Atlantic City Casino Revenue Down For Seventeenth Straight Month

Atlantic City used to be a place where the likes of Frank Sinatra and Sammy Davis Jr. hung out with their Rat Pack. Now, the biggest thing going for the state of New Jersey is an MTV show based in Seaside Heights.

In January, casino revenue decreased in Atlantic City for the seventeenth straight month. It was yet another sign of how the winds of change are sweeping across the casino industry in the Northeast.

Casinos in AC won $294.2 million in January. That was down 8.5% from the same period in 2009. Back then, the figure was down from the same period in 2007. It is a trend that is happening way too often these days.

The last time that casinos in Atlantic City saw an increase in revenue was back in August of 2008. That is a long time for an area that is dealing with increasing competition from many of its neighboring states.

In Pennsylvania, lawmakers recently legalized table game gambling for their casinos. Pennsylvania slot revenue was higher than New Jersey's for the first time ever in December, and it is likely just the beginning of the changes that may occur.

No particular area of the casinos are struggling more than others. Slot revenue in January was down to $195.5 million, a drop of 7.6%. Table game revenue dropped 10.1% in the month, down to $98.7 million.

February 9, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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