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Following several difficult months, Atlantic City’s casinos look set to report strong revenues over the coming year, financial experts have predicted.
Fortunately for the New Jersey city, no more gambling venues are scheduled to open in any of its rival East Coast states in 2008, though it will continue to be hit by the booming gaming industry there, particularly in eastern Pennsylvania, where new resorts are scheduled to open in 2009 and 2010.
According to new figures released by the independent research firm Spectrum Gaming Group, Atlantic City will generate $4.99 billion in gross gaming revenue in 2008, a two per cent improvement on the 2007 total.
However, Harvey B Perkins, Spectrum senior vice president for analysis, warned: "Within that forecasted increase, there are powerful forces dampening our projections.
"These range from continued competition from Pennsylvania casinos to a tightened smoking ban at Atlantic City casinos to declining consumer confidence of their finances."
Sands Bethworks in Bethlehem and Sugarhouse in Philadelphia are set to be the next rivals to Atlantic City’s casinos when they open in around 18 months time.
