Atlantic City casino revenue up in March

The New Jersey Casino Control Commission had good news for Atlantic City casinos on Tuesday: Revenue was up in March compared to last year.

The grand total: $438.3 million in gross casino revenue was made in March 2007, a 1.3% increase over the same month a year ago.

All told, the Commission reports, 11 casinos won $312.3 million at the slot machines and another $126 million at table games; slot revenue was virtually unchanged, declining about $111,000, but table revenues increased 4.6%.

It wasn't quite enough to boost revenue overall for the first three months of 2007, with the total of $1.2 billion actually down 2.1% from the same period in 2006, although revenue from table games was again up, at 5.2% for the three months.

The Commission also said casinos paid $35.1 million (8%) in taxes on their gross revenues in March into the Casino Revenue Fund, which pays for programs that benefit qualifying senior citizens and people with disabilities.

Another $5.5 million was provided in reinvestment obligations, as the casinos are also required to reinvest 1.25% of gross revenues in projects approved by the Casino Reinvestment Development Authority.

courtesy of Christopher Hunt

News Added: 12 April, 2007

Number of views : 848