Atlantic City casinos have experienced about every possible problem when it comes to gambling revenue over the past three years. First it was the
Revenue figures were released for the month of January, and again the news was not good for casinos in New Jersey. Revenue dropped to $255.4 million in January, that represented a decrease of 13.2% over the same period the previous year.
January is not known for producing high revenue figures for casinos throughout the US. Gamblers tend to use January as the month they catch up on their bills from the holidays, and that does not leave much extra spending money for gambling.
This year, the weather has played a major part in the declining revenue figures. All over the country, the weather has caused problems this winter. Snow storms have pummeled the East Coast, and gamblers have been unable to travel to the casinos for much of January, even if they had the funds to do so.
Slot gambling took the biggest hit at AC casinos in January. Slot revenue was down 15.6%, to $164.9 million. Table game revenue dropped to $90.5 million, down 8.3%. All eleven casinos in Atlantic City saw their revenue decline in the first month of the year.
Governor Chris Christie has signed legislation that he hopes will help revive the gaming industry in New Jersey. Lawmakers in the state have also passed a bill that would regulate online casinos. If Christie signs the legislation, it could pump hundreds of millions of dollars into AC casinos.
February 11, 2011
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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