Online Gambling Thriving

28 Feb , 2020,
Beth Weissman
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Atlantic City Casino Revenue Shows Signs of Stabilizing, Online Gambling Thriving

The economic crash in Atlantic City has seemed to bottom down at the very least for the casinos, as revenues for the residual gambling resorts are 3.1 per cent greater than these people were at this time final year.

Atlantic City casinos may have finally weathered the storm and started to stabilize the gambling industry for the eight remaining resorts. After a decade of declining profits due to America’s Great Recession and neighboring states pushing gambling legislation in response to abating tax bases, Atlantic City has seemed to reach a new norm.

Not as much as 2 yrs after one-fourth of its casinos went out of business, revenues for Atlantic City reduced only marginally in March. The area’s casino win totaled $187,463,591 for the 1.7 percent loss, though whenever Internet gambling is included Atlantic City fell just 0.4 percent.

Traditional table video gaming was the performer that is worst in March as casinos reported a 5.9 percent drop on supposedly greater win rates. The decrease had been offset by online video gaming, which rose an astonishing 17.8 percent during the thirty days.

Calm After the Storm

Though the government that is local Atlantic City is broke and currently engaged in a bitter debate with Governor Chris Christie (R) and State Senate President Stephen Sweeney (D) over who is better to manage the city’s data recovery, 2016 is off to a solid begin for the casinos.

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Casino News – Resorts World Catskills In Trouble, No Casinos For Chicago, Tricky Rock Vegas Closing For Renos

8 Jan , 2020,
Beth Weissman
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Casino News – Resorts World Catskills In Trouble, No Casinos For Chicago, Tricky Rock Vegas Closing For Renos

This week’s casino news starts us of in upstate New York where among the most lavish, revolutionary casinos is on the verge of bankruptcy. Can the Resorts World Catskills still be saved?

Resorts World Catskills On Verge Of Bankruptcy

The largest upstate casino in nyc is reportedly in the verge of bankruptcy following a couple of years in which it absolutely was unable to generate profits. According to the report, the Resorts World Catskills was hit with a $36 million loss in the last quarter. The business is seriously considering claiming bankruptcy in an effort to square away its debts.

The casino’s shareholder that is largest, the Genting Group, has put forward a proposition to buy out the remaining shares of the company from the parent company Empire Resorts. According to an SEC filing by the publicly-traded company, the $1 billion casino in Monticello suffered operating losses of $73.5 million through the conclusion of June. If Empire Resorts doesn’t take the deal with the Genting Group, it would likely have to declare Chapter11 bankruptcy in order to negotiate its debts with creditors.

After projecting $300 million in revenue for 2019, the Resorts World Catskills happens to be on pace to fall nearly $100 million short of that mark. It will be interesting to see what route the Genting Group decides to take continue following the stunning revelations that are fina

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