Bally’s Casino in Atlantic City is Briefly Shutting Down

Ballys Atlantic City

Atlantic City’s casino companies are working extremely hard to bring in tourists right now. Unfortunately, each of the casinos in the city has to go through maintenance work from time to time that forces shutdowns. New reports claim that Bally’s Casino in Atlantic City is being forced to close its doors next week for more than a day.

This popular casino-resort has some work that needs to be done. As a result, no guests will be allowed inside the casino floor. Now is a perfect time to talk about what is happening with this casino and the company that owns it.

Let’s get into it!

Atlantic City’s Revenue Declines Continue in 2021

The economic situation in Atlantic City has been sub-par for nearly a year. Back in March, all of the casinos in this city were ordered to shut down. That’s a tough blow for a city like this one that relies heavily on its tourism and gambling industry.

As the casinos shut down, tourism stopped flowing in and gaming revenue began to plummet. It wasn’t until July that any of these casinos were given permission to reopen. Once they did, tourism rates in the city only slowly began to increase.

Things have not improved in a major way. Heavy restrictions are still set on all of Atlantic City’s casinos. As a result, tourism numbers remain lower than what was seen in 2019. The economic situation here is still far from ideal.

Atlantic City’s gambling industry has some ways to cope with this situation, though. The casino companies here are able to legally offer online casino and sports betting options. This is helping to bring in some much-needed revenue at this time.

Online sports betting has proven to be extremely valuable for the city. In fact, New Jersey is now home to the largest sports betting industry in the United States. The state set several new sports betting handles throughout 2020 and will likely do the same this year.

Land-based casinos in Atlantic City are still hurting. News has just come out that one of the most popular gaming venues here will soon be closing down for a brief period of time.

Bally’s Casino in Atlantic City Confirms Upcoming Shutdown

Major casino resorts act as adult playgrounds. Much of their appeal comes from the fact that they remain open 24/7. Visitors to Atlantic City love having the option to play their favorite games at any time.

Obviously, these casinos try to never shut down. Even temporary closures can result in huge revenue losses. Sometimes, however, it’s required. That is exactly the case with Bally’s Casino in Atlantic City.

Reports have confirmed that this popular casino-resort will soon close its doors to the public for 30 hours for a technology update. This will begin at 8 pm ET on Tuesday and will end at 10 am on Wednesday.

The New Jersey Division of Gaming Enforcement confirmed this news. An official within the NJ Attorney General’s office spoke about this situation to the media.

“[The shutdown was approved] to perform data system upgrades. Based on information received from Bally’s, (it) will accommodate a complete IT overhaul to modernize all electronic gaming devices and systems,” the official said.

This will likely end up costing Bally’s a substantial amount of money. The owners of this venue would not make this decision if it wasn’t necessary, though. It seems Bally’s Casino AC will soon be getting some exciting new games and devices.

There is a lot going on with casino companies around the United States. Some of the ones in Las Vegas are excited to hear about a possible loosening of restrictions.

Governor Sisolak Prepares to Ease Restrictions

Atlantic City is without a doubt one of the country’s most popular gambling destinations. There are a huge number of world-class gambling venues operating here. The sports betting options here are also helping to bring in money each month.

There’s no doubt that Las Vegas remains the world’s biggest casino hub, though. This city is still home to some of the country’s biggest and most popular casino-resorts. Like Atlantic City, however, these casinos have been struggling for almost an entire year.

Things may soon improve. This week, Nevada Governor Steve Sisolak announced he will soon begin loosening restrictions toward gatherings. That could be a game-changer for the casinos struggling to bring in players right now.

Soon, the Governor is expected to begin allowing gatherings of up to 35% capacity. If all goes well, he will then allow 50% capacity. Night clubs will remain closed until at least May 1, he tells the media.

“While we are hopeful that trends will continue to decrease if all mitigation measures are followed, we must remain flexible – as we have done all along,” Sisolak said. “We will continue to monitor data trends throughout this timeline and work closely with counties and local health authorities to evaluate next steps should a significant increase begin to occur.”

Loosening these restrictions could help to bring a major surge of tourism into Las Vegas. Nothing has been made official yet. Expect to hear more about these regulations being lifted over the next few weeks.

Do you plan to visit Bally’s Casino in Atlantic City this year? Let us know in the comments section below!

