Atlantic City’s casino gambling revenue fell 13 percent in January, extending four years of decline at the New Jersey seaside resort beset by competition from nearby states.
Betting proceeds shrank to $255.4 million, the
Gambling in the second-biggest U.S. casino market after Las Vegas has tumbled to $3.57 billion in 2010 from a peak of $5.2 billion in 2006 -- before Pennsylvania and Yonkers, New York, allowed slot machines. Competition also has come online in Delaware, Maryland and West Virginia.
Six of Atlantic City’s casinos went through bankruptcy or restructured debt during the financial crisis, and development has stalled. New York City is adding its first slots at a racetrack in Queens this year, intensifying competition in the region.
New Jersey Governor Chris Christie is overhauling regulators and creating a tourism district around the casinos to help halt the marketwide decline, which is hurting tax revenue.
To contact the reporter on this story: Beth Jinks in New York at This e-mail address is being protected from spambots. You need JavaScript enabled to view it
To contact the editor responsible for this story: Anthony Palazzo at This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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