Atlantic City (A.C.) in New Jersey and the Las Vegas Strip in Nevada are the two most well-known casino gambling locations in the United States. For many years, casino operators in these two gaming markets have enjoyed success compared with other gaming markets in the US. But the past few years have been a hard one for casino facilities compared with in the past.
The economic crisis has financially crippled many casino facilities and gaming competition from other states is coming at the worst possible time. Despite the negative development, both Atlantic City and Las Vegas believe that there will be an end to their troubles.
For the state of Nevada, that solution may include a revenue boost from the brand new MGM Mirage CityCenter project. It was finished late last year and is a top destination for those interested in a complete gambling experience.
The problem for CityCenter and MGM is that a lot of people all over the world have either set aside their gaming habits or have chosen to play at a casino near their home.
Las Vegas used to be filled with Asian players but now those high-rollers have chosen to play in Macau. Atlantic City is facing a similar dilemma. The states of New York, Delaware and Maryland and Connecticut have all expanded their gaming options.
Meanwhile, Pennsylvania may have become the most dangerous gaming competitor to Atlantic City casinos. Pennsylvania legislators recently approved a legislation legalizing casino table games at casino facilities in the state. This comes at a time when casinos in Pennsylvania had bigger slot revenue in December 2009 than Atlantic City casinos for the first time in history.
Atlantic City and Las Vegas officials said on February 27th, 2010 that they firmly believe that it is a matter of when and not if their respective gaming industries will regain their formal glory. For now, the road ahead for the two gaming industries is rocky and does not appear to be normalizing soon.
03/18/2010 12:19 PM