Hard Rock Atlantic City is Giving Out Big Employee Bonuses

Hard Rock Atlantic City

Atlantic City’s casino industry has been through a lot lately. The same can be said for the thousands of individuals that work inside these venues. Fortunately, news is now breaking that Hard Rock Atlantic City plans to give out an incredible $1 million worth of bonuses to its employees.

It’s great news for the workers here. Atlantic City still has a long road to get back to normal, though. Today, we’ll discuss Hard Rock’s plans and look at how some of the other casinos in New Jersey are faring right now.

Let’s get into it!

New Jersey’s Casino Revenue is Down, Sports Betting Revenue is Up

Back in the 1980s, Atlantic City developed into one of the country’s premier gambling destinations. Major developers moved into the city and opened world-class casinos. Tourism numbers began to boom and revenue was increasing every month.

Things began to decline throughout the 90s and by the mid-2000s, this city was struggling immensely. Many of the casinos here were forced to permanently close their doors. There was a time when it seemed like Atlantic City would never recover.

Incredibly, things began to turn around in mid-2018 when the Supreme Court removed PASPA, giving New Jersey the ability to finally legalize sports betting. Many sportsbooks almost instantly began operating. This led to a surge of new tourism and valuable revenue for the casinos here.

Unfortunately, 2020 halted much of the progress the casinos have been making lately. For several months of the year, the casinos here were forced to completely shut down. When they finally did reopen, they were forced to operate at a limited capacity and with intense regulations set in place.

Casino revenue remains low here. Sports betting, however, has been on a steady rise in New Jersey. Online sports gambling has been surging particularly high lately. The state’s sports betting operations are expected to bring in a huge amount of revenue as Super Bowl LV approaches.

Hard Rock Atlantic City continues to struggle. Despite that fact, the casino plans to give its guests bonuses over the next few weeks.

Hard Rock Atlantic City Employees Are Set to Receive Bonuses

Casino workers have been under some serious stress lately. A huge number of them were laid off after the casino shutdowns in March. Many casinos are now reopened, yet continue to see low visitation rates.

The Hard Rock Hotel-Casino in Atlantic City opened its doors again over the summer. Since that time, Hard Rock has been working hard to bring in more players. It hasn’t been easy and no one seems to know when things will begin to return to normal.

This week, news broke that Hard Rock Atlantic City is set to give out $1 million worth of bonuses to its employees. More than 2,000 of the casino’s employees are set to receive one of these bonuses. It comes as a thank-you to the workers who have worked during these difficult times.

Hard Rock Chairman Jim Allen spoke about the company’s new plans to the media this week.

“We believe that this continued support of our employees, and our belief that this will continue to enhance our respect and appreciation that we’ve provided to them and that they have given back to us, will continue to grow customer service in the property, and more importantly, continue to separate us from the rest of the industry,” he said. “We know Atlantic City still has a great history behind it, and still has a better history in front of it.”

It has been confirmed that these bonuses will be reflected in the paychecks distributed this week. The specific amounts will vary depending on every worker’s position. It’s a fantastic move for Hard Rock and one that its employees can appreciate.

Officials within Hard Rock are optimistic that things will improve as the year goes on. Just about all of the other casino companies are hopeful of this, as well.

NJ Casinos Hope for a Tourism Boom by Summertime

2020 seemed to prove how vulnerable the US casino industry really is. If tourism stops, casinos are unable to bring in players. That is exactly what happened in places like Macau, Las Vegas, and Atlantic City.

Casinos are still doing everything they can to bring in more players. Boosting tourism isn’t as easy as it might sound at a time like this, though. Many major casinos are now hoping that with effective vaccine distribution, travel will begin to surge around the country.

No one seems to know what to expect. Some feel that vaccine distribution will end up allowing more to take trips. Some analysts believe most will want to travel within the US and to fun entertainment hubs such as Atlantic City.

There are some who are less optimistic, though. New variants of the virus spreading around the country cast doubt on vaccine efficacy. That could lead to additional surges around the country and more travel restrictions being set in place.

It’s a difficult time for the entire casino industry. Fortunately, there are some good things taking place with casinos in different parts of the country. Hard Rock Atlantic City is even working hard to give its employees bonuses right now.

When do you expect Atlantic City to return to normal? Let us know in the comments section below!

