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Borgata Powers 7.1% Win Spike

11 Jan 2005

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "Borgata was spectacular, Resorts was solid and the rest of the casinos were so-so - except, of course, for Donald Trump's bankrupt gaming halls.

"All in all, 2004 was a pretty good year for the casino industry, with gaming revenue surging 7.1 percent to a record-breaking $4.8 billion, the Casino Control Commission reported Monday.

"It was the biggest year-over-year percentage gain since 1995 and the 26th consecutive year of revenue growth since casinos revived this once-dying resort town in 1978. December, normally a slow month, capped off the strong year with a 12.6 percent jump in revenue.

"…For the year, Borgata raked in $636.5 million in revenue, second only to Bally's Atlantic City. A year-over-year comparison could not be made for Borgata because it has been open only 17 months, but it led the industry in 2004 in table-game revenue ($232.7 million) and was second to Bally's in slot win ($403.8 million).

"Bally's, the sprawling complex that includes the Wild Wild West Casino and the former Claridge Casino Hotel, topped the industry in 2004 with $644.7 million in total slot and table-game winnings. However, Bally's revenue was down 4.9 percent from 2003 due in large part to competition from Borgata.

"Gaming giant Caesars Entertainment Inc. operates Bally's, Caesars Atlantic City and the Atlantic City Hilton Casino Resort. Caesars and the Hilton stumbled in 2004, each suffering a 4.5 percent revenue decline.

"Harrah's Entertainment Inc., owner of Harrah's Atlantic City and the Showboat Casino Hotel, is taking over Caesars Entertainment this year in a $9.4 billion merger pending final regulatory approvals. As part of the deal, the Hilton has been sold to Colony Capital, owner of Resorts Atlantic City.

"Resorts posted an 8.5 revenue gain in 2004 thanks to the July opening of the $125 million, 400-room Rendezvous hotel tower and the addition of new table games and slot machines. Table-game winnings were up 9.8 percent and slot business increased 8 percent to give Resorts a total of $252.8 million in gaming revenue.

"…Revenue at the flagship Trump Taj Mahal Casino Resort dropped 2.7 percent to $503.3 million for the year. Trump Marina posted a modest 1.3 percent increase to $263 million, while Trump Plaza Hotel and Casino was flat at $318.3 million.

"…Sands Casino Hotel, the city's smallest gaming hall, ended the year with a 2.4 percent increase in revenue, to $190.2 million. Growth at the Sands was fueled by a nearly 22 percent jump in table-game revenue."

 
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