Paying Bills leaves Atlantic City Struggling
30th December, 2008
Its 3.45 in the morning at Caesar’s casino, in Atlantic City. Looking around the place, the number of punters is low. Only the hardcore players remain, only a select few are gambling away. One of these being, Jimmy Panagiotou, the professional gambler wearing his World Series Poker cap and jacket.
While he drinks his coffee and has hid ciggy break you can see him reminiscing about how it used to be.
Regulators reported earlier this month that gambling earnings where down again for the second year, after 28 years of growth.
The first 11 months of 2008 proceeds from casino gaming fell by 6.7percent after last years 5.7 fall. Panagiotou attributes these falls in revenue to the decline in player activity, a direct result of people having to pay bills and not having the money to gamble anymore.
This lack of players can easily be seen, on billboards entering Atlantic City. Where table games are being advertised for $10 which used to be advertised for $25.
Experts believe this maybe the result of Atlantic City hitting its peak and the future does hold anything special.
By Rommon
