Atlantic City on Perpetual Losing Streak

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) and MGM Resorts ( MGM), saw an 11.7% drop off to $51 million during the month.

Casinos were in the red Monday afternoon, with Las Vegas Sands ( LVS) declining 1.9% to $22.87, Wynn Resorts ( WYNN) 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.

Follow TheStreet.com on Twitter and become a fan on Facebook.

More from Stocks

General Electric's Boot From the Dow: Is This as Bad as It Can Get?

General Electric's Boot From the Dow: Is This as Bad as It Can Get?

News From Starbucks and General Electric Leaves Their Investors Up in Arms

News From Starbucks and General Electric Leaves Their Investors Up in Arms

Facebook Messenger Could Bring in Billions of Dollars -- Here's How

Facebook Messenger Could Bring in Billions of Dollars -- Here's How

How to Invest in Cannabis - In Its Many Forms

How to Invest in Cannabis - In Its Many Forms

5 Stocks That Are Screaming Buys Right Now

5 Stocks That Are Screaming Buys Right Now