As we’re all aware, the winter season is now upon us in New Jersey. With that said, we all know business slows down during this time. Indeed, online casinos and sportsbooks are flourishing right now. However, America’s Favorite Playground tells a different story.
According to the NJ Division of Gaming Enforcement (DGE), some casino profits are down. Although what’s interesting here is the DGE’s reasoning for the quiet storm. Without a doubt, their opinion does hold weight, but with all due respect, Atlantic City is booming right now! So let’s get to the bottom of this!
Regardless if business is good or bad, there’s always a difference in expert opinion. On that note, James Plousis, chairman of the Casino Control Commission said, “Industry profits are down right now. Which, is a result of the new casino competition in AC.”
In fact, Q3 brick and mortar profits decreased by 15.3% YOY. But attributing the decrease in revenue to the new casinos is perhaps jumping to the conclusion quickly, if we may say. Let’s not forget to mention that the two new venues did have a lot of positive impact in the city. Indeed, as Plousis commented, there are more than 6,400 jobs right now than there were at this time last year!
All and all, the online gaming industry is perhaps slowing down yet, Atlantic City Int Airport also saw a 2.8% increase from the same quarter a year ago! On that note, executive director at the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism said it best.
According to him, “Sustained growth in the lodging sector clearly reveals the resilience of Atlantic City. In fact, AC is more than just a casino town; it’s becoming a top resort destination on the East Coast.” Keep in mind that these reports only tell half of the story. For the other half, you’ll actually have to visit AC to know it!