Pennsylvania lawmakers have worked hard to ensure that the state would have a relevant casino industry. Now it appears the industry will become the second largest in the US by the end of 2012.
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Pennsylvania lawmakers had a vision of a casino industry that helped fund many important state programs. The industry has been expanded several times in the past decade, and now it appears that Pennsylvania will become the second largest gaming state in the US by the end of 2012.
Pennsylvania has been trending in the direction of overtaking New Jersey as the biggest gaming market on the East Coast. The addition of table games has helped Pennsylvania cut the revenue gap between themselves and New Jersey.
Major analysts are now weighing in on the race to be number two, and Pennsylvania appears to have the edge. Atlantic City's struggles over the past couple of years has left the door open for another state to make a move, and Pennsylvania has jumped on the opportunity.
"Pennsylvania gaming, sometime next year, will most likely be bigger than Atlantic City," said Andrew Zarnett, Managing Director of Deutsche Bank, while speaking at a conference in Pennsylvania. The prediction was music to the ears of the locals in the crowd.
Atlantic City has several reasons why their gaming industry has fallen off in recent years. The economic recession started the downward spiral, with many projects shelved and renovations stalled at existing . The city then had to deal with increased competition from Pennsylvania and several other Northeastern states.
New Jersey lawmakers attempted to come up with a plan to keep the state on top in the gaming industry when they passed a bill that would have regulated Internet gambling. Governor Chris Christie, however, vetoed the legislation, leaving the city's casinos to search for other ways to increase revenue.
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