New Jersey’s Big Gamble - New York News

New Jersey’s Big Gamble

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Atlantic City, New Jersey (My9NJ) - The casino industry in Atlantic City is struggling. For the first time in 22 years the 11 remaining casinos have generated less than $3 billion, down from the $5.2 billion earned just ten years ago in 2006.

Now, the launch of online gaming is being viewed as a possible savior to the industry. Tropicana Hotel General Manager Steve Callender said that both online gaming and non-gaming revenue are being counted on to save the struggling industry.

“I think you have to integrate the online and the land based casino with your marketing efforts and offers to draw that person back in even if they’re not gonna be here every single week,” he said.

Tropicana is an example of the trend towards non-gaming revenue. Numerous restaurants and bars, an entertainment complex and shopping are all currently expanding and doing well.

“We have a great product land based and we’re trying to turn that into a great product online and how we market the folks I think is the key,” Callender said.

Unfortunately, the first 5 weeks of online gaming generated a relatively low $8.4 million. So, unless that trend dramatically increases, New Jersey will have a huge budget deficit from the over $1 billion revenue that Governor Christie projected in his budget.

Earlier this year, the Atlantic Club went out of business leaving only 11 casinos in Atlantic City. While the state desperately needs the tax revenue, is there a solution to AC’s declining casino revenue?


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