CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links

Gaming News

 

2019 marks another year of record growth for Atlantic City

15 January 2020

Atlantic City saw 19 straight months of gaming revenue increases in 2019.

Atlantic City saw 19 straight months of gaming revenue increases in 2019. (photo by Gary Trask)

(PRESS RELEASE) -- The Casino Association of New Jersey (CANJ) today announced that Atlantic City saw another year of record growth, according to the December 2019 Division of Gaming Enforcement (DGE) gaming revenue results report. Throughout 2019, the beachfront resort destination saw 12 straight months of revenue growth and the continued success of sports betting and internet gaming.

“In 2019, Atlantic City saw gains across the board in gaming revenue, sports betting, internet gaming and tourism,” said Steve Callender, president of the Casino Association of New Jersey. “We hit several milestones over the last year, including New Jersey’s sportsbooks surpassing Nevada for the first time and significant internet gaming growth.”

2019 marked the first full year of sports betting and the first full year of operation for two of the newest casinos. Over the last year, Atlantic City saw continued revenue gains in the following areas:

-Combined with third party internet gaming and sport betting operators, gross gaming revenue in Atlantic City exceeded $3 billion for the first time since 2012
-Over $482 million in online gaming revenue in 2019, reflecting a 61.6 percent increase over 2018
-The industry generated over $279 million in taxes and fees collected by the state in 2019
-Sports betting brought in over $123 million in revenue for 2019
-19 straight months of gaming revenue increases
-New Jersey’s sportsbook surpassed Nevada in May, July and August of 2019

“Atlantic City had another tremendous year, with gaming revenue up for 19 consecutive months,” said Rummy Pandit, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University. “Sports betting and internet gaming has continued to grow gaming revenues in 2019 and we anticipate similar growth in 2020.”

The DGE report released also shows that December 2019 gaming revenue for Atlantic City was over $270 million. This reflects a 9.2 percent increase over the same period last year. Other indicators that Atlantic City saw continued growth in December include:

-Online gaming revenue was over $49 million, up 70 percent over December 2018
-The industry generated nearly $24 million in taxes and fees collected by the state in December
-Sports wagering revenue was over $12 million, up 31.7 percent from December 2018

“We look forward to seeing how sports betting and internet gaming will continue to diversify and grow our economy,” added Callender.

According to a recent Press of Atlantic City article, Atlantic City has seen four consecutive years of total revenue growth. In recent years, legalized sports betting, continued success of Internet gaming, expanded offerings, the opening of two new casinos, South Jersey Gas headquarters, the Stockton University beachfront campus, the Boraie Development residential complex, and the Tennessee Avenue redevelopment have provided a major boost in jobs, revenue and tourism this past year.

The casino industry continues to work tirelessly to solidify the seaside resort’s comeback by diversifying Atlantic City’s offerings, as well as investing hundreds of millions of dollars in redevelopment projects and non-gaming services to attract new visitors. The industry’s efforts have advanced the revitalization of Atlantic City, transforming the city into a business conference destination and first-class resort that features great restaurants, entertainment and shopping.

< Gaming News

2019 marks another year of record growth for Atlantic City is republished from Online.CasinoCity.com.