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Competition, expansion may spell trouble for Atlantic City casinos

While 2017 was a record year for both gaming revenue ($40 billion) and tax revenue ($9.23 billion) industrywide, “the impact of intensifying competition remained a common theme for casino operators in 2017,” according to the American Gaming Association’s State of the States 2018 survey. The AGA report showed Atlantic City was second only to the Las Vegas Strip among commercial casino markets in the United States, but the gap between second place and those behind it is starting to shrink. Atlantic City 2018 casino profits still lag last year ATLANTIC CITY — Casino operating profits and net revenue bounced back in the second quarter … In 2017, the Atlantic City gaming market reported $2.41 billion in revenue, trailing only the Strip’s $6.46 billion among U.S. markets. The third-largest market, Chicagoland, which includes portions of Illinois and Indiana, reported annual revenue of $1.97 billion. Four of the next eight largest markets — Baltimore/Washington, D.C., New York City, Philadelphia and the Poconos — are all areas Atlantic City used to draw gamblers from.

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