This Summer went more than alright for Atlantic City. A few decade-long records were broken as the town had one of the busiest seasons in years.
That, along with the legalization of online sports betting, helped significantly for the economic boom that Atlantic City experienced. The new betting markets created a lot of job opportunities and helped the regional business to prosper.
NJ Casinos Record Revenue Boosts Atlantic City’s Economy
And the numbers are there to prove it. A milestone of 30,000 employed workers in July was broken for the first time since 2014.
More jobs mean a lot more people on the Boardwalk. In July and August alone, more than 4 million cars were reported entering Atlantic City from the Expressway toll booths.
The increasing number of workers and visitors to the city brought a lot more money to local businesses as well. Hotels, restaurants, and bars experienced a lot more customers, brought by the gambling industry’s success.
Hopefully, this influx of money made the work-force as happy as the business owners. For years Atlantic City’s casinos have been known for the bad job conditions, low wages and stressful work atmosphere, but maybe things are finally changing for the better.
Sports Betting Helped Casinos Beat The 2017 Numbers
Ever since Gov. Philip D. Murphy signed the bill that legalizes sports wagering, new betting opportunities began to pop out in each casino and racetrack.
According to official state numbers, June saw a revenue of $200 million in gambling, and July and August were even more successful with each making $260 million or more. A large chunk of that income came from online sports betting.
When compared with the same period a year ago, the 2018 summer brings a noticeable increase in revenue:
- 5% higher for June
- 10% higher for July
- 20% higher for August
Summarized, the Summer months made a quarter short of a billion for NJ Casinos. And according to New Jersey Division of Gaming Enforcement director David Rebuck, the future is looking even brighter.
NJ Sports Betting rushed into the scene with a flying start as well. Six out of the nine casinos in Atlantic city provided land-based sportsbooks. Of those, Borgata and Ocean Resort Casino alone made $1.5 million during August.
The state’s two racetracks, Meadowlands and Monmouth Park, were tempting for the gamblers. They pulled in nearly $4 million and it is only the beginning of the season.
Hard Rock And Ocean Resort Casinos Continue Their Rise In NJ Betting Scene
There were some doubts about the success of the new betting joints, but both Casinos proved to be a success in terms of revenue. They have a long road to walk before they reach Borgata and the other big names in the gambling industry, but both recorded staggering revenues during the first two months since they have opened.
Hard Rock Casino made $31.246 million in August, making it the 4th most successful betting joint in AC. With nearly 4,000 employees, the casino is becoming an important business institution for the city.
Apart from Borgata, Ocean Resort Casino was the only other place that opened its own sportsbook in July. Although the competition is catching up quickly, Ocean Resort managed to stay the second biggest NJ sports betting provider during August. The casino made $19.6 million in revenue for August and with the increasing interest in online sports betting those numbers will only continue to rise.