Saturday, April 12, 2008
Atlantic City's Gambling Decline
Since legal casinos opened in Atlantic City in the late 1970s, gambling revenues went up every year -- until 2007. The decline continued through the first three months of 2008, with a 6.4% drop relative to the same period last year. In March, all 11 Atlantic City casinos reported lower gambling earnings than in March 2007. Part of the problem is surely the recent legalization and proliferation of slot machines in neighboring Pennsylvania -- though table game revenue is down, too, in Atlantic City, despite no direct competition on that score from the Keystone State.