Atlantic City Casinos Experience Haunting October as Gaming Win Falls 8.5%

Gaming revenue at Atlantic City casinos declined 8.5% in October despite favorable weather conditions. The New Jersey Division of Gaming Enforcement (DGE) reported that only three properties saw growth during the period.

Meanwhile, iGaming revenue in New Jersey surpassed $200 million for the first time, setting a new record despite brick-and-mortar struggles.

Recent Developments

• Atlantic Club owner reports worse-than-expected property conditions
• Atlantic City casino profits declined in 2022 amid post-pandemic challenges
• Analysis suggests smoking ban could reduce gaming revenues by up to 25%
• August 2023 saw nearly 5% gaming revenue increase
• New Jersey Republicans support ending casino smoking exemption

Legal and Safety Updates

• Casino smoking lawsuit appealed to New Jersey Supreme Court
• Casino union drops AFL-CIO membership over smoking policies
• Recent armed robbery at Tropicana involved teens under 15
• Former MMA fighter pleads guilty in deadly casino stabbing

Business and Development

• Evolution announces $75M live casino dealer studio campus
• Borgata initiating upgrades to regain market share
• Bally's celebrates 45th anniversary with facility improvements
• First half of 2024 shows stagnant casino revenue
• May 2023 celebrated 5% revenue increase

Current Challenges

• Casino profits tumble 10% due to inflation
• April gaming revenue reached nearly $511M despite local casino struggles
• Showboat faces contractor payment disputes
• Industry continues adapting to post-pandemic market conditions

The Atlantic City casino industry continues to face various challenges while seeking new opportunities for growth and development. Despite some positive indicators, the market remains in transition as it addresses regulatory changes, economic pressures, and evolving consumer preferences.

Related Articles

Previous Articles