Atlantic City is considered a gambling destination within the United States, even if it doesn’t share the same elite status as international gambling hubs such as Las Vegas and Macau. There are many who counted the city out several years ago, and many residents were angered by the fact that Atlantic City focused so much on gambling, calling it fiscally irresponsible.

1. ATLANTIC CITY — Gaming revenue in the resort’s casinos was up 20 percent in November compared to last year, according to state gaming regulators.
2. Atlantic City’s casinos have a ways to go reverse that 50% decline: The 2018 figure of $2.896 billion in total revenue, though up 7.5% from 2017, only gets the industry back to 2013 levels. It’s worth noting that had the city’s casino industry stuck to brick-and-mortar gambling only, 2018 would have shown the lowest total revenues in AC.

The city certainly appears to be undergoing a revival, as two reopened casinos and sports betting helped bring in over $2 billion in 2018. This marks a significant uptick in revenue, as the figure was over 7% higher than 2017 revenues.

Reopened Casinos

Atlantic City Casino Revenue November 2019

One of the major factors in the increased revenues is the fact that two high-profile casinos reopened. In 2014, five of Atlantic City’s twelve casinos closed, and many believed that it was essentially over for the city’s quest to become the “Las Vegas” of the East Coast. Trump Taj Mahal, which carries the name of the current president of the United States, was sold for “pennies on the dollar”, and reopened as Hard Rock Hotel and Casino.

Revel Casino, which even received funding from internationally-known investment bank Morgan Stanley, ultimately failed as well. It reopened last year as Ocean Resort, after Revel filed for bankruptcy in 2013.

November Casino Report. Figures show in the report released last Wednesday; revenue jumped from $206.4 Million in November 2017 to $247.65 Million in 2018! In other words, that’s $41.25 Million difference compared to last November! As a whole, Atlantic City casinos saw a 6.5% increase within the same timeframe.

Cautious Optimism

Atlantic City Casino Revenue November 2018 Events

The fact that the two casinos reopened was praised by many media outlets as a sign that there was still life with regards to a gambling sector. It marked an opportunity for more local jobs and tax revenue, but some were concerned, considering the history of the city with regards to casinos closing.

The chairman of the New Jersey Casino Control Commission pointed out that the market will change in the new year. He stated:

Atlantic City Casino Revenue November 2018 Philippines

While the city had a good year, market adjustments from competition occurred and will continue into 2019. The continuing strength of internet gaming plus a growing sports wagering market will provide the industry with tools to compete.”

Atlantic City Casino Revenue November 2018 Calendar

Neil Mathew has been writing about technology and business for years now, and is interested in how emerging technologies will affect the gambling/casino sector.