Casino Owner Removes Bids to Demolish Trump Casino

Trump Plaza Casino

Not long ago, reports surfaced claiming there would soon be a bidding process available for those looking to demolish the Trump Plaza Hotel-Casino in Atlantic City. Unsurprisingly, many expressed interest in earning the right to take this property down. This week, reports came out claiming Carl Icahn has removed bids to demolish Trump casino.

It’s an interesting move for Icahn. This venue will still be demolished, albeit without the same spectacle that some predicted. Today, we’ll talk about what is happening with this property.

Here’s what we know.

Atlantic City Casinos Hope for a Better Year in 2021

Over the past decade, Atlantic City has grown to become one of the largest casino destinations in the world. It’s not much of a surprise. This city is home to a huge number of world-class casino-resorts. Many have gone through huge renovations over the past few years.

Things appeared to be going smoothly here. With the introduction of sports betting back in May of 2018, the casino industry here began to grow quickly. Many expected casino revenue here to rise steadily as the years went on.

2020 halted all of the progress made here. In March of last year, state leaders in New Jersey forced all of the casinos in this city to close their doors. It wasn’t until July that Atlantic City’s casino industry was given permission to reopen again.

Revenue has remained extremely low since this time. Atlantic City continues to see extremely small tourism numbers when compared to 2019. As a result, the casinos here are having a difficult time bringing in money.

The casino owners are now hopeful that 2021 proves to be a significantly better year for the industry here. Many believe that with effective vaccine distribution, more visitors will begin flocking to Atlantic City’s casinos. We should get a better idea of what to expect here this year over the next few months.

We’ve seen several major casino-resorts permanently shut their doors over the last few years. That includes one formally owned by Donald Trump. Here’s an update on this venue.

Carl Icahn Removes Bids to Demolish Trump Casino

The Trump Plaza Casino first opened its doors in Atlantic City back in 1984. For a time, it was one of the hottest gambling venues in the city. Due to competition and a drop in tourism rates, this property eventually went bankrupt and officially shut down in 2014.

Billionaire Carl Icahn eventually took control of this property and the land it sits on. Interestingly, he hasn’t decided to tear it down. To the disappointment of many officials in Atlantic City, this venue has simply remained closed and is beginning to fall apart.

Officials finally decided that a change was needed. News broke last year that Carl Icahn would soon be demolishing this venue. Reports then came out that a group was allowing businesses and individuals to bid for the right to demolish this property.

It now appears that Icahn has ordered to stop all bids to demolish Trump casino. Icahn reportedly sent a cease-and-desist letter on this bidding process. Instead, he will personally donate $175,000 (the amount expected to come in from bids) towards the Boys and Girls Club of Atlantic City.

Icahn believes that allowing untrained individuals to be involved with this demolition process is unsafe. A spokesperson offered more information about this situation to the media this week.

“From the beginning, we thought the auction and any other related spectacle presented a safety risk, and we were always clear that we would not participate in any way,” the spokesperson said. 

Those hoping to personally tear this property down are now out of luck. That doesn’t mean the Trump Plaza Casino will remain standing, though. Icahn still prepares to demolish the venue early this year. We’ll offer more information on this situation over the next few weeks!

Biggest US Casino-Resorts Opening in 2021

It will be interesting to see the Trump Plaza Casino torn down. This was one of Atlantic City’s most beloved venues for decades. It will now be torn down, making way for an exciting new casino-resort to open its doors here.

There are many incredible new casino-resorts scheduled to open their doors throughout the US over the next few years. Obviously, most are looking at Las Vegas. There are several major venues opening here in 2021.

The biggest and most exciting is Resorts World Las Vegas. This multi-billion-dollar venue is slated to open its doors to the public sometime this summer. More details on this casino-resort have been coming out lately. It’s expected to be one of the most impressive gambling properties ever built in Las Vegas.

Many are also excited about the new Virgin Hotel-Casino opening its doors this year. This is the first casino ever owned and operated by Virgin. It is also expected to be incredible and is expected to open its doors in Las Vegas early this year.

We will see many casinos built around the US this year. There are also a large number of casino-resorts scheduled to be torn down. Don’t expect to make any bids to demolish Trump casino, though.

Are you surprised Carl Icahn stopped the demolition bidding process? Let us know in the comments section below!

Entertainment Options in Atlantic City Are Still Being Offered

Atlantic City Boardwalk

Atlantic City is one of the country’s premier tourism destinations. Unfortunately, there’s been a significant drop in visitors throughout the year. Casino companies here are now doing everything they can to boost tourism numbers. We’re now seeing an increase in entertainment options in Atlantic City appearing.

