NEW JERSEY CASINO CONTROL COMMISSION ANNOUNCES OCTOBER REVENUES
ATLANTIC CITY, N.J., Nov. 13 /PRNewswire/ -- The casino industry reported gross revenues of $241,728,606 during October, an increase of 1.2 percent when compared with October 1990 when the gross revenue was $238,803,950, according to reports submitted to the Casino Control Commission.
The slight increase is attributable to a $6.5 million, or 4.4 percent, rise in slot machine win which was offset by a $3.6 million, or 4 percent drop in table game win.
Gross revenue or "win" is the amount which the casino retains after all bets have been paid off but before any expenses, extraordinary charges or taxes have been deducted. "Win" does not mean profit.
The state collected $19,151,001 in taxes during October for the Casino Revenue Fund which is used to finance various programs to aid senior citizens and disabled persons. Thus far this year the state has collected $200,341,600 and has exceeded $2 billion since the first casino opened in 1978.
Seven of the casinos reported increases compared with October of last year while five others showed declines.
Gross revenues were reported as follows with 1990 revenues in parenthesis: Trump Taj Mahal, $29,749,023 ($32,125,290); Caesars, $24,596,766 ($21,900,391); TropWorld, $23,191,028 ($22,345,183); Harrah's Marina, $22,309,455 ($20,212,905); Bally's Park Place, $21,261,526 ($21,253,605); Sands, $21,147,275 ($18,145,926); Showboat, $19,495,262 ($20,072,654); Resorts, $18,319,566 ($18,035,024); Trump Plaza, $17,289,375 ($20,010,401); Trump's Castle, $16,473,006 ($17,177,976); Bally's Grand, $15,456,439 ($16,230,883) and Claridge, $12,439,885 ($11,293,712).
The casinos reported 52 "million dollar days" with Trump Taj Mahal reporting a $2 million day on Oct. 12 when it had revenues of $2,116,897.
The daily average for October was $7,797,697 compared with $7,703,353 for October 1990.
/CONTACT: Tom Flynn of the Casino Control Commission, 609-441-3799/ CO: New Jersey Casino Control Commission ST: New Jersey IN: CNO SU: ERN MK -- PH030 -- 4037 11/13/91 14:34 EST