Atlantic City revenue goes up after a decade
According to the New Jersey Division of Gaming Enforcement, casino revenue at Atlantic City rose by 0.3 per cent to US$2.41 billion.
US.- Atlantic City hadn’t seen its casino revenue grow for over a decade but finally broke the curse, according to the official numbers released Friday by the New Jersey Division of Gaming Enforcement (NJDGE). During 2017, the state’s brick & mortar casino businesses generated U$2.41 billion in revenue and rose 0.3 per cent from last year’s US$2.4 billion.
Not only was this a record breaking year for casino revenue, but also for the New Jersey regulated online gambling industry as well. The Garden State online wagering figures reached a staggering US$250 million during last year and set a new all-time high since the segment was introduced in November 2013.
As 2017 seems to have been a great year for Atlantic City, the industry enters 2018 full of optimism as the Revel Casino was sold to Bruce Deifik for US$200 million and is set to reopen alongside the former Trump Taj Mahal now under Hard Rock’s control.
The modestly positive news that Atlantic City casinos managed to improve upon Gross Gaming Revenue (GGR) figures in 2017 does not necessarily foretell a brighter future for New Jersey brick & mortar gambling interests in 2018. Furthermore, the Supreme Court ruling on sports betting (which is expected to revoke PASPA) adds up to an already promising local performance for this year, including high expectations on tax revenue and investment.
