Pennsylvania Proves To Be Big Foe For Atlantic City Casinos [AUDIO]
A mere two years after getting table games, Pennsylvania casinos are seeing their revenues soar, and that has to make Atlantic City even more nervous.
Games such as poker and blackjack saw a revenue increase at Keystone State gaming halls of more than 29 percent in one year. Meanwhile, Atlantic City has seen a constant parade of lower revenue numbers. Joel Weinert of, "Gaming Industry Observer" says Atlantic City will never be a 5.2-billion dollar gambling market again. But he points out that right now, it is in the low Three-Billion dollar range, which is still an enormous amount of gaming revenue.
But in Atlantic City's defense, Weinert says they are looking at alternatives to gambling. He says there are other ways to give people ways to spend their money.
The brand new Revel is often cited as a prime example of the, "new Atlantic City." Revel's CEO, Kevin DeSanctis argues that Revel is operating on a new business model. They are shooting for customers to spend more money for rooms and to eat at restaurants. But even De Sanctis concedes Revel needs to increase its gambling revenue.
Weinert says Atlantic City is no longer the most convenient gambling destination, but can be reborn as a regional getaway destination.