This city, like many others like it, finds itself in a very difficult position. There doesn’t seem to be one clear answer on how to fix this situation. Now is a great time to look at what is happening here.

Let’s check it out!

New Jersey’s Sports Betting Industry Continues to Thrive

Many credit New Jersey for being one of the states responsible for getting the Supreme Court to strike down PASPA. Almost immediately after the court’s decision, New Jersey worked to get its sports betting operations up and running. There are now many different online and land-based sportsbooks operating in the state.

This has ended up being an extremely valuable industry during 2020. The land-based casinos over in Atlantic City are having a hard time bringing in players. Online sports betting options, however, have reached a new level of popularity this year.

All of these internet sportsbooks are bringing the state much-needed revenue. Throughout the year, these sportsbooks have set record-handle earnings. This was true once again during the month of November.

That month, all of New Jersey’s sportsbooks saw $931 million in bets placed. It’s a staggering number that shows how quickly this industry is growing. During October, this state saw $803 million in sports bets. Casino revenue, unfortunately, took a major dive last month.

It may be a while before the land-based sportsbooks here get back to a level they were in 2019. Casino companies in the state are now focusing almost primarily on offering more internet sports betting options. It will be interesting to see whether or not revenue from this industry continues to increase as 2021 begins.

Some experts predict that next year will be a great one for the casinos in New Jersey. We’re beginning to see more of these casinos here increase their entertainment options.

Casinos Begin Offering More Entertainment Options in Atlantic City

Tourism figures in Atlantic City have been bleak for much of 2020. There’s no real way to fix things, as intense travel restrictions remain in place throughout the country. It could be months before we begin seeing travel become more widespread.

Under normal circumstances, there are a huge number of fantastic shows and events taking place in Atlantic City. Many were forced to be canceled back in March and have yet to resume.

Fortunately, we’re seeing a slight increase in the number of entertainment options in Atlantic City lately. In recent months, Resorts Atlantic City has started offering a wide range of new electronic roulette games and fun “slots tournaments” that take place every weekend. Hard Rock Atlantic City has started offering live music performances again.

Every casino is taking its own approach to getting back to normal. All are trying to ensure their guests can have fun in the safest possible setting. Resorts AC CEO Mark Giannantonio is hopeful that 2021 proves to be a better year for the industry.

“By next summer, hopefully there already is a vaccine, and we’ll all feel a lot better than we did before,” Giannantonio said. “But this town has always been about evolution. And as crazy as this has all been, our casinos have proven once again that we are adaptable.” 

That might be the best way to describe casino companies this year. Adaptable. Without the ability to change with the times, these properties would already have gone under. Other casino destinations are taking their own approaches to get things back to normal.

Some US Casino Destinations See Major Revenue Drops

This has been the toughest year for casino companies in history. Some parts of the country have casino industries that are faring better than others. Those with regulated online gambling options, in particular, seem to be handling this situation the best.

Things have been far from ideal over in Las Vegas. The casinos in this city have seen major drops in their revenue and visitation rates over the past few months. As a result, many have recently closed their operations during the weekdays.

In November, the casinos in Las Vegas managed to bring in just $639.8 million. The ones located on the Las Vegas Strip saw just $349.8 million in revenue. It’s one of the worst months thus far in 2020.

Massachusetts is also home to a struggling casino industry. All of the casinos here reported extremely low earnings during the month of November. In fact, MGM Springfield had its worst month since opening to the public in 2018.

It’s a tough situation for casinos around the world. Hopefully, the distribution of vaccines helps to bring major casino destinations more visitors next year. Stay tuned for updates.

Do you plan to check out any of the entertainment options in Atlantic City next year? Let us know in the comments section below!

You Can Now Bet on the Auction to Demolish Trump Casino

Trump Plaza Casino

For years, officials in Atlantic City have been calling for the demolition of the Trump Plaza Casino. This gambling property has been closed since 2014. Now, Atlantic City is setting an auction to demolish Trump Casino.

It’s an interesting time for Atlantic City’s casino industry. Today, we’ll discuss the upcoming Trump Casino demolition. We’ll also check out some of the odds available for this historic moment for the city!

Let’s get into it!

