With the US economy in a full-blown recession, can Atlantic City and its casinos survive through the economic downturn? Atlantic City casinos make money by beating anxious tourists at the card-table, but now the casinos are playing a game with the free-market that could lead to their demise.
As you know, the economic figures released early this week prove the US is in a recession. With 2 straight quarters of negative growth, Americans are being careful with every dime.
As we reported earlier, Atlantic City All-Star Donald Trump is seeing the biggest slowdown in his casino business ever. The companies’ stock is trading for just pennies.
In addition to the economic crunch, Atlantic City is hurting by increased competition from casinos located in Pennsylvania state. Players no longer have to drive out to AC to play their favorite casino gambling games.
According to gaming analyst Bill Burke, “I think Atlantic City will survive the recession, but don’t expect them to do it via bailout”.
“Atlantic City will find a way out of this recession – they will do it on their own”, he went on to say.
With Americans cutting back on excessive spending, the casinos in Atlantic City will need to find a creative way to attract high-roller players if they wish to ‘weather the storm’.
An Online Casino Ban Could Hurt Future of Casinos in America
The conclusion of this year’s Global Gaming Expo held in Las Vegas, Nevada had spectators and industry insiders buzzing about the future of the industry. It appears that the future of casino gaming is leading towards server based technology that will allow players to play more than just one slot on the same machine.
If online casinos were to be banned in the United States, this function of brick and mortar casinos would be problematic, to say the least. Technically, these servers may be construed as ‘online’, therefore they may be banned along with traditional online sites.
Of course, this could be one of the reasons why the American Gaming Association, the industry’s top lobbying group, has changed its course and now backs full legalization and regulation of online casinos.
The new slot machines would be sophisticated enough to compete with the high quality offered at online sites, yet they would not be too sophisticated as to turn away the elderly crowd who would be unfamiliar with how to use such machines. The casino games would be offered by leading software developers in the industry, including: IGT or International Game Technology, Bally Technologies, Aristocrat Technologies, and WMS Gaming.