Fewer Freebies from Atlantic City
March 3, 2009 (InfoPowa News) — Casino comps, the freebies handed out to gamblers to motivate their return, are generally in decline at Atlantic City's 11 land casinos, victims of the economic meltdown, reports the Associated Press.
Total comps fell by nearly 5 percent in 2008, declining to $1.55 billion, and industry analysts cite the spluttering U.S. economy and its negative impact on the man in the street's disposable income as the unavoidable cause.
Adding to Atlantic City's troubles is the competition from slots parlors in Pennsylvania and New York, which have been attracting gamblers who once had little choice but take their gambling entertainment to Atlantic City.
Associated Press quotes land casino analyst Joe Weinert, who says that the downward trend could last well into 2010 as casinos focus their promotional cash on bigger fish, leaving the average gambler with fewer freebies.
Revenues at Atlantic City casinos fell a debilitating 7.6 percent in 2008.