This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

No October Jackpot for Atlantic City Casinos

Stocks in this article: HET MGM HLT BYD

Other notable declines were posted at the Showboat Casino Hotel (down 20.8%), owned by Harrah's; Bally's Atlantic City (down 18.5%), a Harrah's property; Trump Plaza Hotel and Casino (down 17.3%), and the Tropicana Casino and Resort, whose parent company on Monday filed a plan to emerge from Chapter 11 bankruptcy protection. The Tropicana was down 16.2% for the month.

The Borgata Hotel Casino & Spa, a joint venture between Boyd Gaming (BYD) and MGM Mirage (MGM), which last week laid off 400 workers, was down 2.5%.

The Trump Taj Mahal Casino Resort was up 20.5%, helped by the opening of a second hotel tower, and luckier than usual play in its casino.

Harrah's Resort Atlantic City was the only other casino to post a revenue increase, up 63%. It, too, was helped by the opening of a second hotel tower earlier this year.

Another factor hurting October's revenue was a smoking ban that took effect Oct. 15. Although it was be put on hold for at least a year on Nov. 16, the ban has already done its damage at some casinos.

Tolosa said slot revenue at Harrah's four Atlantic City casinos was down by 12 percent for the first 15 days of October. But once the ban took effect, slots numbers fell 20 percent in the final two weeks of the month.

A similar effect was seen at the three casinos run by Trump Entertainment Resorts, company CEO Mark Juliano said.

He said the opening of the Chairman Tower at the Taj Mahal in late September started paying off big in October.

2 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs