Atlantic City Gambling Revenue Down Over Ten Percent In June

Atlantic City casino owners can try all they want to spin what is going on with gambling in their state, but the numbers speak for themselves. Revenue figures for June were released on Friday and once again they have the casino owners running for cover.

Gaming revenue for June in Atlantic City fell by another 13.6% in June from the same period last year. The overall revenue was $322.7 million, not nearly what casino owners have grown accustomed to.

If there is anything positive the casinos and the city can take from the figures, it is that as bad as they were, the numbers were still better than in May. The previous month saw a decrease of 15.4%. The first half of 2009 has ended with casinos down 15.3% from the same period in 2008.

Making the outlook even bleaker for a resurrection of business in Atlantic City, is a new campaign that Foxwoods and Mohegan Sun in Connecticut have begun. The two Conn. casinos will place billboards in northern New jersey to try and lure gamblers to come North instead of South.

If the casinos are successful in their attempt, it could be the last straw that would send some of the AC casinos into bankruptcy. The casinos are barely hanging on as it is, and any further loss of business could be devastating.

Atlantic City's competition is not only coming from Connecticut. New York has expanded their casino gaming options, and Pennsylvania, along with Las Vegas Sands, could deliver the knockout blow with their new Bethlehem casino.

July 10, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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