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Atlantic City casino revenue up 1.3 pct

Tue Apr 10, 2007 3:11pm EDT

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NEW YORK, April 10 (Reuters) - Gamblers lost $438.3 million at casinos in Atlantic City, New Jersey, in March, 1.3 percent more than a year before, the state's gambling regulator said on Tuesday.

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The 11 casinos in the second-largest U.S. gambling market won a combined $312.3 million at slot machines and $126 million at table games, the New Jersey Casino Control Commission said.

Slot machine revenue was essentially flat, while table game winnings rose 4.6 percent, the regulator said.

For the first three months of 2007, Atlantic City casino revenue, or gaming win, was down 2.1 percent at $1.2 billion, the regulator said.

Atlantic City casinos are trying to transform the oceanside resort into an entertainment destination like Las Vegas but have faced competition from new gaming venues in nearby Pennsylvania.

Several casino companies, including Harrah's Entertainment Inc. HET.N, Trump Entertainment Resorts Inc. TRMP.O, and a joint venture between MGM Mirage Inc. (MGM.N) and Boyd Gaming Corp. (BYD.N), are upgrading properties in the city.

Gaming wins at Borgata, owned by the MGM and Boyd joint venture, rose 12.6 percent in March to $66.4 million -- the highest take of any single casino. Combined gambling revenue at Trump Entertainment's three Atlantic City casinos rose 3.2 percent in the month to $87.4 million, according to the regulator.

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