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Penny slot machines are doing surprisingly well in Atlantic City, despite the lack of any sign that economic recover is near at hand of brick and mortar casinos.  Before 2002 there were no penny slot machines in the town.  Now, there are more penny slot machines than any other type of slot machine in Atlantic City, excluding multidenominationl and quarter slot machines.

For the past two years, even before the rest of the country became mired in an economic recession, brick and mortar casinos in Atlantic City have seen a steady decline in revenue.  In the first three month of 2009 alone, casino revenues have seen a 16.2 percent decline.  Last year the city raked in a total of $4.55 billion in gambling revenues and $3.13 percent of that came from slot machines. 

Slot machines too lost revenue.  In 2008, revenue from slot machines fell a total of 9.6 percent.  However, revenue for penny slot machines and multidenominational slot machines has been climbing.

“Penny games have been phenomenally successful,” said Daniel Heneghan, a spokesperson for the New Jersey Casino Control Commission. 

Penny slot machines can now be found in virtually every casino in Atlantic City.  Borgata Hotel Casino & Spa typically caters to high rollers.  But even they have not been able to resist the appeal of penny slot machines.  After adding 32 percent more penny slot machines than the year before, they stand third for most penny slot machines carried behind Bally’s Atlantic City and Trump Taj Mahal.  In 2008, Borgata had 927 penny slot machines.  Bally’s and the Taj Mahal had 991 and 946 respectively

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