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Atlantic City Casinos Watch Gambling Revenue Slip Again

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Resorts Atlantic City, the oldest casino in New Jersey, is being sold and transformed with the theme of the 1920'2 in mind. What the casino and the rest of the AC casino industry needs, however, is a return to the seventies and eighties, when AC casinos ruled the gaming world.

September gambling revenue figures were released on Tuesday and it was another disappointing month for the casinos. Revenue dropped 11.6% from the same period in 2009, and that is not good considering the 2009 numbers were down as well.

The eleven casinos in Atlantic City all saw revenue decreases in September. The casinos have struggled for the better part of the past two years, and there is nothing to indicate that a turnaround will come anytime soon. The latest revenue figures have officials from the AC casinos again shaking their heads.

Table game revenue at the New Jersey casinos dropped 15.6%. That could be a direct reflection of the table games that are now being offered at Pennsylvania casinos. In July, Pennsylvania casinos started offering table games, and they have been taking customers out of AC casinos in the months since.

Slot revenue also declined in double digits. The 9.9% revenue decrease was not as bad as in some previous months, but it clearly shows that competition and the economy have severely damaged the AC gaming industry. There are some analysts that are now predicting that AC casinos will never see the revenue figures that they once enjoyed on a regular basis.

The overall revenue of $296.3 million kept New Jersey as the second largest gaming destination in the US, but the warning signs all point to Pennsylvania overtaking them in the future. In September of 2009, revenue at the casinos was $335.4 million.

Competition is not only coming from Pennsylvania. Maryland, New York, and Delaware have also expanded their casino options. Massachusetts, Maine, and New Hampshire may not be far behind, with lawmakers considering casino proposals.

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