Atlantic City on Perpetual Losing Streak - TheStreet

NEW YORK (

TheStreet

) -- How much worse can Atlantic City's gambling business get? It looks like a lot, as the New Jersey gambling hub reported an 11.1% plunge in June to $286.8 million.

These are the worst results coming out of Atlantic City since February's 15.7% plummet, which doesn't bode well for the months ahead.

Other than being hurt by sheer consumer cutbacks, Atlantic City is falling prey to the recent introduction of table games at casinos in Pennsylvania and Delaware. As a result, table-game revenue in Atlantic City dropped 16.2% to$79.9 million, while slots fell 9$% to $206.9 million.

Borgata, which is co-owned by

Boyd Gaming

(BYD) - Get Report

and

MGM Resorts

(MGM) - Get Report

, saw an 11.7% drop off to $51 million during the month.

Casinos were in the red Monday afternoon, with

Las Vegas Sands

(LVS) - Get Report

declining 1.9% to $22.87,

Wynn Resorts

(WYNN) - Get Report

losing 3.5% to $76.88, MGM slipping 1.7% to $9.80, Boyd off 2.2% to $8.39 and

Isle of Capri Casinos

(ISLE)

falling 3.1% to $9.10.

-- Reported by Jeanine Poggi in New York.

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