Atlantic City nosedive continues..

[Mr. AtlanticCity]

[ QUOTE ]
quarterly reports like this have no bearing on my life.

[/ QUOTE ]

I don't know, this recent report really has me considering canceling my day trip next week to Atlantic City. [img]/images/graemlins/tongue.gif[/img]

[Eponymous]

As has been pointed out in other of the OP's similar threads, when new competition enters the market, they are going to gain some market share. So the existing competitors' market share is naturally going to be less unless new customers magically appeared along with the new competition. These reports reflect just that -- a percentage less win than the same month a year ago. Not a continuing decline like his misleading titles try to claim. It would be more of a concern if every month the percentage decrease from the same month in the previous year continued to grow, but it's not. And it's not speaking to any decline in profits.

If there is a nosedive occurring in AC, then there are a whole bunch of terrible businessmen at a number of companies building new casino resorts or adding towers to their current properties, including:
- MGM Mirgage's new $5B casino resort next to the Borgata
- A new tower currently being built at the Borgata
- Revel/Morgan Stanley's new $2B resort/casino on the boardwalk
- Pinnacle's new $2B casino on boardwalk at former Sands site
- A new tower currently being the Taj Mahal
- A new tower currently being built at Harrah's
- A potential major expansion at the Hilton
- Interest from several companies in putting a major casino at the Bader Field site

But this article in Newsday today, "Atlantic City in 2012: A new world in gambling resort," tells it much better than I do. As they say in their opening, "Five years from now, you might not even recognize this place."

Sounds like a real nosedive.

[cjk73]

LOL, lost month pocketpared was gleeful to report that the nosedive was "accelerating" ... guess it is not "accelerating" anymore just "continuing".

Anyway, he's a troll that somehow feels he knows more about the gaming industry and markets then the multi-billion dollar gaming companies themselves because he learned how to count cards at blackjack...lol at him.

[Mr Rick]

I appreciate the monthly updates and look forward to the thread and all responses.

I am interested to see if and when the declining slot machine numbers level off or increase. Or if people will continue to look for a more local venue to mindlessly waste their time and money.

I also am heartened by the strength of table games. Once Mohegan Sun and MA open up their poker rooms/casinos I expect Foxwoods' poker room to become a wasteland - so AC might become my most viable alternative...