Land-Based Casino Report: Vegas and Pennsylvania Up, AC Down
The sands of the US land-based casino industry are ever-shifting as new markets emerge and player habits change. In recent months, that’s meant that casino revenues are up in Las Vegas and Pennsylvania, while Atlantic City continues bleed.
Here’s a quick look at what’s happening in America’s three biggest gambling markets.
Las Vegas Rising
Las Vegas is America’s original regulated gambling market and a great indicator of how the business is doing overall.
Recently, Vegas has been experiencing a strange phenomenon. While they’ve still got plenty of visitors, fewer of those visitors are there to gamble, just 12% in fact, according to the CBS Las Vegas.
But while fewer folks are coming to gamble, February 2016 casino revenue in Nevada was up 8% across the state and 7% on the Vegas Strip.
Apparently once you’re in Nevada, it’s very tough to avoid gambling.
While the Keystone State has emerged as one of America’s most robust gaming markets, but it’s still got a ways to go before it catches up with Vegas. Regardless, things are going very well in Pennsylvania.
In March 2016, casino revenues across the state topped $211 million in March 2016. That represents a gain of 1.6% over the previous year.
Atlantic City Bloodbath
While the eight remaining Atlantic City casinos collectively benefited from the absence of the four casinos that shut down last year, life in AC is still pretty grim.
Last month Atlantic City’s casinos pulled in a mere $187.5 million, that’s down 1.7% form the previous year.
There’s not much in the way of good news heading towards AC as the city itself is nearly bankrupt and will be cutting essential services in the months ahead. The only hope for AC rests on a bailout from NJ Governor Chris Christie, and that’s not likely to happen.