Comps Up In Atlantic City

[Thomas]

Comps are the freebies that casinos dangle to entice gamblers to spend their time and money. They range from free hotel rooms and show tickets to coupons for a free buffet or a roll of quarters to pump into slot machines.

But comps are getting a closer look this year in Atlantic City, where for the first time in the 29-year history of legalized gambling, casinos will likely take in less money than they did the year before.

Bad news for casinos has so far meant good news for gamblers. Revenues at the city's 11 casinos declined by 5.5% in May, marking the fourth month out of five this year that the take was down from the previous year.

But comps, defined as promotional allowances and expenses to attract customers, were up 2.1% over the first quarter of 2007.

Four casinos have cut back on their comps as a way to make up for declining revenue. But seven others are handing them out faster, hoping to hold on to customers who now have other, closer places they can gamble.

In particular, slots parlors that opened up within the past six months in Pennsylvania have eaten into Atlantic City's core customer base, which still consists of slots players who often arrive in buses and consider a free buffet coupon a dealmaker, if not a birthright.

[Thomas]

Comps going up are always a good thing. I can tell you where I'll be going on my next AC trip, and it certainly ain't to those tightwads who have lowered comps.