Online Casino Transfer: News - Atlantic City Suffers

08/01/2010		Online Casino Style: News Atlantic City Suffers
Home History Games News Dictionary		It seems that the gambling city of Las Vegas, Nevada is not the only betting haven in the US to be having a difficult time this summer, as Atlantic City of New Jersey published their final numbers for the month of June, much to the tax collectors disappointment. Though the region’s 11 land-based casinos pale in comparison to the scope of gambling present in Vegas, they nonetheless constitute the second largest betting city in America, making their numbers particularly significant to online gambling analysts. Their overall revenues were down by a heavy 11 percent for the month of June, dropping to just $268.8 million for the month, compared to the previous year. According to a report by the Associated Press news agency, though other markets and regions of the country are starting to bounce back from the economic woes of 2008, gambling in New Jersey is not an industry enjoying such a luxury, as it still struggles to keep up with the flocks of gamblers heading to Nevada, as well as the ever present competition presented by online casinos. Now, sprouting casinos in adjacent states are also pulling business away from Atlantic City. Even the conservative state of Pennsylvania began offering table games last week, following closely on a similar move made in Delaware last month. But the toll on Atlantic City is already beginning to show, with some saying that the progress in neighboring cities could cost them as much as a quarter of their annual profits from table games, about $300 million a year. The Pennyslvania competition has been present since the province legalized slot parlors in 2006, the same year the Unlawful Internet Gambling Enforcement Act was passed. With table games now available, there are even fewer reasons to drive down into New Jersey to bet, as June’s numbers prove. Money made from table games dropped to $79.9 million this summer, a drop of 16.2 percent compared with last year. Slot revenue also continued to fall to $206.9 million, an additional loss of 9 percent.

08/01/2010

Online Casino Style: News
Atlantic City Suffers

It seems that the gambling city of Las Vegas, Nevada is not the only betting haven in the US to be having a difficult time this summer, as Atlantic City of New Jersey published their final numbers for the month of June, much to the tax collectors disappointment. Though the region’s 11 land-based casinos pale in comparison to the scope of gambling present in Vegas, they nonetheless constitute the second largest betting city in America, making their numbers particularly significant to online gambling analysts.

Their overall revenues were down by a heavy 11 percent for the month of June, dropping to just $268.8 million for the month, compared to the previous year. According to a report by the Associated Press news agency, though other markets and regions of the country are starting to bounce back from the economic woes of 2008, gambling in New Jersey is not an industry enjoying such a luxury, as it still struggles to keep up with the flocks of gamblers heading to Nevada, as well as the ever present competition presented by online casinos.

Now, sprouting casinos in adjacent states are also pulling business away from Atlantic City. Even the conservative state of Pennsylvania began offering table games last week, following closely on a similar move made in Delaware last month. But the toll on Atlantic City is already beginning to show, with some saying that the progress in neighboring cities could cost them as much as a quarter of their annual profits from table games, about $300 million a year.

The Pennyslvania competition has been present since the province legalized slot parlors in 2006, the same year the Unlawful Internet Gambling Enforcement Act was passed. With table games now available, there are even fewer reasons to drive down into New Jersey to bet, as June’s numbers prove. Money made from table games dropped to $79.9 million this summer, a drop of 16.2 percent compared with last year. Slot revenue also continued to fall to $206.9 million, an additional loss of 9 percent.