While much of the U.S. is slowly returning back from the consequences of the recession, casinos in Atlantic City continue to look steady decline of their revenues. In keeping with statistics from the brand new Jersey Casino Control Commission, the gaming industry in Atlantic City saw income for July drop five percent from last year's numbers.Only the Atlantic City Hilton and the Trump Taj Mahal were in a position to report better business this year than in 2009. Nine other casinos suffered losses from the year previous, and people figures were significantly down from 2008.
Casino operators had used the national impact of the recession as a scapegoat for far of Atlantic City's gaming trouble, but other factors continue to ravage the area's gambling business. Increased competition in neighboring states has ended New Jersey's exclusivity at the East Coast, and the benefit of online casinos continues to attract players in anticipation of the outlet of the U.S. gaming market.
Governor Christie has proposed a state takeover of the city's gambling district, however it is debatable whether New Jersey can be in a position to reverse the direction of the devastation simply through better branding and advertising.
State Senator Ray Lesniak has led the best way on several bold concepts designed to rescue Atlantic City's gaming business, including challenging the federal ban on sports betting and suggesting intrastate online gambling run by AC casinos, however the measures are opposed by powerful foes both locally and nationally.
In the meantime, New Jersey's dependable cash cow seems to have gone hooves up.
Published on August 10, 2010 by JulieWong
Read More... [Source: Casino News]
No comments:
Post a Comment