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Atlantic City Gambling Revenues Drop in 2014

The New Jersey Division of Gaming Enforcement has announced that Atlantic City's gambling revenues fell 4.5% in 2014, reaching $2.74 billion for the year.

Although those numbers are down, they are better than industry expectations, as four of the city's casinos closed shop last year. Six of the remaining eight casinos posted revenue gains for the year, as they took in some of the business from the shuttered operators.

The numbers indicate a 48% drop in revenues since 2006.

Online gambling numbers resulted in revenues of 123 million for the year, with Borgata holding 36% of the market share.

Commenting on the results Lloyd D. Levenson Institute of Gaming Hospitality and Tourism at Stockton College Executive Director Israel Posner said, "It's an absolutely remarkable result for a year that saw so much tumult in the gaming market."