International edition
September 25, 2021

Revenue fell for the fourth straight year in 2010

Atlantic City losing out to regional casinos

(US) - Gaming revenue at Atlantic City casinos is expected to fall 41 % in 2011 from its high in 2006, while revenue at regional casinos in eastern Pennsylvania is surging, a report by industry analysts Spectrum Gaming Group said.

C

asino patrons in the mid-Atlantic region are increasingly prizing convenience over the high concentration of full-service resort casinos found in Atlantic City, New Jersey, the county's second-biggest gambling market after Las Vegas, Spectrum's director of analysis, Shawn McCloud, said on Monday. "Residents of those areas that have previously gone to Atlantic City now have casinos much closer to their homes," he said.

Revenue at Atlantic City casinos fell for the fourth straight year in 2010, marking the first time the seaside resort represented less than half of the total market share for the mid-Atlantic region, the report said.

The region is defined as all gaming facilities within 150 driving miles of Atlantic City, including casinos in New Jersey, New York, Pennsylvania, Delaware and Maryland. The region does not include casinos in Connecticut, certain areas of New York and Pennsylvania, and elsewhere.

Atlantic City casino operators include Caesars Entertainment and Trump Entertainment Resorts, as well as Boyd Gaming Group. The report forecasts gaming revenue for the entire Mid-Atlantic region in 2011 to rise by us$ 7.3 billion, or 6.2 %, from the 2010 forecast of us$ 6.9 billion. Of that, about us$ 4.2 billion will come from the 13 casinos outside of Atlantic City, including New York's Aqueduct facility, which is due to open this year.

Pennsylvania gaming revenue will be up more than us$ 500 million over 2010, New York by us$ 188 million, Delaware by us$ 35 million and Maryland by us$ 133 million, the report said. Gaming revenue at Atlantic City casinos will decline more than 13 % in 2011 from their current level, from nearly us$ 3.6 billion to us$ 3.1 billion, the report said.

Last July, New Jersey Governor Chris Christie announced plans to seize control of Atlantic City's gaming district and create a family-friendly attraction similar to Las Vegas. But Moody's Investors Service said later that month the plan comes too late to help the city's struggling casino industry, noting that "conveniently located, state-of-the-art facilities superior in quality to New Jersey's aging casinos have recently begun operating in neighbouring states."

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