Atlantic City Gambling Revenue Down In June, Competition Looms

Atlantic City casinos have been struggling for several years, and the troubles are only expected to get worse with looming competition from Pennsylvania and Delaware. In June, AC casinos had a chance to show they will still be the king of the gaming industry in the Northeast.

That opportunity came and went and now looks as though it has been wasted. AC casinos had their revenue decrease by eleven percent in June from the same period in 2009. Revenue was $286.8 million, and now the city must brace for the loss of customers that will come when Pennsylvania starts table games this month.

"It is likely that we have seen the end of the AC dominance in casino gaming," said Gaming Analyst Steve Schwartz. "With so much competition on the horizon, it will be nearly impossible to ever reach the revenue figures that the city saw during its heyday."

Pennsylvania residents have long come from their home state to gamble in AC casinos. New Jersey allowed the table games such as blackjack, craps, and roulette, that Pennsylvania casinos were missing. As of July, the tables are ready to go in Pennsylvania, and the shift in power has begun.

As recently as December, Pennsylvania casinos had higher slot revenue than New Jersey. That was the first time in history that occurred, but many analysts believe it will not be the last time. The Pennsylvania casinos are new and the hype surrounding them cannot be matched in Atlantic City.

The first half of the year for Atlantic City casinos has been dreadful in terms of revenue. The $1.77 billion won may sound like a lot of revenue, but it was down over eight percent from the same period the previous year.

July 9, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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