Atlantic City’s losing streak: More states compete for gambling revenue & jobs

Washington Post – The billboard hard by the Atlantic City Expressway is supposed to speak for a single casino, not an entire company town. But Revel Casino Resort’s marketing slogan resonates loudly throughout this struggling seaside resort. “Gamblers Wanted,” it says. And how. Atlantic City, the erstwhile East Coast gambling mecca, is on an epic losing streak; over the past six years, competitive and economic forces have crushed the local casino economy, driving revenue down more than 40 percent. Once, the city that inspired the board game Monopoly had its own gambling monopoly on this side of the country. Now,…

Atlantic City

Atlantic City Casino Revenue Worst in 2 Decades

This year is shaping up to be the worst for the Atlantic City casino industry in the last 22 years. Figures released Wednesday by the state Division of Gaming Enforcement show the city’s 12 casinos are on a pace that would see them take in less than $3 billion from gamblers for the first time since 1991. For the first six months of the year, the casinos won $1.38 billion, down 10.7 percent from the same period last year. The casinos’ revenue fell 12.6 percent in June, to $240.2 million, and every one of the casinos posted a monthly revenue…