For Don Marrandino, eastern regional president of Caesars Entertainment Inc., the shutdown caused by Hurricane Irene caused an irreparable loss to Atlantic City’s gaming industry and swept all possibilities to close the month with positive numbers. The storm forced the existing 11 casinos to cease their operations for three days, causing an estimated $45 million in losses, and the largest monthly decrease in 33-years of history. The previous record was set in March 2009, which saw a 19.4% decline.
The largest decline in revenue was reported at the Trump Taj Mahal Casino Resort, down 35.5% to $25.9 million, and Trump Plaza Hotel Casino, down 34.9% to just over $11 million. ACH Casino Resort was down 27.7% to $11.8 million; The Showboat Casino Hotel was down 25.4% to $21.6 million; and Resorts Casino Hotel was down 23.2% to $12.4 million.
Right in the middle are Bally’s Atlantic City (down 22% to $30.4 million); Harrah’s Resort Atlantic City (down 21.4% to $34.9 million); and the Golden Nugget Atlantic City (down 14.1 percent to $11.2 million).
Caesars Atlantic City was down 10.5% to $38.2 million; the Borgata Hotel Casino & Spa was down 9.9 % to $54.4 million; and the Tropicana Casino Resort was down 8% to $26.4 million. Gaming revenue for the first eight months of the year is $2.3 billion, down 8.7% from the same period in 2010.