Penn National Says No To Atlantic City Casino

Penn National is developing quite a reputation for promising to bring a casino to an area in the US, and then pulling out of the project. That is what happened again on Thursday when the company announced they are not following through with their Atlantic City project.

The gaming firm from Pennsylvania decided that the economy was simply to much to overcome and that the timing was not right to be building a lavish casino resort. It would have been far away from Atlantic City's other eleven casinos, but the competition may still have been too much for Penn National.

This is the second time in the past year that Penn National has pulled out of a project to avoid any kind of competition. Last year, they had a contract with the state of Kansas to build and operate a state run casino, but they decided their product was not strong enough to compete with a neighboring tribal casino.

In Atlantic City they have company. Pinnacle Entertainment and MGM Mirage have both scrapped plans to build casinos and help the city become prevalent again in the casino industry. The economy proved too much for them, much like it has for Penn National.

Atlantic City now finds itself in a bind. The casinos that currently exist in the city are having revenues decrease on a monthly basis, and surrounding states to New Jersey are expanding their gambling options.

The economy has been difficult on all of the casino gambling industry. The state of Nevada, which is the casino leader in the US, is experiencing some of the lowest revenue figures of all time, and other developers have stalled expansion in various states throughout the US.

February 5, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
Submit News!

Atlantic City Casino Workers Slashed By Almost Seven Percent
Denny's Gambles And Wins With Free Breakfast Promotion
Casinos Good For Employee Wages And Benefits, According To Study
Seminoles Put Power Play On Florida Lawmakers For Casino Compact
Downtown Las Vegas May Get First New Casino In Thirty Years