December 9th, 2010 – by Glen Farmer
The casinos in Atlantic City have been contending with enormous revenue free falls, and a new study has shown why.
The study found that gamblers are spending less time in the casinos, as well as less money.
In the study, analysts found that players were spending 22 percent less time in the casinos. Coupled with the time decrease was reduced spending. Players are, according to the study, spending 30 less money in the casinos in Atlantic City. Perhaps the worse stat was that of the gross operating profit per hour, which was down 61 percent over the years.
A total of four years had been analyzed in the study. In the study, 2006 to 2010 were examined. Three areas of gambling revenue had been studied, including revenue per visitor per hour, total visitor hours, and gross operating profit per visitor hour.
Spectrum Gaming Group is the organization who conducted the study. Michael Pollack, the managing director of Spectrum, stated that the statistics show exactly how bad the state of affairs is in Atlantic City.
“It’s shifting toward a visitor base that is less gambling-centric, which means they’re gambling less per hour with tighter wallets,” stated Pollack. “Recessions end, and when it does, what Atlantic City needs to do is diversify their customer base.”