AC Casinos Post Biggest Revenue Loss Ever

Atlantic City's 11 casinos posted a 19.2 percent drop in revenue last month, the biggest monthly decline in the state's 30-year history of legalized gambling.

Every casino in the city saw a decline, most by 20 percent or more, and some by nearly 30 percent, according to the state Casino Control Commission.

The figures released Tuesday provide further evidence that the recession and stiff competition from slots parlors in Pennsylvania and New York are putting a beating on the nation's second-largest casino market.

Three casinos here are in bankruptcy, a fourth is headed there within a week or two, and still another is fighting off foreclosure because it can't pay its bank loans.

Copyright AP - Associated Press
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