Revenue Drops for Atlantic City Casinos
Based on recently released figures released by the New Jersey Division of Gaming Enforcement, Atlantic City casinos look set to have collectively their lowest annual revenue for over 20 years in 2013. Each of the 12 casinos in the region announced year on year revenue declines for the month of June. Overall, their revenues fell over 12%, to just over $240 million.
Trump Plaza showed the biggest fall (of 23.6%), while the Resorts Casino Hotel escaped relatively unscathed with a drop of just 0.5%. The fall in revenue seems somewhat surprising given that it has just been reported that tourism in the area is thriving, with a noticeable increase in the number of visitors.
The Atlantic Casinos will surely be hoping that their fortunes will turn around with the planned launch of regulated online gambling in New Jersey, due for November this year. The 12 casinos are due to submit proposals for partnerships with established online gambling partners and, if the appropriate licenses are issued, they will be able to offer casino games online to residents of New Jersey before the end of the year.
New Jersey is one of a number of American states currently exploring the potential for regulated online gambling. Nevada have already issued licenses to online gambling operators and the expectation is that several more states will follow suit over the coming months and years.
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