New Jersey’s gambling industry continues its impressive comeback. Over the past few months, the casino and sports betting operators here have been steadily recovering. Atlantic City’s Q1 revenue figures are now out and many are impressed to see where the city stands.
The entire US gaming industry is bouncing back right now. Over in New Jersey, things seem to be improving faster than in other parts of the country. Now is a great time to break down the revenue numbers over in Atlantic City.
Let’s get into it!
Memorial Day Weekend Will Bring a Surge of Tourism to Casino Hubs
Just one year ago, the entire US casino was struggling immensely. Most states were still ordering their commercial casinos to remain closed. As a result, gambling revenue was almost non-existent around the country.
Things began to improve as the year went on. By the end of 2020, it became clear that the industry was bracing for a major comeback. That is proven true, with gaming revenue slowly increasing over each month of 2021.
As infection rates drop, more people around the US are choosing to travel. Memorial Day weekend is just around the corner and analysts expect to see a massive surge of travel. Many will choose to visit some of the country’s major casino hubs such as Las Vegas and Atlantic City.
The major casino companies based in these cities are preparing for a surge of tourism, too. Casinos in Las Vegas have increased their room rates in order to make the most revenue this weekend. There is also a range of new entertainment options coming to this city.
Atlantic City is also hoping for an influx of tourists from around the country. This city is known as the biggest gambling hub on the East Coast. There are a number of hugely popular casino-resorts here looking to bring in more players.
We’re now beginning to see how successful this year has been for the gaming industry in AC. Let’s check out the numbers!
Breaking Down Atlantic City’s Q1 Revenue Figures
It’s been great seeing the US land-based casino industry bounce back lately. The events that unfolded last year showed how vulnerable this industry really is. Casino revenue has been slowly increasing as the year goes on.
This week, the New Jersey Division of Gaming Enforcement released Atlantic City’s Q1 revenue figures. According to this government body, the city earned three times more in this year’s first quarter than the same time period of 2020. It’s extremely exciting news for the casino companies here.
Overall, casino gross profits here came out to $95 million in 2021’s Q1. Eight of the nine casinos in Atlantic City reported revenue increases over January, February, and March. James Plousis, chairman of the New Jersey Casino Control Commission, spoke about this new development to the media this week.
“The strength of internet gaming and the safe return of tourists to Atlantic City are a powerful combination,” he said. “Last week’s lifting of casino capacity restrictions bolsters confidence for a strong recovery this summer.”
The next few months will likely be even more successful for the gambling industry in Atlantic City. Summer tends to be the most successful season for major casino destinations. With the lifting of many restrictions, Atlantic City will likely set records from its tourism industry.
Atlantic City’s Q1 revenue figures are certainly exciting. We’ll be sure to continue offering updates on the gaming industry here as the year goes on!
Las Vegas Casinos Remove Most Major Restrictions
Atlantic City is certainly one of the biggest gaming industries in the country. Of course, Las Vegas is still the king of the casino hubs. This city is home to a massive number of world-class casino resorts, all of which are now working to bring in more players.
Some big changes have been taking place in this city over the past few weeks. First, many of these casinos were given permission to operate at 100% capacity again. This was a crucial step to get the industry fully recovered.
Next, Governor Sisolak announced that vaccinated individuals would no longer need to wear masks. As a result, most of the casinos in this city removed their mask mandates. It’s bringing back a sense of normality here.
More restrictions are being lifted as time goes on. A new variety of entertainment options are about to become available here. Many are also excited about the grand opening of Resorts World Las Vegas on June 24.
At $4.2 billion, Resorts World LV is the most expensive casino-resort ever built in the city. Reservations will not become available until June 25. Many expect this property to draw in a huge amount of tourists.
Are you surprised to see where Atlantic City’s Q1 revenue figures stand? How do you think the city will fare throughout the rest of 2021? Let us know in the comments section below!