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Atlantic City Casino Revenue Declines 8 Percent in 2012
January 11, 2013 : ATLANTIC CITY CASINOS CONTINUE TO BATTLE
Dismal 2012 revenues
Atlantic City’s 12 embattled land casinos took in $3.05 billion in 2012, an 8 percent decline over 2011’s tally and a 41 percent decline from a peak of $5.2 billion back in 2006.
The figures were released Thursday by the New Jersey Division of Gaming Enforcement, which reported that in December Atlantic City casinos suffered an 8.9 percent decline from the previous month, with revenues dropping to $223.5 million.
The continued decline is the sixth consecutive year of diminishing returns, with 2012 annual revenues less than the monthly earnings of the booming Macau land gambling operations in December, which topped $3.53 billion .
Extremes of weather like Hurricane Sandy, along with fierce competition from casinos in the neighbouring state of Pennsylvania have been cited as contributors to the dismal performance in 2012, with Sandy reportedly responsible for AC’s single largest monthly revenue decline (27.9 percent) in November.
The Atlantic City casino industry paid $15.7 million in taxes on gross revenues.
Competition may increase if New York Governor Andrew Cuomo is successful in his legislative proposal to approve the building of three new casinos in upstate New York cities.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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