Despite Bad Report On Gaming Revenue In AC, Experts Suggest The Trend Should Turn Around In Year Ahead
By David Madden
ATLANTIC CITY (CBS) -- Atlantic City's casinos made less money again in the year gone by, according to figures released this week by the state of New Jersey. But analysts suggest changes forced on the industry might actually turn that trend around.
Revenues in the industry have been cut in half over the last eight years. Of course, by the end of 2014, there were fewer places to bet, a necessary move as seen by analyst Roger Gros at Global Gaming Business magazine.
"Losing four casinos wasn't a good thing in terms of jobs and things like that, but it was a good thing for the remaining casinos because it spread out the market. We had too much capacity in the market. Now it's kind of right-sized itself."
Although, maybe not completely. Gros suggests one more casino may go, perhaps Bally's, the worst performer of the eight still standing. If you take the closed facilities out of the report, the remaining casinos saw revenue actually increase nearly 8 percent thanks, in part, to newly approved internet gaming in the state.
