Atlantic City casinos to face continued challenges in 2022
More players turn to internet gaming as an alternative.
Casinos in Atlantic City have had to come up with creative ways to draw in business during the ongoing Covid-19 pandemic. Last year’s 107-day closure forced many casinos to turn to internet gaming. The trend continued in 2021 as gamblers took to their cellphones, laptops, and tablets to play.
Seven of the nine casinos showed declines in the amount of in-person money won from gamblers throughout November, compared to 2019.
“The pandemic continues to have an adverse effect on our business, with land-based casino win down 5.5% for the year through November, and while online gaming revenue continues to see significant growth with third-party operators acquiring much of that market-share, it has provided another taxable revenue source to the city and state,” said Joe Lupo, President of the Casino Association of New Jersey, who also serves as President of Hard Rock Hotel & Casino Atlantic City.
The growth of internet gaming and sports gaming was evident in September when New Jersey became the first state to hit $1bn in sports betting handle.
“New Jersey has always been a strong gaming market,” said Casey Clark, Senior Vice President of the American Gaming Association. “Crossing the $1bn handle mark in September is an impressive indicator of the appetite of New Jerseyans and Americans across the country who have embraced legal, regulated sports betting.”
The overall success of the internet and sports betting also comes with some drawbacks, said Tony Marino, a former Atlantic City Expressway executive who now writes a newsletter discussing the city’s tourism and casino trends.
“But the irony is that online gaming threatens in-person activity by suppressing overall visitor volume to the resort which, in turn, negatively affects brick-and-mortar gaming, city and casino restaurants, retail establishments and entertainment venues,” Marino said. “The challenge in 2022 is for the industry to maintain national leadership in digital gaming while marketing Atlantic City as a resort with multiple world-class attractions worthy of in-person visits.”
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