BORGATA DELTA IS THE ONLY POSITIVE AC TAKEAWAY

05/11/09 05:37PM EDT

April in Atlantic City was cold.  Gaming revenues declined 14% YoY, better than the 19% decline in each of the last two months.  Who cares though?  Business is bad and the 6 month moving average continues to trend downward.  Let's move on.

BORGATA DELTA IS THE ONLY POSITIVE AC TAKEAWAY - AC april

I wouldn't exactly call Borgata's performance hot, but on a relative basis it was blistering.  Revenues were flat YoY in April, following an 8% decline in March.  The property almost posted its first revenue gain since August 2008.  Both slots and tables were roughly flat, slots up a titch, tables down slightly.  The six month moving average turned up in April marking the first positive discussion point coming out of AC in a long time.  We'll see if that's sustainable, but what is sustainable is the advantage of having the best asset in the market.

BORGATA DELTA IS THE ONLY POSITIVE AC TAKEAWAY - Borgata april delta

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