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Atlantic City Survived New Jersey Economic Shutdown

A budget impasse in the American state of New Jersey didn?t seem to harm the intake of Atlantic City casinos this month, despite a shutdown of the government in that state which also forced Atlantic City casinos to shut down for three days. The amount of money that Atlantic City casinos earned in June 2006 totaled at $428.1 million, which is actually 5.9 percent more than they won during the same month in 2005. Atlantic City is trying to turn itself into the East Coast?s version of Las Vegas, adding hotel rooms, dining establishments, and shopping opportunities.

Slot machine revenues for Atlantic City casinos rose 3.7 percent, to $318.7 million, while table game winnings (such as poker, blackjack, etc.) rose 12.8 percent to 109.3 million. Atlantic City is the second-largest gambling market in the United States after Nevada, with twelve casinos responsible for the millions being taken in. During the first six months of 2006, Atlantic City casinos took in a whopping $2.5 billion.

Of the $428.1 million dollars won by casinos in Atlantic City, $34 million were paid out in taxes to the government. The budget agreement problems in New Jersey mirrored those sometimes seen at the federal level in Washington, D.C., where the government will shut down and all but essential services will be unavailable until some sort of accord is reached.