ATLANTIC CITY, N.J. (AP) -- Revenue at Atlantic City's casinos fell 8 percent in 2012, to just over $3 billion. It was the sixth straight annual decline.
The all-time high for Atlantic City came in 2006, when the casinos raked in $5.2 billion.
So far, the addition of Revel, Atlantic City's 12th casino, has not helped grow the market. It opened in April but has been stuck near the bottom of the city's casinos in terms of revenue.
Casinos in Pennsylvania triggered the decline in New Jersey in 2007. It was worsened by the national financial collapse and an unsteady recovery.
December revenue figures showed a slow rebound from Superstorm Sandy. The casinos won $223.5 million for the month, a decline of nearly 9 percent from December 2011. But it was a great improvement from November, which saw the biggest monthly decline ever.
Sunday, May 19 2013 6:53 PM EDT2013-05-19 22:53:31 GMT
Some lucky person walked into a Publix supermarket in suburban Florida over the past few days and bought a ticket now worth an estimated $590.5 million — the highest Powerball jackpot in history.
Some lucky person walked into a Publix supermarket in suburban Florida over the past few days and bought a ticket now worth an estimated $590.5 million — the highest Powerball jackpot in history.
Friday, May 17 2013 8:53 PM EDT2013-05-18 00:53:52 GMT
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
Friday, May 17 2013 11:36 AM EDT2013-05-17 15:36:32 GMT
The small glass bottle filled, and refilled, with golden olive oil has long been a staple on many restaurant tables across Europe. Now, the European Union is going to ban it.
The small glass bottle filled, and refilled, with golden olive oil has long been a staple on many restaurant tables across Europe. Now, the European Union is going to ban it.
Friday, May 17 2013 11:04 AM EDT2013-05-17 15:04:49 GMT
(AP Photo/Charles Dharapak)
The Treasury Department's top investigator for tax matters is telling Congress that he is still investigating whether outside political pressure caused the Internal Revenue Service to improperly target conservative groups.
The Treasury Department's top investigator for tax matters is telling Congress that he is still investigating whether outside political pressure caused the Internal Revenue Service to improperly target conservative groups seeking tax-exempt status.
Friday, May 17 2013 6:46 AM EDT2013-05-17 10:46:58 GMT
The numbers sum up the frenzy that has taken over the Golden State since it joined the madness over Powerball, which has seen its jackpot soar to $550 million for Saturday's drawing.
The numbers sum up the frenzy that has taken over the Golden State since it joined the madness over Powerball, which has seen its jackpot soar to $550 million for Saturday's drawing.
Thursday, May 16 2013 2:49 PM EDT2013-05-16 18:49:22 GMT
Powerball's estimated jackpot has soared to $550 Million dollars for Saturday's drawing after none of the tickets sold for the Powerball game Wednesday evening matched all six numbers drawn.
Powerball's estimated jackpot has soared to $550 Million dollars for Saturday's drawing after none of the tickets sold for the Powerball game Wednesday evening matched all six numbers drawn.
Thursday, May 16 2013 1:40 PM EDT2013-05-16 17:40:30 GMT
A proposal to build a major Long Island casino with video slot machines is part of closed-door negotiations to expand casino gambling in New York.
A proposal to build a major Long Island casino with video slot machines is part of closed-door negotiations to expand casino gambling in New York, according to the head of the Nassau County Off-Track Betting Corp. and a legislative bill.
Thursday, May 16 2013 9:15 AM EDT2013-05-16 13:15:24 GMT
The Justice Department is opening a criminal investigation of the Internal Revenue Service.
The Justice Department is opening a criminal investigation of the Internal Revenue Service just as another probe concludes that lax management enabled agents to improperly target tea party groups for extra scrutiny when they applied for tax exempt status.
© AP
