January 11th, 2011 – by Glen Farmer
Atlantic City has long been the second largest gambling hub, but they have proven to be the biggest loser of all the casinos in the United States. Atlantic City’s gambling industry has once again failed to make positive numbers for their year.
Moving into the fourth year of fail, Atlantic City’s casinos have dealt with a 9.6 percent decline in overall revenue through the year of 2010. The figures were released on Monday by the New Jersey Casino Control Commission, showing that the 11 casinos in the second largest gambling market in the United States have dropped to $3.6 billion dollars over the previous year. For a point of reference, $5.2 billion was generated in 2006 when the four year losing streak began.
If Atlantic City continues to decline, it is likely that Pennsylvania will overtake the New Jersey gambling scene in terms of revenue. Pennsylvania and other surrounding states have been a direct contribution to the financial hardship experienced by Atlantic City.
Every casino in the region has fallen, according to reports issued by the New Jersey Casino Control Commission. Resorts Atlantic City was down a total of 19 percent, while the Tropicana Casino had experienced the least decline. The Tropicana Casino dropped only 4.2 percent. Each number is relative, however, as these declines are a decline of a decline.
Slots have dropped only 9 percent for the year, while table games dropped only 10.9 percent.