Atlantic City Brick-and-Mortar February Revenue Improves, Casinos Look to Warm Months
Atlantic City casinos won $212.4 zillion on their floors utmost month, which is 8% ameliorate — or rough $15.7 1000000 — than Feb 2019. Casino win utmost month was also 43% higher than Feb 2021.
Gross gaming revenue (GGR) from retail one-armed bandit machines and tabulate games inched finisher to numbers experienced just now before COVID-19 impinge on the United States. Atlantic Ocean City’s ix casinos reported Feb 2020 GGR of $218.3 million.
Though finally month was relieve at a lower place February 2020 by 2.7%, the industry is inching closer to reaching pre-pandemic business levels. January 2022 gambling casino numbers were to a greater extent than 4% infra January 2020.
While retail play continues to return, iGaming continues to surge. Feb GGR from interactive slots and tables, positive salamander rake, totaled just shy of $130 million. That’s 39% best than February 2021, and 150% higher than February 2020.
With just about $30.8 one thousand thousand from sports betting added in, tot up GGR for New Jersey’s statewide gaming industry for Feb 2022 was $373.2 million. That’s a nearly 30% year-over-year premium.
Building Momentum
Warmer months are forrader — typically Atlantic City’s occupy season, as its gambling casino resorts butt upwardly against the Atlantic Ocean Ocean. With February gaming numbers showing a positive trend from January, local officials are optimistic regarding the casino town’s prompt future.
“Atlantic City continued its prescribed impulse inwards February, with strong gains inwards summate gaming revenue as well as cassino win,” James River Plousis, chairman of the New island of Jersey Casino Control Commission, told Casino.org.
The casinos experience been busy this offseason making many improvements to their properties,” Plousis continued. “I’ve heard flat from cassino executives and thither is a palpable optimism crosswise townsfolk for a really unspoilt natural spring and summer.”
Some of that optimism is likely the result of the nine casinos existence afforded a $55 jillion dimension tax burn for 2022. The tax nest egg came from New Jersey lawmakers agreeing to reduce the casinos’ annual property payment-in-lieu-of-tax (PILOT) responsibility. They did so past removing iGaming and online sports betting income from the calculation.
Atlantic County remains inward a causa with New Jersey over the PILOT change. The holding taxation reckoning without iGaming and online sports betting will cost the county an estimated $5 meg a yr through and through 2026.
Smoking Latest
Another major legislative win so far for the casinos is the on-going discussion over indoor smoking. type A growing fusion of state lawmakers and cassino workers say it’s long overdue to oddment the state’s plum indoor airwave loophole for the gaming venues.
The Casino Association of New Jersey (CANJ) disagrees. The craft radical believes the quick yr after the pandemic’s to the highest degree difficult stop is certainly non when lawmakers should follow mulling the cessation of indoor gambling casino smoking.
“Now is not the clip to act out a smoking ban,” said CANJ President Joe Lupo, who heads the Hard Rock gambling casino inwards town.
Lupo points to both work and visitation existence at 20-year lows. A meditate on the impact such a forbiddance would make that was commissioned past CANJ but conducted by Spectrum Gaming concluded that as many as 2,500 gaming jobs would live lost.
Proponents of conclusion indoor gambling casino smoking say the industry’s threats are naught more than panic attack tactics.