Casino Revenues Slow in Macau/ Internet Gambling Expands in the U.S.

Major casino resort cities face daunting competition from online gambling and, in the U.S., from a wide variety of Indian reservation casinos and local or regional casinos based on riverboats and land venues. While Las Vegas bounced back relatively well from the recession of the late 2000s (with 2015 casino revenue remaining relatively steady in 2015 at an estimated $6 billion), its competing city on the East Coast, Atlantic City, New Jersey, has fared poorly, with many of its major casinos recently closing or taking bankruptcy. By one count, gross casino revenues in Atlantic City declined by more than 50% from 2006 through 2015. Revenues for 2015 were $2.56 billion, down 6.5% from 2014. Adding insult to injury, New Jersey lawmakers introduced a bill in early 2016 that would expand casino gambling in the northern part of the state.

Elsewhere in the U.S., a number of casinos are closing their doors due to oversaturation. The Harrah’s casino in Tunica, Mississippi closed in June 2014, while the Atlantic Club Casino Hotel was shuttered in January. Since 1988, the number of U.S. states with casino gambling has risen from two to 39, and gaming revenue in several states is not proving as lucrative as voters had hoped. In Ohio, for example, gaming revenue was expected to generate $1.42 billion per year when voters approved four casinos in 2009, but 2013’s revenue was only $821 million, with underperformance continuing through 2015. Despite these problems, a plethora of new, Las Vegas-style resorts are under construction and slated to open over the near- to mid-term in various American locales.

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Casino Revenues Slow in Macau/ Internet Gambling Expands in the U.S., Business and Industry Trends Analysis

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