New Jersey Assembly members held a hearing this week looking at a potential state tax revenue shortfall, but there’s some debate over the motivation behind the hearing.
Atlantic City casinos continue to lose ground in terms of revenue, despite the addition of the Revel Casino to the boardwalk. That’s according to revenue reports released Monday by the Division of Gaming Enforcement.
After a flood of TV advertising and a two-month preview period aimed more at working out glitches than showing off its full capabilities, Atlantic City’s newest casino resort is fully unpacked — and eager to show it can be a big moneymaker.
Revel CEO Kevin DeSanctis told The Associated Press the $2.4 billion resort began a preview period aimed more at testing out systems than generating revenue.
The Pennsylvania Gaming Control Board says the state set an all-time high for gross revenue from slot machines in March.
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.