Atlantic City's Summer was Best in Years

You needn't be a prophet or a soothsayer to know Atlantic City’s in for a treat, when the beginning of the year's news announced that it will have two new casino resorts opened in June...

...Spring brought in more amazing news, when the sports betting regulation craze swept across the nation after the Senate's historic decision. Now it's all done and over – so how was it for New Jersey’s gambling haven?

Bloom Without Precedent

The excitement of the famous boardwalk in beachfront city has been bursting at the seams since June 27th, when Hard Rock and Ocean Resort casinos opened the doors to their lavish, action-packed interiors.

In the June- August period, way more tourists flooded AC than in recent years, according to a Press of Atlantic City article. Also, the number of casino workers employed soared thanks to two huge resorts opening job positions.

All in all, the summer of 2018 was the best in recent memory for Atlantic City, says President of the Casino Association of New Jersey, Kevin Ortzman.

Ortzman stated: “Casinos saw significant gains this summer in employees, visitors and gaming revenue. This growth demonstrates that the casino industry’s investment in Atlantic City’s transformation into a first-class resort and business conference destination is working.”

Telling Figures

In August, casinos' gross gaming revenue (land-based, online and sports betting revenue combined) climbed almost 21%, year-on-year...

...For the three month period (June-July-August), GGR totaled $839.6 million - $109 million more than the same period in 2017.

Over 30,000 workers have been employed by the Atlantic City casinos for the first time in over four years.

Usually, the end of summer also means the decline in revenue for land-based casinos. However, there is one thing that will make the difference this year and in the years to come...

...Sports wagering is now available at six AC casinos as well as Meadowlands and Monmouth Park racetracks. New Jersey's total sports betting revenue in August reached the $95 million mark and some analyses are of the opinion that in the next couple of years, NJ will dethrone Nevada in this segment.

David Rebuck, Executive Director of New Jersey Division of Gaming Enforcement, shared his enthusiasm:

“With the new casinos that opened in June and the addition of sports wagering options … the gaming industry has experienced growth rates in July and August that have not been achieved in years. It is an exciting time for Atlantic City and we look forward to continued revenue growth going forward.”

Source:

“Casino revenues up 22.5 percent in August", David Danzis, pressofatlanticcity.com, September 12, 2018.