Atlantic City Gambling Revenue Continues To Drop This Summer

The Atlantic City casino industry had already been watching revenue decline before Pennsylvania casinos added table games. Now, it appears that Pennsylvania gaming facilities are poised to take over as the gambling capital of the East Coast.

The New Jersey Casino Control Commission released revenue figures for AC casinos for the month of July. The revenue was down five percent from the same period the previous year, providing further evidence that the city is still suffering from the economic recession.

AC casinos had revenue of $363.9 million in July. The summer months are typically slower at casinos throughout the country, but it is clear to some analysts that AC casinos are now experiencing other problems that are affecting the bottom line figures.

"Pennsylvania casinos had already started applying pressure to AC casinos back in December when Pennsylvania casinos had higher slot revenue than their AC counterparts," said Gaming Analyst Steve Schwartz. "Now with the table games addition, AC casinos could be in serious financial danger in the coming years."

New Jersey lawmakers had already planned major changes to the AC casino industry. Last week, Democratic leaders met with the intention of pitching a plan of taking over part of Atlantic City. The plan has been met with skepticism from those inside the industry.

Another change that has been discussed is legalizing sports betting in New Jersey. With Pennsylvania now authorizing table games, sports betting would be something that AC casinos could offer customers that Pennsylvania casinos do not have access to. At this point, it may be one of the only ways to keep Pennsylvania from becoming the East Coast equivalent of Nevada.

August 10, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
Submit News!

Honda Recall Leads Gamblers To Dealerships Instead Of Casinos
Hundreds Of Gambling Employees Forced Out Of Work In Alabama
Ohio Unemployment Rate Will Soon Be Helped By Casino Gambling
UFC Gambling Rising While Fertitta Family Keeps Station Casinos
Matusow In Town For Seminar, Calls Florida Poker Players "Terrible"