Even the Governor of New Jersey, Chris Christie, flat out said Atlantic City is dying, and he did so in front of Boardwalk Hall in Atlantic City! Over the past decade Atlantic City has lost a bit of its sparkle. The big casino resorts started to show their age and the Boardwalk was only had a faint shadow of its formal glory. Then the recession hit. Clearly, the economic downturn was bad for the whole of the United States, but Atlantic City didn’t need any help. Over the past two years Atlantic City has seen near record low numbers in visitors, hotel and casino revenues, and profits (if there were any).

With 2010 a new decade rolled in, and that was not a good sign for Atlantic City. To help fill budget gaps many states turned toward their gambling laws. Expanding these laws was proposed to help generate revenue. In some states, they were successful. The problem for Atlantic City is, they are neighboring states, and some of the towns biggest feeder markets.

Pennsylvania added table games to their casinos. Lawmakers and casino operators did this because they were tired of having their customers spend their money in (you guessed it) Atlantic City. So far, so good. Pennsylvanian casinos have earned very close to $17.5 million from table games, and they have only been open since mid July. Delaware is also looking at adding table games to their racinos. Then there is New York City. In a few years they could have a slots parlor in Queens which would all but drain the Atlantic City casino market.

“In our opinion, Atlantic City revenues will continue to be cannibalized by Delaware and Pennsylvania as table games continue to be added and revenues at the properties continue to ramp up,” comments Union Gaming Group principal, Bill Lerner. Atlantic City will still be able to boast the glitziest casino resorts in the East, but for how much longer.

Tags: casino, gambling, online