Storm leads to biggest loss in revenue to Atlantic City casinos
As last month’s hurricane Irene in the East Coast continues to take a toll on houses and businesses, resulting in losses worth billions and claiming seven lives; the aftermath of storm for the Atlantic City casinos caused a record drop in revenue, confirmed several biz reports.
The latest figures estimate 20 percent loss in revenues at Atlantic City casinos, owing to hurricane Irene which hit the state last month. A 20 per cent loss marks the heaviest monthly loss ever in the history of New Jersey's casinoes.
11 gigantic gambling centers in the southeastern city of New Jersey, were forced to shut down for three days during the storm. The storm-struck closedown costed the industry millions of dollars in losses. The deserted weekend at casinos had resulted in the worst losses ever, say business analysts.
19.8 percent loss in revenues in August
Division of Gaming Enforcement reports marked a drop in the August revenues exactly by 19.8 percent. Storm-led closures broke the earlier records of 19.4 percent decline in revenues, reported in March 2009.
To further add to the woes there were only four Sundays, instead of five of that of last year’s, which further hurt the casino industry, claimed the business owners.
Slot machines revenues suffered almost 21 percent which comes to a loss of $193.7 million; table games income, at the same time, diminished by 17 percent, which comes to $85.1 million.