Atlantic City Back? New Jersey Rising Thanks to iGaming
Published April 21, 2017 by Lee R
Online growth has spurred local investment and integrated resort activity in AC.
As iGaming 2017 takes shape, a US representative is looking better than ever.
Hot Record
An all-time high in positive online gambling revenue for March has been reported by the New Jersey Division of Gaming Enforcement to the record tune of $21.7 million (€20.3 million).
The previous record was January 2017’s $18.8 million.
Year-on-Year Catapults
The year-on-year total increase was extremely substantial at 40.2% jump from March 2016’s $15.5 million, bringing New Jersey’s total 2017 online gaming revenue take to $59.3 million, for a 32.1% jump from Q1 2016.
Total casino win for March climbed to $200.1 million for a 6.7% gain from the $187.5 million posted last March. The yearly total for casino win in New Jersey increased 3.6% to $552.9 million for a year-on-year increase of 3.6%.
Marching Overall Gaming
New Jersey’s overall gaming win for March reached $221.9 million for a 9.3% year-on-year increase for the month, with 2017’s total already reaching $631.9 million for a year-on-year increase of 5.7%.
Cool AC Benefits
The booming online figures are also helping resuscitate New Jersey’s famously collapsing land-based casinos in Atlantic City, aka the poor man’s East Coast answer to Las Vegas, as evinced by a 9 percent plus boost in land-based Atlantic City casinos actually, translating to 17% when excluding the non-contribution from the closed down Trump Taj Mahal.
One Drop on Land
Of the seven operational brick and mortar casinos in the Garden State, only Bally's posted a decrease--at an absorbable and overcomeable 2.2 percent.
NJ iGaming Official Reacts
New Jersey Casino Control Commission Matt Levinson hoped out loud that "Every month should be as good as March,” directly crediting online casino growth for new positive interest in Atlantic City which includes fresh industry investments.
Online AC Resuscitation
With the shuttered Trump Mahal purchased by themed resort Hard Rock International to be reopened in summer 2018 and local developers buying the former Atlantic Club Casino to be reopened as a non-gambling water park resort, a true resurgence in the long ailing Atlantic City Strip appears genuinely afoot, thanks in no small part to the rise of online gambling in one of the few US states that regulate it.
