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Atlantic City Casino Revenue Shows Signs of Stabilizing, Online Gambling Thriving

The financial crash in Atlantic City has seemed to bottom down at the very least for the casinos, as revenues for the rest of the gambling resorts are 3.1 percent higher than they certainly were at this time final year.

Atlantic City casinos could have finally weathered the storm and begun to stabilize the gambling industry for the eight resorts that are remaining. After ten years of decreasing profits due to America’s Great Recession and neighboring states pushing gambling legislation in response to abating tax bases, Atlantic City has appeared to reach a norm that is new.

Less than 2 yrs after one-fourth of its casinos went away from company, profits for Atlantic City reduced only marginally in March. The area’s casino win totaled $187,463,591 for the 1.7 loss that is percent though when online gambling is included Atlantic City fell just 0.4 percent.

Traditional table gaming was the performer that is worst in March as casinos reported a 5.9 percent drop on supposedly higher win rates. The decline had been offset by online video gaming, which rose an astonishing 17.8 percent during the month.

Calm After the Storm

Although the municipality in Atlantic City is broke and currently engaged in a bitter debate with Governor Chris Christie (R) and State Senate President Stephen Sweeney (D) over who is better to manage the town’s data recovery, 2016 is off to a good begin for the casinos.

Gambling Continue reading “Atlantic City Casino Revenue Shows Signs of Stabilizing, Online Gambling Thriving”

Casino Information – Resorts World Catskills In Hassle, No Casinos For Chicago, Intense Rock Las Vegas Closing For Renos

This week’s casino news starts us of in upstate New York where one of many most luxurious, revolutionary casinos is on the verge of bankruptcy. Can the Resorts World Catskills be saved still?

Resorts World Catskills On Verge Of Bankruptcy

The upstate casino that is largest in New York is reportedly in the verge of bankruptcy following a year or two by which it had been unable to generate profits. Based on the report, the Resorts World Catskills was hit with a $36 million loss in the final quarter. The business is seriously considering claiming bankruptcy in an effort to square away its debts.

The casino’s shareholder that is largest, the Genting Group, has put forward a proposal to buy out the remaining shares associated with the company from the parent company Empire Resorts. According to an SEC filing by the publicly-traded business, the $1 billion casino in Monticello suffered operating losses of $73.5 million through the conclusion of June. If Empire Resorts does not take the deal with the Genting Group, it might likely need to declare Chapter11 bankruptcy so that you can negotiate its debts with creditors.

After projecting $300 million in revenue for 2019, the Resorts World Catskills is currently on pace to fall nearly $100 million short of that mark. It will be interesting to see just what route the Genting Group decides to take continue after the stun Continue reading “Casino Information – Resorts World Catskills In Hassle, No Casinos For Chicago, Intense Rock Las Vegas Closing For Renos”