Atlantic City casino revenue down 8 percent in 2012

Atlantic City casino revenue down 8 percent in 2012

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© AP © AP

By WAYNE PARRY | AP

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.

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