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Atlantic City Revenue Expected to Drop Again in 2011 as Neighbors Cash In

Casino revenue in Atlantic City is expected to drop again in 2011 (Image: Wikimedia)

A new report from The Spectrum Gaming Group is predicting a 13 percent decrease in revenue for Atlantic City casinos in 2011.

 

The nation’s second-largest casino market continues to shrink as new casinos in neighboring states thrive.

 

While casino revenue in New Jersey has fallen sharply since 2008, casinos in neighboring states like Pennsylvania and New York have been cashing in.

 

Casinos there are expecting a 27 percent revenue boost in 2011, according to the report.

 

A major reason for the revenue disparity is that new casinos continue to spring up in neighboring states while no new projects are on the horizon for Atlantic City.

 

The new report is just the latest in a series of bad news for the gaming capital of the East, which could see a staggering 41 percent drop in revenue since 2008 by year’s end.

 

Source: AP

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