Atlantic City to review casino regulations
A former special counsel to Gov. Phil Murphy made a pitch in Atlantic City to change the casino regulations in the near future.
US.- Atlantic City could soon update its casino regulations and Jim Johnson, former special counsel to Gov. Phil Murphy made his pitch to a state Assembly committee.
Johnson spoke before the Assembly Tourism, Gaming and the Arts Committee. He did so with Catherine Brennan, deputy treasurer of the state Department of the Treasury, and William Irving of Rutgers University’s Economic Advisory Service, and all three will continue to testify.
Johnson has suggested a cap on the number of casino licenses. The idea received support from several lawmakers.
“The trendlines suggest things are going to be down,” as new casinos continue to open in neighbouring states, he said. “The Atlantic City casino industry is vulnerable to challenges from within, and competition from outside the state. The data is really stark.”
Atlantic City casino revenue
The New Jersey Division of Gaming Enforcement (DGE) released on Thursday the financial report from August. The city managed to post a double-digit increase in gaming revenue, mainly because of online gaming and sports betting’s performance.
Total gaming revenue in Atlantic City was US$338.8 million, representing a 13% increase when compared to August 2018. Summer’s three-month period also reported an 11.6% increase year-over-year.
James Plousis, chairman of the Casino Control Commission, explained that the results show there is a great deal of customer interest in Atlantic City’s offerings. He said that operators have made strides adjusting in a competitive environment.
Last month’s performance represented the 15th consecutive month where Atlantic City casinos report gaming revenue increases. These numbers were greatly helped by online gaming and sports betting.
