AC Casinos Lost $2 Billion in Revenue Last Year

For six years now, Atlantic City's casinos have been taking a beating from gambling halls popping up in neighboring states.

Thursday, Jan 10, 2013  |  Updated 6:41 PM EDT
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Although the 12 Atlantic City casinos were down nearly nine percent in December wrapping up another down year, some people are optimistic about the future. NBC10's Ted Greenberg reports about one

NBC10 Philadelphia - Ted Greenberg

Although the 12 Atlantic City casinos were down nearly nine percent in December wrapping up another down year, some people are optimistic about the future. NBC10's Ted Greenberg reports about one "Resorts" fighting for business.

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For six years now, Atlantic City's casinos have been taking a beating from gambling halls popping up in neighboring states.

Figures due out Thursday afternoon will show just how far New Jersey's casinos fell in 2012.
 
Atlantic City's casino revenues have fallen from a high of $5.2 billion in 2006 to $3.3 billion in 2011. The 2012 figures are expected to be lower than that.
 
So far, the addition of Revel, Atlantic City's 12th casino, has not helped grow the market. It opened in April but has been stuck near the bottom of the city's casinos in terms of revenue.
 
Casinos in Pennsylvania started the decline in New Jersey in 2007, which was worsened by the national financial collapse, and an unsteady recovery.

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