Sure Pennsylvania is an entire state and Atlantic City is just a city, but it’s meaningful in the casino business that Pennsylvania hopped over Atlantic City for #2 in gambling revenue. Of course, Las Vegas remains #1.
Pennsylvania’s 11 casinos raked in about $233.1 million in gross slot machine revenue last month, the Associated Press reports, which was a record monthly high since the state’s first casino opened in November 2006. The AP says that cements “the state’s status as the nation’s second-largest gambling market.”
This will change when Revel revenues are reported at the end of the month, but this is still meaningful. Atlantic City gaming revenue has been dropping for the past few years with no change in site.
Even with great numbers from Revel the average per casino won’t change all that much. Atlantic City has been slow to respond to increased competition in the east coast and this probably won’t do anything to change that. Unfortunately.
Maybe things will change when sports betting becomes legal but, again, there’s little to say that Atlantic City, as a whole market, will do anything to capitalize on that.