Atlantic City Casino Revenue Expected to Plummet. Again.
It’s not just the Revel. And it’s not just because gambler Don Johnson has cleaned up at every casino in town. And it’s not even just the damage done to tourism by Hurricane Sandy. The truth is: Gambling in Atlantic City has been on the wane for awhile now—revenues last year were down $2 billion from the year before. Today, we get to see the damage done in 2012, and, the Associated Press reports, “2012 figures are expected to be lower than” the year before. In related news: Philadelphia is now being touted in the national press as an “East Coast gambling hub.” Turns out there may only be so many gambling dollars to go around—and Philly’s are staying home instead of going to the shore. [NBC 10]