Atlantic City Gambling Industry Incurs Huge Losses and Counting

Atlantic City the once high roller Mecca of the East Coast has taken the world of casinos by surprise as it slowly and surely began to deteriorate and sink over the past few years. Main attractions like Trump Plaza, The Revel, and The Showboat have shut their doors and closed down for good.

casino ACIn 2006 neighboring state Pennsylvania granted lease and license to a number of casinos within its boundaries. In addition, the impacts of economic recession have had disastrous effects on economic revenue in Atlantic City.

Competitive industry

New Jersey has been in the casino industry for decades with the first ever casino in the state was opened in 1978 along the coast in Atlantic City. With a remarkable history of over $2.80 billion generated in revenue earned from casino games set in its records, New Jersey has been premium holiday destination that has catered to footfall of over 27 million visitors and tourists a year.

Gambling has been of crucial importance in terms of state economy, with a majority of jobs and positions oriented around the casino industry alone. As more casinos opened up in neighboring states like Delaware, New York, Pennsylvania, and Maryland, regular players and frequenters of casinos in Atlantic City preferred to stick to casinos located closer to their homes rather than travel distances to find a legal casino table or slot machine.

Same ‘ole AC?

Completely dependent and reliant on gaming revenues to sustain and thrive, Atlantic City is now suffering as residents face increasing unemployment caused by the crumbling casino industry.

Instead of taking advantage of its coastal features, Atlantic City has so far focused mainly on gambling market to survive. Neighboring states on the other hand have molded and diversified to offer indigenous entertainment attractions to keep people interested and eager to visit.

Atlantic City has started working on the frills as well spaces that offer complete family entertainment in aquariums, restaurants, shops and picnic spots in addition to the ever infamous boardwalk and marina. Even though the casino market has hit a speed bump, Atlantic City is beginning to reinvent itself as a more wholesome holiday destination. Moreover, the city is looking for people to come live in and utilize the immense expanses of available land to set up homes and businesses of their own.