Tags: Atlantic-City | casino | revenue | Internet

Atlantic City Casino Revenue Drops as Christie Bets on Internet

Monday, 11 Mar 2013 05:35 PM

Atlantic City casino revenue fell more than 12 percent in February, continuing a downward spiral that New Jersey Governor Chris Christie said may end with the start of Internet-based betting, fueling the resort’s revival.

The seaside city has fallen to third-largest U.S. gambling market after Pennsylvania and Las Vegas. Casino revenue dropped 13 percent in January and was down 13 percent for the first two months of 2013 compared with the same period a year ago, according to figures from the state Gaming Enforcement Division.

“I wish it was up 13 percent, but it’s not,” Christie said at a news briefing in North Brunswick.

The first-term Republican said he is midway through his five-year turnaround strategy and it is too early to judge the result in Atlantic City. Internet-based gambling in the resort’s casinos hasn’t begun yet, he said. Christie’s proposed fiscal 2014 budget anticipates a $1.2 billion market for gambling over the Web in the first year and projects an 85 percent increase in casino tax collections.

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Atlantic City casino revenue fell more than 12 percent in February, continuing a downward spiral that New Jersey Governor Chris Christie said may end with the start of Internet-based betting.
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Monday, 11 Mar 2013 05:35 PM
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