The casino gaming industry in Atlantic City was supposed to be experiencing a slight increase in their gambling earnings by this period.
After a few years of dealing with the problems caused by the economic crisis, gaming analysts are hoping that the revenues of casino facilities in Atlantic City (AC) will begin to improve again.
But on May 10th, 2011, Tuesday, casino facilities in New Jersey received a harsh dose of reality that their nightmare is now yet over.
Atlantic City casino earnings dropped by 7.1% to $289.4 million dollars. The drop in casino earnings was the result of not only from economic crisis but also increased in gaming competition from adjacent states.
The continued revenue losses have caused workers in the city to lose their jobs. Officials of the Borgata Hotel Casino and Spa recently announced that they will be laying off 50 casino table game employees. The job cuts are the result of players traveling to Maryland, Pennsylvania, Maine and New York to play instead of staying in casinos in New Jersey.
Legislators have tried to come up with different ways to entice customers back to Atlantic City but so far they have been unsuccessful. Borgata Hotel Casino and Spa officials said that the job layoffs are the results of the economic crisis. Officials said that the job layoffs only represent less than 1% of their total workforce at the facility.
Legislators in Pennsylvania approved casino table games in January 2010. Casinos in the state started offering casino tables by the summer of 2010. Gaming analysts have estimated that by the end of 2012, the state of Pennsylvania will surpass New Jersey as the premier gambling capital in the US East Coast.