During the past year, land-based casinos all over the world had suffered a great setback. However, online gaming had become more popular than ever before. Somewhere among these facts, we can be looking for the reasons. The reasons, why the Atlantic City casino earnings in the first quarter of 2021 are running so high!
Atlantic City is just great for people, who would like to try some big-time wagering in exclusive surroundings. Also, for gamblers, it is a place they must visit at least once in a lifetime. And these are starting to show on the earnings, as casinos in Atlantic City have finally opened their doors again. In the first quarter of 2021, the gross operating profit of Atlantic City’s casinos is more than 95 million dollars! And that is not just more than last year’s when the lockdown kicked in – it exceeds the numbers of 2019 as well. But how it is possible? What has changed? Is it something permanent? And how do people inside the industry see these thriving numbers? Online gambling news sites in the US are already on the question!
Gambling in Atlantic City
If you are a citizen of the United States, we do not have to go into details about the gambling possibilities of Atlantic City. However, many around the world are familiar with this gambling center, because of all the movies it is featured in. But how is gambling going in AC? The city itself is a part of New Jersey, which has one of the least restrictive gambling laws of all the states of the US. They have casino gambling in AC, the New Jersey Lottery, horse racing, off-track betting, charity gambling, amusement games, and social gambling. There are also several online gambling sites in the US, like Unibet, that you can find in Atlantic City if you are a fan of wagering online.
On the other hand, they are in massive competition with Las Vegas, the other important gambling hub of the country. So, they are trying to lure more people in with appealing offers, star boxing games, luxurious premises, and so on. Now, if we look at the casino earnings in Atlantic City, we can say, that they have succeeded!
Atlantic City Casino Earnings
On May 24th, the New Jersey Division of Gaming Enforcement released some data on the casino earnings in Atlantic City. And the numbers are pretty remarkable! The gross operating profit of the city was more than 95 million dollars in Q1 of 2021. (The gross operating profit includes all the earnings before interest, taxes, depreciation, and all other charges.) To put that in context: it is three times more than that of the Q1 of 2020! Okay, so that was the time when the casinos had to shut down, and that had a lot of impact on this number. So, let us list the same data in 2019 as well: it is also 11% higher! James Plousis, chairman of the New Jersey Casino Control Commission was the first to put these numbers together and compare them.
He said: “The strength of internet gaming and the safe return of tourists to Atlantic City is a powerful combination (…) Last week’s lifting of casino capacity restrictions bolsters confidence for a strong recovery this summer.”
The recovering industry
Many think that this amazing result is a sign of an industry in the recovery. And this is something that is really needed after the hard times of the past year! Of course, online sportsbook sites in the US, like Unibet, had a great year, but we cannot say the same about the land-based casinos. But the brick-and-mortar casinos, as well as the hotels of Atlantic City were pretty much empty. But it is changing now. Jane Bokunewicz, coordinator of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism at Stockton University claims that the revenue and the hotel occupancy are both coming up in Q1 2021. And she said that this is a “further sign that the industry is recovering. As the last restrictions are lifted, there is every reason to expect to see an even stronger recovery in the second and third quarter data.”