The Borgata Hotel and Casino is the classiest joint in Atlantic City, and is been the choice of sharp Blackjack players on the east coast. However, as of late the Borgata’s luck hasn’t been so good. During the past quarter Boyd Gaming, the parent company of the Borgata, reported $9 million in gaming losses.
In an industry where luck is known to run in hot and cold streaks, this loosing streak for the house has prompted some investigation. After all, doesn’t the house always win? Many insiders are speculating that the lower gaming revenues are due to a secret blackjack cheating or card counting ring that hasn’t yet been uncovered.
In the 3rd quarter, net revenue at the Borgata sunk to $207.7 million. This represents a decline of 7 percent from last year’s figures. The strange thing about these losses is that they aren’t related to less business, they’re related to the casino simply not winning as much from players at the blackjack table.
The vice president of marketing at the Borgata, Dave Coskey, has assured worried investors that an internal review of gaming operations revealed no cheating. However, if the Borgata’s blackjack losses are due to an inside job it may take a long time to uncover the source.
In the end, it seems that the Borgata management has simply resigned to the fact that they’ve hit an unlucky streak. However, if this trend continues it is more and more likely that someone from the inside is running a huge blackjack scam.