NJ Gambling Revenues Drop, as Pa.'s Rises

Friday, 11 May 2012 11:19 AM

By Sandy Fitzgerald

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
Pennsylvania registered one of the largest gambling revenue increases in the nation last year, while New Jersey’s Atlantic City, once the mecca of East Coast gaming activity, reported the worst decline.
 
Citing an annual study of nationwide gambling released by the American Gaming Association, the Philadelphia Inquirer reported Thursday that Pennsylvania casinos and gambling houses pulled in $3 billion, 21 percent more than last year. About $1.5 billion of it ended up in state coffers, earmarked for property tax relief and economic development.
 
At the same time, New Jersey’s gambling revenue dropped 7 percent to $3.32 billion. But the opening of the new $2.4 billion Revel Casino in Atlantic City next year is expected to be a big draw and could put the state back on top with Nevada as a gambling powerhouse. 
 
Nationwide, revenue from gambling rose three percent in 2011 to $35.6 billion, according to the study, and the industry employed more than 339,000 people. About $7.9 billion ended up in the tax revenue coffers of states, helping some close budget gaps.
 
Despite the recession and the decision by a number of airlines to cut back flights to Las Vegas, Nevada led the way last year as the nation’s largest gambling market. It’s gaming revenue rose 2.9 percent in 2011, and despite flight cutbacks, the state saw an increase of 1 million visitors to casinos.
 

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Passengers Push Plane on Icy Russian Runway (With Help of a Tractor)

Wednesday, 26 Nov 2014 20:45 PM

Passengers on a Russian plane got off to push the aircraft to help get it on the runway after it began slipping on ice i . . .

Bernie Tiede, Convicted Murderer Mortician, to Get New Sentencing

Wednesday, 26 Nov 2014 17:39 PM

Bernie Tiede, the mortician who was convicted of killing his companion Marjorie Nugent in 1996, will receive a new sente . . .

Chrysler Pentastar Logo Getting Phased Out With FCA Formation

Wednesday, 26 Nov 2014 15:51 PM

Chrysler's iconic Pentastar logo is being phased out as the company introduces a new logo in keeping with the newly form . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved