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The nation’s two largest gambling meccas are reporting their worst revenue decline in history.
Las Vegas Strip gambling revenue fell 11 percent in July, this marks the 19th straight month of decline, while Atlantic City’s proceeds dropped 16 percent in August.
According to the Nevada Gaming Control Board, casino proceeds on the Strip dropped to $461.3 million in July. The New Jersey Casino Control Commission said that gambling proceeds in the New Jersey seaside city have dropped to $391.7 million.
In Vegas, even as casinos have slashed room prices and increased special offers in response to company conference cancellations and betting declines, Strip gambling has fallen by an average of more than 10 percent in every month since September 2008.
Out east, Atlantic City is not done any better. Revenue from tables in their 11 casinos declined 20 percent to $115.6 million. Slot machines fell 15 percent to $276.1 million. Gambling revenue declined at all 11 casino properties last month.
In May, Las Vegas Sands opened a casino in Bethlehem, Pennsylvania, diverting gamblers from Atlantic City.
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