New Jersey casinos are continuing to lose their market share, and Pennsylvania’s Casinos are gaining in popularity.
New Jersey casinos are continuing to lose their market share, and Pennsylvania’s Casinos are gaining in popularity. For the first time, the amount of slot revenues in Pennsylvania casinos exceeded that of it’s New Jersey counterparts – during the month of December.[audio: 100121TMCASINO.mp3]
Pennsylvania casinos also earned 10 million more in profit than their neighbors across the river. Joseph Weinert is Senior Vice President of Spectrum Gaming Group, which monitors casinos.
Weinert: New Jersey and Pennsylvania’s are at opposite ends of a see-saw and as New Jersey’s revenues are going down, Pennsylvania’s are going up. There is a direct cause and effect to that. A lot of the former Atlantic City customers who live in Pennsylvania are choosing to gamble closer to home.
Pennsylvania topped New Jersey even without the two approved Philadelphia casinos up and running. When they open, they could eat into Atlantic City’s slot revenue even further.