Borgata Disappoints Casino Industry

It seems like the new casino is snatching other casinos' gamblers. Figures released by the Casino Control Commission today show the Borgata won 32-point-six million on the slots and just over 14 million at the tables.

July gross gambling revenue at the dozen casinos increased 4.4 percent, to over $436 million, as reported Tuesday by the Casino Control Commission. Although the amount was a single-month record, the percentage increase wasn't even the industry's biggest monthly gain this year.

Gaming executives and analysts expressed disappointment, noting that all but one casino lost market share to Borgata and revenue among the 11 venues open at this time last year declined 6.8 percent. That means Borgata, at least initially, is not growing the market. Borgata won $46.9 million from gamblers, placing fourth on the revenue list behind Bally's, Caesars and Trump Taj Mahal. Borgata opened July 2, missing the first 41 hours of the month. By comparison, the most recent casino opening before Borgata - Trump Taj Mahal on April 2, 1990 - resulted in 5 percent industry revenue gain for the month.

Two Trump "babies" took a beating in July. Trump Plaza reported the biggest revenue decline, due in part to a big swing of bad luck at the gaming tables. Trump Marina revenue declined due to an 18.1 percent plunge in slot volume. Trump officials have blamed lost business on an overdue ramp that would link Borgata to Trump Marina. Neighboring Harrah's also reported a sharp revenue decline, discrediting expert predictions that Borgata would help Marina District institutions while hurting the Boardwalk.

"I'm a little surprised that it (Borgata) didn't help the Marina like I thought it would. There was a lot of traffic and maybe it was difficult to get to," said David Jonas, senior vice president of Atlantic City operations for Harrah's Entertainment. Conversely, the casino farthest from Borgata - the isolated Hilton - was the only house to maintain the same market share it had a year earlier. Hilton's revenue rose by 4.3 percent, best in the city.