Atlantic City In Perilous Position

May 22, 2009 - Written by Glen

It is widely known by gambling fans that Atlantic City has been in a sharp decline, but the fall may be irreparable to some casinos. The industry has been reduced to near dust, and recovery could be a fading hope. For some casinos, bankruptcy may be closer in the future than expected.

Revenues for quarter one of 2009 were released. The figures were nowhere near where they needed to be for the industry to keep moving forward, or even to remain still. Overall, at the eleven casinos in the state, revenues have been down forty percent. Things would not be as bad if it were just one or two casinos, but every casino in Atlantic City has begun a nose dive. Worse still, the situation seems to be exacerbating itself.

Since surrounding states, such as Pennsylvania and New York, have been increasing casino gambling options, residents of those states have ceased to flock to Atlantic City. This puts a general strain on the economy of Atlantic City in general, not just the Casinos. "As the casinos suffer, we suffer too," said a local business owner.

Hotels are remaining empty as well in Atlantic City. Even when given free rooms, players are deciding to stay out of those hotels. If earnings continue to drop, the city could end up a ghost town.