Atlantic City Reports Strong July Thanks To New Venues and Online Growth

Atlantic City was once regarded as a casino capital, and a must-visit destination for gamblers. But after years of decline and several notable casino collapses, Atlantic City experienced what many have gone on to call a ‘lost decade’.

But after developments around online gambling, and several new casino openings over the last few months, Atlantic City appears to be very much back in business.

Now, casinos in Atlantic City have reported better than expected results for July, concluding what has been another successful month for the resort. Buoyed by a combination of newly opened gaming venues and strong growth in online gambling revenues, it looks as though the good times have returned for gambling in New Jersey.

Online performance in particular has been to the significant benefit of resorts there, with new record levels of wagering activity reported over the period, in the latest result of its kind of vindicate the approach to online gambling in the state.

According to statistics published by the New Jersey Division of Gaming Enforcement, the 9 casinos in Atlantic City generated a combined $272.3 million, representing 10.1% growth in the figures recorded for July 2017. Factoring in revenues of $25.9 million for online, and the growth represents a gain of nearly 12% on the same period last year.

Across additional gambling venues, such as racetrack betting and casino sportsbooks, the grand total stood at $302 million, or a growth of just under 13% on the same figure from 2017. Interestingly, the results were equally as strong in slots and table games at physical casinos, which grew by 8.8% and 13%, perhaps showing the crossover benefits of the more lenient betting laws in New Jersey.

Back in June, Atlantic City saw the opening of two brand new casino resorts, in the Ocean Resort Casino and the Hard Rock Atlantic City casino, which have both contributed to these monthly results.

Hard Rock saw a successful launch month, landing around $32.4 million in revenue, ranking third of all operators within the city. By contrast, the Ocean Resort Casino managed just $15.8 million, a factor that has been attributed to its low-key location, in comparison with the flagship Hard Rock casino.

The Borgata was the top performer again in July, posting revenues of $71.1 million. At the other end of the table was Resorts Casino Hotel, which dropped 12.7% on its figures from the same period in 2017.

Atlantic City has dined out on gambling for decades, but even until relatively recently, it had fallen behind other global gambling destinations. Now, rejuvenated, it could provide a template for governments and regulators looking at the impact of gambling and leisure industries on local economies.

Even in the US, there are still states hesitant to back casinos and gambling entrepreneurs in creating jobs and opportunities at home, even in full knowledge of the tax revenues this can and does deliver. Atlantic City could be any city, with a more sensible approach to gambling, and in particular, to online betting nationwide.

With another strong month in the bag, and two brand new casino resorts pulling in fresh faces, it looks like the gambling-led revival of the northeast is well underway.