AC is trying to adjust its economy now that New Jersey decided to maintain the casino monopoly there.
US.- Atlantic City went through another rough month in October with a slight decline in its casino revenue. The gaming city, which used to be one of the biggest hubs in the States, is facing an economic crisis that led to the closure of casinos. October’s casino revenues fell 1 percent in comparison with last year’s results.
Although the report is better than expected, casino industry in Atlantic City is proposing several projects to boost the sector. As Trump Taj Mahal casino was shut down on October 10, results change when the venue is not taking into account. Among the seven casinos that still remain in the city, the revenue total shows a 5.9 percent of increment.
According to Matt Levinson, chairman of the New Jersey Casino Control Commission, said: “For the year, the seven operating casinos are up by 3.1 percent.” And he added, “I anticipate the operators will continue to focus on improving their business in Atlantic City.” Golden Nugget perceived the largest increment in October, reaching closing up 16.7 percent toUS$20.6 million. The Tropicana was also up 13.5 percent to US$27.9 million.
On the other hand, Resorts casino showed a drop off 3.5 percent to US$14.2 million, whilst Bally’s noted a decline of 2.9 percent to US$16.5 million. Both businessmen and operators are calculating if the New Jersey resolution to prohibit casino expansion in the rest of the State would benefit the current situation in Atlantic City.