NEW YORK (CBSNewYork) – Atlantic City has lost its standing as the nation’s second-largest gambling market.
Buoyed by rising revenues, Pennsylvania’s 11 casinos have taken over the number two spot, behind Las Vegas.
The Press of Atlantic City reporter Hoa Nguyen said the slide to third isn’t much of a surprise because Atlantic City’s casinos have seen dwindling revenues since 2006.
“It’s a known fact that more competition is putting pressure on Atlantic City and some of the casino executives will say Sandy didn’t help that,” Nguyen told WCBS 880′s Wayne Cabot.
Nguyen also noted that many people think Atlantic City was decimated by superstorm Sandy, which is not the case.
“The boardwalk is completely fine,” she told Cabot.
Last week, Atlantic City reported its annual revenues at just over $3 billion. Pennsylvania’s slots and table games brought in $3.16 billion in gross revenue in 2012, according to the state’s Gaming Control Board.
“I think that there is a recognition that the levels of gambling revenue that Atlantic City saw in 2006 and before that are definitely never going to come back and that’s really as a result to competition,” Nguyen told Cabot.
In addition to Pennsylvania, there is also increased competition for gambling revenues from casinos in Ohio, New York and other neighboring states in the east.
A poll released Thursday from the Atlantic City Alliance found 25 percent of respondents wrongly think the Atlantic City boardwalk was destroyed by superstorm Sandy.
Just a two-block portion of the boardwalk that was already slated for demolition washed away from Sandy’s surge. The remainder of the boardwalk was left unscathed.
Since Sandy, tourism and casino officials have launched marketing campaigns and events to let the public know that the boardwalk is open and unharmed.
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