Atlantic City Shows Quick Recovery
The COVID-19 pandemic crippled so many areas of the world's economy, and for the most part, the gambling industry suffered a huge setback. However, it appears that the pandemic-ridden years have only reinforced demand with gamblers eager to get back in on the action.
Following the publishing of these April results, industry elder statesmen and veterans have been throwing in their thoughts and insights to provide better context.
"While COVID remains a concern, the public seems to be returning to pre-pandemic social behavior by attending large gatherings, traveling more, and socializing with friends," said director Jane Bokunewicz of Lloyd Levenson Institute at Stockton University.
The nine Atlantic City casinos recorded approximately $235 million from just in-person gamblers. This figure is 24% more than the total before the pandemic hit, and five out of these casinos had better results than in 2019. These results do not even include the horse racing handle, as those are recorded separately.
Gaming outfits and properties in Atlantic City recuperating so speedily only strengthens the argument for a smoking ban across the city's casinos.
Drivers of This Increased Revenue
Most properties in the gambling city recorded huge growth in numbers, including the newbies on the block. The likes of Hard Rock and Ocean witnessed a significant surge in gaming operations. The same can also be said of Borgata, which raked in the most revenue. At $61.6 million, Borgata did 60% better than in 2021.
Hard Rock comes in second place with $40.5 million, or 15% more than the previous year. Ocean follows suit with $26.2 million, up by 18.5% compared to the value from the year before. The results continue with Harrah's at fourth position after topping 2021's result by 12%.
Outside these land-based casinos, interactive gambling is another major contributor to the recorded revenue, accounting for $136.8 million. Online gaming continues to soar but not at the expense of its land-based counterparts, as the former has attracted a different audience entirely.
The high momentum that the $927 million generated from sports betting in Atlantic City is also complemented by increasing racetrack gambling revenue. Both accumulate to $1.6 billion. April's results signal, perhaps, the new rise of New Jersey's gambling market to levels that were not even attainable before the pandemic struck.
Andrew is interested in gambling developments in Canada and the USA. He writes news updates and contributes to casino reviews for the site. A keen ice hockey player, Andrew likes to spend time on the rink playing for his local team.