Atlantic City Casinos Post First Revenue Gains in a Decade
After all, it was the first time in a decade that the city’s casinos actually posted positive revenue. Much of that success, it turns out, was due to an increase in internet gambling.
According to numbers released this week by the New Jersey Division of Gaming Enforcement (DGE), Atlantic City casinos brought in $2.6 billion in 2016. That’s a jump of 1.5 percent over the previous year, and a rare bit of good news for the beleaguered casino destination.
In fact, only two casinos saw revenue drop last year and one of those two is the now-shuttered Trump Taj Mahal.
Of particular interest to casino affiliates is the massive rise in New Jersey’s internet gambling revenues. The Garden State’s online poker rooms and casinos saw a whopping 32 percent revenue boost over 2015 with $197 million in business.
The success of New Jersey’s online gambling industry is a positive sign that regulated online gambling has a place in the American gaming industry.
In a statement to the Asbury Park Press, Matt Levinson, chairman of the New Jersey Casino Control Commission gushed over the good news saying:
These are some strong numbers, especially with all the bad news about Atlantic City’s ‘demise.’ There’s a lot of good news here. We have some stronger casinos now, and internet gambling continues to increase. The hope is we’re entering a stable environment now.
Given the decreased competition on the Boardwalk, it seems as thought there’s a real possibility that Atlantic City’s casino gains will continue through 2017.