Atlantic City casino resorts, once jam-packed year round, have seen a large decline in profits over the last several months. August was no different. The month of August is usually the busiest month of the year for Atlantic City casinos. However, this past month saw a revenue decline of over 16% from August of 2008, just a year ago. This 16% in profits isnt trivialit accounts for a loss of more than 2.5 billion dollars in casino profits for the city.
Atlantic City is home to eleven casinos and every single one of them reported a decline in profits in August. The Tropicana Casino resort reported a decline of 6.9%, which was the lowest decline. The Trump Plaza Hotel and Casino reported a whopping 30% profit drop from last summer in the popular vacation month of August.
The decline in casino profits in Atlantic City is not new. Atlantic City casino profits have been falling for the last few years. However, Augusts drop was significantly larger than in past years. Analysts of the situation have blamed several issues for the apparent downfall of Atlantic City. For one, many of these beachside casino resorts are letting themselves fall apart. Renovations and rejuvenations are few and far between. Additionally, anti-smoking laws that banned players from smoking in large portions of the casinos also led to a decline in customers. However, one of the largest factors in the loss of Atlantic City casinos seems to be online casino gambling.
Players that once travelled for miles to spend a day or two in Atlantic City have discovered that they can easily play casino games online and save money on gas and accommodations. Especially because of the current recession and economic crisis, gamblers and travelers in general are finding that they are opting for the more frugal options.
With online casino, gamblers can play all their favorite real money gambling games including casino blackjack, roulette, video poker, online slot machines, casino roulette, baccarat, Keno, craps and more. With all of these exciting online casino games at players fingertips they arent as anxious to spend the money to head to Atlantic City.
Online casinos also offer players a lot more worthwhile bonuses and promotions. While an Atlantic City casino may offer new players a welcome bonus of $10 or at most $20 and comps for food and drinks, online casinos are known to offer thousands of dollars in bonus cash. Rome Casino, for instance, has a current welcome bonus on the table worth up to $5,000, redeemable over a players first five deposits.
As Atlantic City casinos attempt to gain back their edge and increase their profits they are taking drastic measures. The managements of Trump Entertainment, Harrahs and Tropicana are proposing a three-year contract to freeze the wages of their waiters, bartenders, dishwashers and housekeepers. It will be interesting to see how things work out for the Atlantic City casinos and their employees.