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Pennsylvania Gaming Decision Affects Casino Gaming Industry in Atlantic City
The casino industry in Atlantic City is already in the danger of falling apart and now they have a new problem to address.
Pennsylvania legislators have finalized a legislation to legalized casino table games in the state's casino facilities. This could end up seriously affecting Atlantic City casinos that cannot afford to face anymore problems.
With the casino facilities still experiencing double digit revenue declines on a monthly basis, more gaming competition is the last thing that they need. Gaming Analyst Steve Schwartz said on January 11th, 2010 that the decision of Pennsylvania officials could completely shift the balance of gambling power in the casino market in the northeast.
Schwartz said that AC players are ripe for the picking and it seem that all neighboring states of New Jersey are going after this particular market. Last year, Connecticut tribal casino facilities that are competing for gamers in the state, collaborated to lure customers away from the AC.
The two major casinos place billboard advertisements along the New Jersey Turnpike, encouraging players to drive north to Connecticut. Add to that fact that the ACES transportation plan was a complete disaster and increase gaming options in New York and the AC casino market has withstood about as much as it can take without going down.
Casino developers who have a fascination with Atlantic City have vowed to help AC and the casino industry rebound but that has not happened as of yet. Several casino facilities have gone into bankruptcy while others have to cut down jobs in order to stay afloat.
It may not cause the death of the Atlantic City Casino industry, but Pennsylvania legislators dealt Atlantic City a significant blow. The AC gaming industry must now get up from the mat and think of something of they want to remain relevant in the US gaming industry in the future.
14 February 2010
News Submitted by:
Lauren Desmond
