Atlantic City Casino Revenue Falls To $3.57bn In 2010

Since hitting a $5.2 billion peak in 2006, Atlantic City’s casinos have continued four years of steady decline to reach $3.57 billion of revenue in 2010.
Although last year’s 9.6% fall was below the record 13% drop in 2009, the dismal situation has left Atlantic City’s casinos struggling to survive, with 6 of the 11 casinos having had to restructure their debt or declare bankruptcy during the economic crisis.
If that wasn’t bad enough, there would seem to be little hope for improvement just yet with casino consulting firm Spectrum Gaming Group predicting more bad news for the year ahead. As Spectrum explains:
“Our projection of $3.1 billion in gaming revenue for Atlantic City in 2011 is down 40.8 percent, or a staggering $2.13 billion, from its historical peak year of 2006.”
The main reason for Atlantic City’s decline as a gambling resort has been put down mostly to the economic crisis, which has also lead many of its neighbouring state’s to seek to fill the extra gap in their budgets with increased gambling revenue. The long list of new competitors to Atlantic City now include Philadelphia, Pennsylvania, Delaware, Maryland, as well as West Virginia.
2011 is now being viewed as a pivotal year for Atlantic City as it wrestles to regain lost tax revenue from its one time thriving gambling industry.
Amongst the list of ideas to give the City a much needed boost include reduced regulations for gambling halls and allowing casinos to accept online gambling on games such as blackjack and poker.
However, the building of megaresorts and the authorisation of a tourism district around the casinos, with plenty of nongaming attractions is widely being touted as a major step towards Atlantic City evolving into a full-service resorts.
As Israel Posner, from the Lloyd D. Levenson Institute of Gaming explains:
“I think it becomes clear that those megaresorts in Atlantic City and all the retail and entertainment they offer are really a beacon for how you move forward. I think it’s going to be a pivotal year for Atlantic City, with its transformation into the type of regional gaming destination that we have all been talking about.”
Whether these list of measures will be enough to turn around Atlantic City’s ailing fortunes in 2011 should become apparent over the coming months.

Poker News
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Japan Introduces Responsible Gambling Bill
28 May 2018
Japan’s bicameral legislature, known as The National Diet, consists of an upper House of Councillors and a lower House of Representatives, with the latter having started discussing the Integrated Resorts Implementation Bill last week. Being debated is the regulatory framework required in order to set up an efficient and well functioning casino market in the
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this