Atlantic City Casinos Facing Difficult Challenges With Revenue Down

Atlantic City for a quarter of a century was the destination of gamblers on the East Coast. The city is contemplating legalizing sports betting in their casinos, a move that can not come soon enough.

Revenue dropped again in January. This time ten percent at casinos in Atlantic City. It follows a trend. Revenue has now decreased in twelve of the past thirteen months.

Last year was not a good one for a city that used to compete with Las Vegas for casino gambling bragging rights. Several of their mainstay casinos have been torn down, and some prominent owners have pulled out. The year also saw the first time in thirty years that revenues decreased from the year before.

The addition of casinos with slot machines in the neighboring states to New Jersey is one reason for the decrease. The economy can be considered as another factor.

While the numbers are discouraging, there could be help on the horizon for the struggling casino industry in the city. Three of the biggest casinos in AC are getting face lifts that could revive business in the area. The Taj Mahal, the Borgata, and Harrah's are all in the process of adding casino space and upgrading their casinos.

All eleven of the casinos in the city reported revenue decreases in January. Table game revenue was down 1.5 percent to $120.8 million. Slot revenue dropped to $234.2 million, down a whopping 13.9 percent.

February 11, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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