Looking Back at the History of the Trump Plaza Casino

The Trump Plaza Casino first opened its doors back in 1984. At that time, Atlantic City was still a small, developing casino industry. This venue became an instant success and began attracting high-rollers from around the country.

In the late 1980s, this property started dipping into the entertainment business. Trump Plaza decided to host WrestleMania IV and WrestleMania V, two events that ended up being huge hits. Things appeared to be going extremely well for this property.

Unfortunately, the upward trend began to change in the early 90s. Around this time, the Trump Taj Mahal opened its doors in Atlantic City. This sister property became one of the Trump Plaza Casino’s biggest competitors and took away from much of the venue’s player base.

In 1995, Trump gave ownership of this venue to one of his publicly traded companies, Trump Hotels & Casino Resorts. This company worked to expand the Plaza in an attempt to draw in more players.

This didn’t work out as planned. By 2011, Trump Hotels announced it would either need to sell or completely renovate this gambling venue. The idea of a sale won out, yet all attempts to hand the venue over failed. In 2014, the Trump Plaza Casino officially closed its doors for good.

Many have been calling for the demolition of this property over the years. That is finally set to take place in 2021.

Here’s How to Bet on the Auction to Demolish Trump Casino

Some of the top officials in Atlantic City have confirmed that the Trump Plaza will officially be demolished next year. It’s a big moment for this city and could finally allow for another casino to open its doors here. Interestingly, city officials have allowed companies to bid on the right to demolish this property.

As you might expect, a large number of companies are interested in securing the rights to take this venue down. Some of this might be politically motivated. Others may simply want the marketing that would come with this demolition.

Atlantic City Mayor Marty Small Sr. has confirmed that the bidding process has already begun. He is hoping to see $1 million come in from this bid. The money will be used to fund the local chapter of the Boys & Girls Club of America.

The mayor claims he’s being “bombarded” with calls on how to bid. BetOnline, one of the best online casino sites in the US, is now allowing its members to bet on the auction to demolish Trump Casino. There are some great odds on where this bidding process ends up.

Odds that this demolition auction ends up generating more than $1 million currently stand at -300. The odds that it produces less than $1 million currently stand at +200. Based on Mayor Small’s comments, it’s easy to see how the auction could easily surpass the $1 million mark.

This demolition, scheduled to take place sometime in February, will be a historic one. We’ll be sure to offer updates on which properties may be constructed here over the next few months!

Sports Betting Revenue Continues to Surge in New Jersey

Atlantic City is now home to some of the most popular casinos in the United States. In recent years, this city has gone through a sort of revival. Many credit the legalization of sports betting for the city’s recent success.

As many know, New Jersey’s sports betting industry has surged throughout 2020. Revenue from this industry has been increasing almost every single month. That was true once again during the month of November.

Last month, the state saw a new monthly sports betting handle record at $931.6 million. That’s a massive increase from the $803 million seen in October. This money is proving to be extremely valuable for the casino industry here.

Unfortunately, land-based casino revenue in Atlantic City has been plummeting throughout 2020. This situation seems to be getting worse as the winter months continue. Tourism into Atlantic City is plummeting and no one expects this to change anytime soon.

Some even fear that Governor Phil Murphy could order casinos in the state to shut down again. Covid-19 rates have been surging here in recent weeks. Without new regulations set in place, this could continue to get worse. We’ll continue offering updates on what is going on here over the next few weeks!

Do you plan to bet on the auction to demolish Trump Casino? How much money do you expect this auction to generate? Let us know in the comments section below!

AC Casino Revenue Plummets in November

Atlantic City Casinos

Atlantic City is doing everything it can to attract new gamblers right now. It hasn’t been easy, particularly with the intense regulations set in place by New Jersey state officials. This week, reports on AC casino revenue for the month of November were released.

As many predicted, the casinos here saw a major dip in revenue. It’s an unfortunate trend that could continue for months. Today, we’ll talk about exactly how much money the casinos in Atlantic City managed to bring in last month.

Let’s get into it!

New Jersey Officials Warn Of Upcoming Shutdowns

The state of New Jersey was hit extremely hard early on in the pandemic. This was one of the first states to implement intense shutdown measures. As the summer continued, these regulations began to loosen and many businesses opened their doors again.

Infection rates have begun to skyrocket here in recent months. As a result, Governor Phil Murphy announced a new set of regulations throughout the state. It took a major toll on businesses, yet another mass shutdown like the one seen back in March was not ordered.

