Borgata Hotel and Casino Lays Off 400 Employees This Week.

The Borgata Hotel and Casino, one of the foremost and popular casinos in the United States and abroad, announced this week it was laying off 400 employees. The announcement comes on the heels of Harrah’s Entertainment also laying off hundreds more of its own employees at 4 of their properties in Atlantic City.

Boyd Gaming, which owns the MGM Mirage in Las Vegas and the Borgata in A.C., has been hurting in the revenue department through the latter part of 2008. The current economic crisis going about in the U.S. has not helped the gaming giant in recent months, with slots and table game revenue down 6% in 2008 for its current properties - a significantly lower number compared to 2007.

“The one thing we believe about this current cycle is that no one anticipated its lasting this long,” said Boyd Gaming spokesman Rob Stillwell. “But this is a cycle, and we’ll cycle through it and get to better days.”

With the upcoming winter season coming up, casino revenue will most likely flatline for the next couple of months, before hopefully making positive rebound during the spring and summer.