Are You Ready To Learn All You Need To Know About Atlantic City’s Casinos? While real money gambling is legal at least by the Federal law, different states in the US have been given the authority to regulate further how betting is done in their respective states. That is why it is easy to find different laws governing how gaming should be done in various US states.
Atlantic City, in the US State of New Jersey, is one such a place where gambling has taken a toll.
With at least seven casino floors that make up Atlantic City casinos have generated lots of money for the state with a record of receiving more than 24 million people each year, who come in to spend billions of dollars.
This money comes in through dining at Atlantic City’s modern restaurants and eateries. Money also comes in through spending several nights at the city’s nicely painted hotels, playing several games in various New Jersey casinos within the city and accessing different services from several social amenities and attractions in the City.
Apart from gambling in Atlantic City, other things that bring in money to the city and the state are several action-packed sporting events that take place in the city, bars, and restaurants that operate 24/7, public shows that include powerboats, sailboats, classic cars, collectibles as well as several antiques.
Gambling became legal in Atlantic City in 1976. This is after several efforts to legalize it earlier failed. To that effect, Resorts International Casino in Atlantic City went in history to be first gaming floor to be opened to the public in 1978.
It would have taken many years to establish a casino, but the developer of Resorts International looked for ingenious means, which worked in his favor when rather than starting a structure from scratch, he bought already standing structures, renovated them to become Resorts International, beating his competitors.
Although Atlantic City has many gambling facilities, other players in the industry from within the US and beyond have proved a hard nut to crack.
For instance, in 2006, while the city was at its peak with some 12 casinos, it recorded some $5.3 billion in total collections behind Las Vegas Nevada that had $6.7 and leaders Macau that recorded a whopping $7 billion. A lot has been happening in Atlantic City with the collection dropping from the 2006 peak of close to $5.5 billion to as low as $2.41 billion in 2015.
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Many gaming observers said that this massive drop was due to the closure of 4 gaming facilities a year earlier, a reason others dispute saying that revenue collection had started dwindling as earlier as 2010.
The year 2006 saw many changes in the gaming industry when the Pennsylvania gaming Board agreed to give licenses to 5 stand-alone casinos.
That move saw the opening up of casinos such as Sands Bethlehem that began operations in 2009, SugarHouse situated in Philadelphia that opened in 2010, and Mount Airy as well as Mohegan Sun Pocono, which continue to keep people within the Scranton area not to travel far in search of gaming.