That could change soon. Cases have continued to climb and state officials are now warning that shutdowns could be just around the corner. Murphy has indicated that this could take place shortly after the holidays.

This will make things extremely difficult for the casinos in Atlantic City. As many are aware, these gambling venues have struggled to bring in players throughout 2020. Another major shutdown could prove to be devastating for this industry.

Unfortunately, this seems more likely than ever. Casino companies in the state are now gearing up to close their doors once again. Hope is that the state finds a way to compensate these casinos for their trouble.

Even without a full shutdown, this industry is hurting. We’re beginning to hear how much money the casinos in Atlantic City brought in during November.

November’s AC Casino Revenue Drops Once Again

Throughout 2020, Atlantic City’s casino industry has seen massive revenue drops. Things began to improve as summer progressed, yet seems to be falling apart throughout the fall months. Many felt that November would see a large drop in revenue.

These predictions ended up being correct. New reports claim that AC casino revenue for the month of November dropped by 10%. The nine casinos in this city managed to bring in $260.86 million last month, down considerably from the $288.6 million in November of 2019.

Jane Bokunewicz, a prominent gaming analyst at Stockton University, offered some insight into what led to this major revenue decline to the media.

“Land-based gaming had gained ground in September and October. But, the start of a ‘second wave’ of COVID-19, followed by N.J. Executive Order 194, which, effective Nov. 12, required indoor food and beverage options to close between 10 p.m. and 5 a.m., likely contributed to the decline in November,” she said. “A much-needed holiday bump from Thanksgiving weekend, usually a busy time for casinos, was limited this year by travel restrictions between states and stern warnings about family gatherings.”

It’s not all doom and gloom, though. To the surprise of some, New Jersey’s sports betting revenue saw another monthly handle record at $931.6 million. The state’s online sports betting industry has proven to be hugely lucrative throughout the year.

The online gambling platforms in Atlantic City have helped to bring in some much-needed revenue. Of course, things are still far from perfect here. Many now fear that December could end up being an even worse month than the previous three.

We’ll continue offering updates on AC casino revenue throughout the winter!

Harrah’s Atlantic City is Set to Reopen Poker Tables

As we already mentioned, all of the casinos in Atlantic City have been working hard to bring in players this year. It hasn’t been easy, though, as many casinos have been forced to halt offering their most popular games. That includes Harrah’s Atlantic City, which shut down its live poker games back in March.

New reports claim that Harrah’s Atlantic City is set to begin offering its poker gambling options soon! The World Series of Poker-branded room here will officially begin accepting guests again on December 26. This will make Harrah’s the second casino in Atlantic City to resume its live poker gaming options this year.

This room is expected to remain open every day from noon to 4 am. Some fear that the proposed casino shutdowns by Governor Murphy could throw a wrench in these plans, though.

Officials within Harrah’s are trying to make things as safe as possible. Poker tables will be limited to just eight players. Polycarbonate dividers will also be installed at the tables to separate players.

We’ve seen AC casino revenue plummet in recent months. Things could continue to get worse throughout early 2021. That isn’t stopping casino operators like Harrah’s from trying to bring in new players right now.

Are you surprised to see casino revenue drop again in Atlantic City? When do you expect things to turn around here? Let us know in the comments section below!

Atlantic City’s Third-Quarter Revenue Fell by 37%

Atlantic City Casinos

New Jersey’s casino industry is one of the biggest in the United States. Unfortunately, the events of 2020 have been extremely hard on the casino companies operating here. New reports have just come out that show Atlantic City’s third-quarter revenue fell by 37% this year.

It’s an astounding drop to see. Unfortunately, some believe that the year’s fourth-quarter earnings may drop even more. Today, we will take a look at which properties managed to bring in the most money.

Let’s get into it!

Governor Murphy Claims New Regulations Could Be Coming Soon

This has been a remarkably difficult year for state leaders around the country. Governors are being forced to implement measures that have a massive effect on the local economy. Trying to protect public safety while keeping the economy afloat is proving to be extremely difficult.

Unfortunately, Governor Phil Murphy has been warning that additional regulations could soon be on their way. New Jersey has been seeing a sharp increase in Covid-10 cases recently. This past Monday, an additional 4,790 cases were recorded in the state with 16 new deaths.

Murphy has already implemented several new regulations over the past few months. Many of these have targeted casinos. Earlier this month, he started ordering casino restaurants to stop offering indoor dining past a certain time.

