The economic crash in Atlantic City has seemed to bottom out at least for the casinos, as revenues for the rest of the gambling resorts are 3.1 % greater than they certainly were at this time final year.
Atlantic City casinos might have finally weathered the storm and started to stabilize the gambling industry for the eight resorts that are remaining. After 10 years of declining revenues due to America’s Great Recession and neighboring states pushing gambling legislation in response to abating tax bases, Atlantic City has did actually reach a new norm.
Significantly less than two years after one-fourth of its casinos went out of company, profits for Atlantic City reduced only marginally in March. The area’s casino win totaled $187,463,591 for a 1.7 percent loss, though when Web gambling is included Atlantic City dropped simply 0.4 percent.
Traditional table video gaming was the worst performer in March as casinos reported a 5.9 percent drop on supposedly higher win rates. The decline was offset by online gaming, which rose an astonishing 17.8 per cent during the thirty days.
Calm After the Storm
Though the municipality in Atlantic City is broke and currently engaged in a bitter debate with Governor Chris Christie (R) and State Senate President Stephen Sweeney (D) over who is best to manage the city’s data recovery, 2016 is off to a great begin for the casinos.
Gambling wins in January, Febru Read more