To get excited about a loss may sound crazy, but September’s drop of .6 percent has analysts like Joe Weinert at the Spectrum Gaming Group feeling cautiously optimistic about Atlantic City’s casinos.
Online gambling within New Jersey is being offered up again as a method to save two industries and provide badly needed revenue to the state.
The final numbers are in for March, and Pennsylvania’s revenue collections remain on target for the fiscal year that ends June 30th.
In a time when many municipalities are facing layoffs, one south Jersey town is surviving thanks to money being generated from what was initially intended as a safety measure.
This time last year, Atlantic City’s 11 casinos had just completed their third straight rotten year, with revenue and market share plunging and no end in sight. A year later, the numbers are even worse.
Over 1,300 members large and small are seeing their own ledgers improving with 31% reporting higher revenues this year prompting higher profits, spending and hiring.
Atlantic City’s casinos took in 12.3 percent less from gamblers in October than they did a year ago.