Competition Looming for Atlantic City Casinos
Written by Roger S | Sunday, July 11th, 2010
With the introduction of table games such as poker at casinos in Pennsylvania, as well as changes in Delaware’s gambling laws, Atlantic City gambling establishments have a lot to worry about. With business already bad because of the recession, the addition of new games at casinos just across the border will definitely put a dampening on revenue numbers at AC casinos.
Sadly, the financial numbers from activity in June are not too hopeful, either. Casinos in Atlantic City saw their revenue decrease by an average of 11% compared to the same period a year ago.
A gaming analyst noted that it is likely that we have seen the end of Atlantic City dominance in casino gambling. “With so much competition the horizon, it will be nearly impossible to ever reach the revenue figures that the city saw during its heyday,” he said.
The tables started to turn around the end of this year, when, for the first time, Pennsylvania casinos reported higher slot revenues than casinos in Atlantic City. Now, with the introduction of poker and other table games such as blackjack from July 1st, these revenues will continue to increase significantly.
June saw revenue in Atlantic City casinos total $286.8 million from table games and slot machines. This was in comparison to $322.7 million in June, 2009.
Huge names saw almost frightening declines, such as Caesars Atlantic City (18%) and the Resorts Atlantic City which reported a drop of nearly 20%. Only the Trump Marina saw a minimal growth of 2%.
In the meantime, Pennsylvania casino reported crowded floor space as gamblers rushed to get a taste of the new poker games at these establishments.
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· Written by Roger S · Filed Under Poker Gossip · Comments Off
