The Atlantic City casino industry has been ravaged by the economic recession and competition over the past several years, but February provided some hope for the city's slots revenue. The month also showed the possibilities that online casinos could bring in the future.
In February, AC casinos had slots revenue of $183.9 million.
The figures back up the claim that online gambling regulations for AC casinos would bring in hundreds of millions of dollars to the state in gaming taxes. Lawmakers understood the economics of the situation when they passed an Internet gambling bill, but Governor Chris Christie vetoed the legislation.
"Slot revenue in Atlantic City more than doubled the table game take," said Gaming Analyst Steve Schwartz. "Online gamblers are interested mainly in two areas of casinos, poker, and slots. There is little doubt at this point that New Jersey and other states are moving towards online gaming regulations."
New Jersey and the other states may be beaten to the punch by the federal government. Representative John Campbell is preparing to unveil legislation that would overturn the Unlawful Internet Gambling Enforcement Act and set up a regulated system for Internet gambling in the US.
California, Florida, and Iowa have similar bills up for discussion, but the state bills will only allow online gambling within their own jurisdiction. Nevada lawmakers may take that a step further, allowing residents of their state, and any other state where online gambling is regulated, to make wagers at online casinos licensed by Nevada.
March 12, 2011
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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