Borgata has a losing quarter...

[pocketpared]

http://www.state.nj.us/casinos/home/...f/2ndq2007.pdf

[*TT*]

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http://www.state.nj.us/casinos/home/...f/2ndq2007.pdf

[/ QUOTE ]

since the new expansion will launch soon isn't as shocking as many have projected. But its also a sign that the competition in other markets is beginning to affect the Borg. WV table gaming is going to radically change Atlantic City marketing efforts.

[AngusThermopyle]

huh?

Borgata, "losing quarter"?

Net income of positive $28.9M for the quarter.

Edit to add:

Last year, $172.9M casino revenue for Q2
This year, $178M casino revenue for Q2.

[*TT*]

[ QUOTE ]
huh?

Borgata, "losing quarter"?

Net income of positive $28.9M for the quarter.

[/ QUOTE ]

loosing as in its their first downward slide, they have always seen increases quarter after quarter since the day they opened.

[chillrob]

[ QUOTE ]
[ QUOTE ]
http://www.state.nj.us/casinos/home/...f/2ndq2007.pdf

[/ QUOTE ]

since the new expansion will launch soon isn't as shocking as many have projected. But its also a sign that the competition in other markets is beginning to affect the Borg. WV table gaming is going to radically change Atlantic City marketing efforts.

[/ QUOTE ]

Table gaming didn't pass in Charles Town, the closest track to DC and Baltimore. Does AC get many people from western PA? I would think that would be the only players who might change where they go now.

[AngusThermopyle]

[ QUOTE ]


loosing as in its their first downward slide, they have always seen increases quarter after quarter since the day they opened.

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Please note that their net revenues (not just casino) went from $189,372,000 to $202,099,000.

It's just their costs for "goods and services" went from $101,899,000 to $119,642,000, a healthy 18% jump.

[pocketpared]

Thanks for clarifying my omission. A friend from Pennsylvania told me last week that they are soon going to vote to increase the games they offer at their slot casinos in the Poconos. I was told this includes at least poker. A quick Google didn't add anything to what he told me.

[pocketpared]

Borgata win down for the most recent month:

http://www.state.nj.us/casinos/home/...07_revenue.pdf

[AngusThermopyle]

If you look at the last table, year to date, not just one month,

Hilton down 6.8%
Bally's down 3.1%
Showboat down 3%
Tropicana down 7.7%
Trump Marina down 3.5%
Trump Plaza down 6.4%
Trump Taj down 3.0%

Borgata up 3.8%

[pocketpared]

The decline is starting to affect Borgata. This is the most profitable time of the year for AC casinos.