Nonstop snow causes Atlantic City to lose more

Just when everyone thought Atlantic City casinos have already suffered enough from big losses during the global recession, winter snow has been pounding the region nonstop which causes the city’s revenue to fall down even further.

The Northeast has experienced an unusual number of snowstorms this season. This made people stay inside their house to avoid the cold, thus lessening the number of visitors of the casinos.

The first casino to take the brunt was the Borgata Hotel Casino and Spa which lost $5 million during the first major snowstorm late last year, according to the report released by Boyd Gaming, Borgata’s owner.

Month after month, snow pounds the region even reaching as far south as Florida as the winter season shows no sign of ending soon. Boyd estimates that once the weather clears up, Borgata would have lost another $5 million in revenue.

Profits in Atlantic City casino continue to decline with double digit losses seen recently. Some casinos are too battered to afford any more losses this year.

Competition toughening up in the region is also partly to blame for the losses. After legalizing gambling, Pennsylvania has already overtaken Atlantic City in casino income last month.