Ask anyone and they will tell you, after Nevada the next big gambling hub is New Jersey. This is no longer true since, according to a credit rating report by Moody’s Investors Services, Pennsylvania has now replaced New Jersey as the nation’s runner up gambling hub. This situation might sound great for Pennsylvania but it comes at great cost to New Jersey, which has seen revenues drop for the last few years and casinos closing down.

The report by Moody’s Investors Services mentions: “Casino and gaming revenues in the Northeast are shifting away from Atlantic City toward neighboring states, especially Pennsylvania”.

Pennsylvania launched it first casino back in 2006 and quickly rose through the ranks. Within 7 years it managed to top the list of gambling related tax-revenues collected with $1.5 billion. The same category shows a battered New Jersey with only $291 million, almost a 50% decrease in figures.