Figures released by New Jersey's Casino Control Commission show that losses suffered by Atlantic City gaming halls are falling.

Having been hit by the recession and numerous new gambling halls opening around it, Atlantic City's casino industry may finally have some good news to report.

October's results from the New Jersey Casino Control Commission (CCC) showed that the city, which is the second-largest gambling market in the US, saw the losses suffered by its casinos fall by the smallest amount in 14 months.

Gaming halls in the area reported revenues of $323.8 million (C$338.6 million) last month, a drop of 6.5 per cent year-on-year.

Atlantic City's 11 casinos won $222.4 million at the slot machines and another $101.4 million from table games such as poker and blackjack.

These earnings came despite $4 million of reinvestment, which the casinos are obliged to make in projects approved by the Casino Reinvestment Development Authority.

Commenting on the CCC's figures, Don Marrandino, eastern division president of Harrah's Entertainment, which owns four casinos in the city, refused to get too carried away by the more encouraging financial report.

He said: "I remain bullish, but I'm not ready to say the tough times are over."