Gamblers lost $4.92 billion in Atlantic City in 2007, but that doesn't make the 11 casinos there winners.
The New Jersey Casino Control Commission released December stats that show the casino industry posted the first decline in gambling revenue in Atlantic City since it was legalized there.
In 2006, a dozen Atlantic City casinos generated $5.2 billion in revenues. With a 10.6 percent drop in December revenues, casinos saw their top line for 2007 down 5 percent to $4.92 billion.
The reasons for the drop? New Jersey's smoking ban was one factor as was the closure of the Sands Hotel Casino in November 2006. But the biggest had to be those slots parlors that have opened at Pennsylvania racetracks. At year's end, six slots parlors were open in Pennsylvania, including Philadelphia Park and Harrah's Chester Downs in the Philadelphia suburbs. Combined, revenues for all of them totaled $1.04 billion in 2007. Which casino hauled in the most? Harrah's Chester at $285.98 million, slightly more than Philly Park at $285.03 million.
Still those slots parlors pale compared to the gambling juggernaut that is Atlantic City's Borgata. Once again, the Borgata grabbed a bigger share of the Jersey market. Its revenues topped $750 million, up from $739 million in 2006.
Comments (1)
Meanwhile the fleecing goes on.
Here we go again the media only addresses gaming issues that have no barring on how Gov. Rendell and our state legislators have given Pa. gaming operators car-blanch to destroy individuals and families. And it’s hard for me to believe that after all this time our media is still clueless on how casinos operate, but then again you couldn’t find enough gaming knowledge from those who brought gaming upon us along with those who now govern are casinos to fill a thimble.
So I’ll try once more to enlighten those of you who are covering this so-called entertainment industry on the sample fact that our Gaming Law has given our casino operators the right to operate with deceptive and fraudulent practices, which in return will breed compulsive casino gamblers, and that breeds criminals.
Here’s a few of those deceptive and fraudulent practices.
Pa. casinos are not aloud to issue any form of credit but they can cash up to $2500.00 in personal checks in a 24 hour period, and they’re using a third party in order to secure these transactions. At Mount Airy Casino they’re using Global Payments Inc. Now I have talked with more then one executive at Global Payments Inc. and they informed me that the system they use dose not check the casino patron’s account at the time of these transactions to see weather or not these funds are available. So if a casino patron is in heat writes a check, the casino cashes it, and there is no money in that account, would that be considered a form of credit, not to mention, temping their patron to cut a bad check and commit a crime.
Throughout the casinos you’ll see an abundance of ATMs, those machines allow casino patrons to make credit-cash advancements, now if the casino operators are getting paid a percentage from those ATM operators, would that make the casinos part of a credit transactions.
Our casinos are open 24/7, now I doubt if any of you have been in a casino on a week day during those early morning hours, that’s when I like to see our casino operators take our Legislators on a tour through the casinos so they could witness pathological casino gambling in full bloom. But I know that’s not going to happen, and I know that we won’t be seeing too many of our Legislators gambling in our casinos and that’s because every one of them I talked to said they don’t gamble. And if you don’t believe me, ask one. And of course we won’t be seeing any of our Gaming Control Board members or any of the over three hundred employees that work for our Gaming Board and that’s because they’re not allowed to use the casino product.
How can this be when Gov. Rendell and those of you who support casino gambling say it’s a form of entertainment no different then going to the ballpark or theater. Are the Gaming Board members and employees not aloud to gamble in our casinos because they might become compulsive gamblers? Or is it because, we wouldn’t won’t them hanging around with those scrupulous characters that the casino environment attracts. Can any one give me another product or form of entertainment in our state that a governing agency is not aloud to purchase or participate in? For an example, are the members of the Pennsylvania Liquor Control Board aloud to purchase and drink alcoholic beverages?
And specking about alcoholic beverages, not all of our casinos do, but some are serving free booze. Now is there any other industry in our state aloud to serve free booze while doing business, can you imagine how many lawsuits there would be if your bank, insurance, mortgage, stockbroker, or automobile dealerships were aloud to serve free booze.
And I'd like to know how many DUI’s occurred from a night out at the casinos or how many alcoholics started up their addiction from those free drinks. And I’m sure there’s a few of you reading this post who after a few to many have done something stupid, so why are we letting the casino operators medicate those who are already doing something stupid.
Our casino operators are offering those so-called freebies known as COMPES, and they’re tracking their patron’s money and time spent gambling with COMP-CARDS. These cards track every move the patron makes in the casino. This COMP-CARD system determines whether you’re going to get the buffet or the penthouse suite. The comps or so-called freebies make some justify their losses as they become addicted to the casino product. The COMP-CARD is their syringe; it’s how they deliver their drug.
Today there are two Bills, one in our House of Representatives (HB 783) introduced by Rep. Clymer and one in our Senate (SB 423) introduced by Sen. Wonderling that will make the casinos send monthly statements. This would enable gamblers and their family members to spot a loved one's gambling problem before it gets out of hand.
You can help by contacting your state legislator and tell them you support (HB 783) and (SB 423)
Open this link to view Gov. Rendell opinion on casinos mailing out monthly statements.
http://www.youtube.com/watch?v=48BJzGvklSo
Posted by bill kearney | January 10, 2008 7:20 PM
Posted on January 10, 2008 19:20