Atlantic City Casinos Post Revenue Gain For First Time in More Than 3-1/2 Years
- Last Updated on 13 April 2012
- By Matt Bourie
For the first time in 3.5 years, Atlantic City casinos revenues were on the upswing. In December, the country's second biggest gambling market saw a monthly revenue increase of 4.2 percent, with casinos bringing in $246.5 million.
This was the first increase in casino revenue since August of 2008.
"The positive win results are an encouraging sign of economic recovery for Atlantic City casinos," said director of the state Division of Gaming Enforcement, David Rebuck. "This is an exciting time for Atlantic City as we see more visitors enjoying the casinos and the wide-array of attractions."
Some casino executives have recently said they are sensing good business is on the way, thanks mostly to non-gambling related attractions such as popular restaurants and concerts as well as shopping and spas.
For the year, Atlantic City's casinos won $3.3 billion, down 6.9 percent from 2010. This is the fifth year in a row the city has seen declining revenue, due to competition from neighboring states and a sagging economy.