Borgata Casino lays off 3 percent of Atlantic City workforce - pressofAtlanticCity.com
Borgata Casino lays off 3 percent of Atlantic City workforce
By DONALD WITTKOWSKI, Staff Writer | Posted: Monday, October 25, 2010
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Borgata did not divulge the exact number of layoffs or elaborate on the types of jobs that were eliminated.
Photo by: Danny Drake
Related: Borgata revenue, profits slip in second quarter for Atlantic City casino
With related story: Boyd Gaming won't buy remaining half of Borgata
ATLANTIC CITY - Borgata Hotel Casino & Spa has cut 3 percent of its work force in response to declining business, the company said Monday night.
Borgata did not divulge the exact number of layoffs or elaborate on the types of jobs that were eliminated. The most recent employment figures compiled by the New Jersey Casino Control Commission show that Borgata had a total of 6,685 workers in September, so a 3 percent cut would equal about 200 jobs.
Related story: Boyd Gaming won't buy remaining half of Borgata Casino in Atlantic City
"In our efforts to improve efficiencies within our business, we are adjusting our staffing levels to be commensurate with current business levels. In addition, we've taken certain steps, including the consolidation of some departments and functions. These efforts result in a reduction of about 3 percent of our total work force," Dave Coskey, Borgata's vice president of marketing, said in a statement.
Boyd Gaming Corp., Borgata's parent company, reported Monday that Borgata's net revenue shrank to $207.7 million in the third quarter, a nearly 7 percent decline from $222.6 million a year ago. In addition, gross operating profits plunged 19.7 percent to $54.3 million for the quarter, the company said.
Borgata and Atlantic City's 10 other casino hotels have been eliminating jobs during the past two months, reflecting the traditional post-Labor Day slowdown in tourism and the weak economy. Atlantic City also has been hurt by competition from the Pennsylvania casinos, which expanded their gambling attractions this summer by introducing new table games.
Altogether, the gaming industry slashed nearly 1,400 jobs in September. Borgata, which has the city's largest work force, cut 272 jobs then. The approximately 200 layoffs announced by Borgata on Monday were about the same number of cuts in October 2009, when 175 jobs were eliminated at the casino.
Contact Donald Wittkowski:
609-272-7258
DWittkowski@pressofac.com
Borgata Casino lays off 3 percent of Atlantic City workforce
By DONALD WITTKOWSKI, Staff Writer | Posted: Monday, October 25, 2010
Font Size:Default font sizeLarger font size
Borgata did not divulge the exact number of layoffs or elaborate on the types of jobs that were eliminated. Photo by: Danny Drake
Related: Borgata revenue, profits slip in second quarter for Atlantic City casino
With related story: Boyd Gaming won't buy remaining half of Borgata
ATLANTIC CITY - Borgata Hotel Casino & Spa has cut 3 percent of its work force in response to declining business, the company said Monday night.
Borgata did not divulge the exact number of layoffs or elaborate on the types of jobs that were eliminated. The most recent employment figures compiled by the New Jersey Casino Control Commission show that Borgata had a total of 6,685 workers in September, so a 3 percent cut would equal about 200 jobs.
Related story: Boyd Gaming won't buy remaining half of Borgata Casino in Atlantic City
"In our efforts to improve efficiencies within our business, we are adjusting our staffing levels to be commensurate with current business levels. In addition, we've taken certain steps, including the consolidation of some departments and functions. These efforts result in a reduction of about 3 percent of our total work force," Dave Coskey, Borgata's vice president of marketing, said in a statement.
Boyd Gaming Corp., Borgata's parent company, reported Monday that Borgata's net revenue shrank to $207.7 million in the third quarter, a nearly 7 percent decline from $222.6 million a year ago. In addition, gross operating profits plunged 19.7 percent to $54.3 million for the quarter, the company said.
Borgata and Atlantic City's 10 other casino hotels have been eliminating jobs during the past two months, reflecting the traditional post-Labor Day slowdown in tourism and the weak economy. Atlantic City also has been hurt by competition from the Pennsylvania casinos, which expanded their gambling attractions this summer by introducing new table games.
Altogether, the gaming industry slashed nearly 1,400 jobs in September. Borgata, which has the city's largest work force, cut 272 jobs then. The approximately 200 layoffs announced by Borgata on Monday were about the same number of cuts in October 2009, when 175 jobs were eliminated at the casino.
Contact Donald Wittkowski:
609-272-7258
DWittkowski@pressofac.com