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Atlantic City Showing 35 Percent Gambling Decline
Tuesday April 8,2014 : ATLANTIC CITY'S WOES WORSENED IN 2013
New official numbers show a 35 percent decline in gambling profits.
Official numbers just released show that Atlantic City's fortunes continued to wane last year, with gross operating profits down by almost 35 percent on 2012.
Associated Press reports that Atlantic City casinos posted a collective gross operating profit of $235 million, down from $360 million in 2012.
Things were a little better in the fourth quarter, when the casinos reduced their gross operating losses by more than 73 percent, to a loss of $5.7 million in the last three months of the year. That was compared with a loss of $21.6 million in the same period of 2012, when New Jersey was badly impacted by Superstorm Sandy.
Competition from neighbouring states and the economic climate have all contributed to Atlantic City's decline in recent years, costing thousands of jobs and billions in corporate losses.
The region has only another two-and-a-half years before Governor Chris Christie carries out his threat to consider the expansion of gaming to other parts of the state of New Jersey.
Only two of Atlantic City’s land casinos were able to boast improvements in gross operating profit: the Tropicana Casino and Resort increased earnings by more than 47 percent to $26.5 million, whilst the Borgata Hotel Casino & Spa saw a more moderate improvement of just 2 percent in profit to $121.6 million for the year.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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