Many now fear that the casinos in Atlantic City could be forced to completely shut down. Several different states have recently shut down their casinos. Unless New Jersey’s infection rate begins to drop, this could be coming here, as well.

More regulations will have a serious impact on the casino industry here. As many know, the casinos in this state have been hurting badly over the past nine months. No one knows how things will look in the future.

We’re now beginning to see how much money the casinos in New Jersey lost over the months of July, August, and September.

Here’s Where Atlantic City’s Third-Quarter Revenue Stands

Many analysts have been eagerly waiting to see how the casinos in New Jersey managed to fare during 2020’s third quarter. We’ve seen several other major casino destinations release their revenue reports recently. This week, New Jersey did the same!

Things are about as bleak as many predicted. The casinos in New Jersey saw a massive 37% drop in revenue during the year’s third quarter. Capacity limits and other intense regulations have contributed to this large drop in earnings.

Overall, the casinos in this state brought in just $150.5 million over the months of July, August, and September. The vast majority of casinos here saw a large drop in earnings. Only the Ocean Casino Resort, previously one of the worst-performing casinos in the state, saw a revenue increase.

Jane Bokunewicz, coordinator of a gambling and tourism institute at Stockton University and respected gaming analyst, spoke about this drop to the media this week.

“The data released today confirms what many have already suspected: The current public health crisis has both suppressed consumer demand for brick-and-mortar casino gaming and related amenities, and increased the costs of operating these services,” she said. “This is a devastating equation for casino operators and their employees.”

Hard Rock Atlantic City’s gross operating profit fell by 14.3%. Tropicana AC saw a massive 43.8% drop in revenue. It’s an extremely difficult time for all of the casinos operating in the state of New Jersey.

We’ll continue offering updates on any additional regulations placed here over the next few weeks!

Nevada Casinos Are Now Limited to Just 25% Capacity

Things aren’t much better over in Nevada. This state remains the biggest casino destination in the country. Unfortunately, casino revenue has been dropping considerably this year and is likely to drop even further over the next couple of months.

Over the weekend, Nevada Governor Steve Sisolak announced a new set of regulations on different businesses. Many of these regulations are directly targeting casinos. Under the new state rules, Nevada’s casinos can only operate at 25% capacity.

Sisolak understands the impact of these new regulations. He also understands that something needs to be done to lower infection rates in the state. It seems likely that these new rules will have an impact on tourism into the city.

The new rules put an end to all of the major entertainment shows in Las Vegas. Many of the major casino-resorts on the Las Vegas Strip were set to resume their big shows. These will now be put on hold for at least the next three weeks.

The US casino industry is being put to the test like never before. Hope is that new regulations help to lower infections around the US. Stay tuned for more news on the casino rules being set in place over the rest of the year!

Are you surprised to see where Atlantic City’s third-quarter revenue stands? When do you think things will begin to improve here? Let us know in the comments section below!

The Sale of Bally’s AC Has Officially Concluded!

Bally's Atlantic City

Back in April, news broke that Caesars Entertainment was selling Bally’s Atlantic City to Twin River Holdings. It was one of the largest acquisitions for Twin River as a company in its history. New reports claim that the sale of Bally’s AC has now officially concluded.

Twin River is now going by Bally’s name. This company has worked hard to expand around the United States over the past few years. Today, we’re going to talk about what this sale means for Atlantic City moving forward.

Let’s get into it!

Caesars Entertainment Has Undergone Some Major Changes Recently

The name Caesars is synonymous with flashy hotels and casinos. This company was founded back in 1990 and quickly took control over some of the biggest and best gambling venues in the country. Over the past decade, however, the company began seeing large revenue declines.

In 2019, news broke that Eldorado Resorts paid an astounding $17 billion to acquire Caesars Entertainment. It was the largest casino sale in history. As many expected, however, it took more than a year for this deal to go through.

In order to gain approval from state gambling commissions and the SEC, both of these companies needed to make some major changes. Much of that centered around casino sales. Commissions wanted to ensure that this merged company would not form a monopoly.

This merger has been completed and things seem to be running smoothly. Not long ago, the new Caesars purchased Willaim Hill for more than $3 billion. This was done in an effort to break into the fast-growing US sports betting industry.

Caesars has also sold many of its properties recently. To the surprise of analysts, the company allowed Twin River to take control of its Bally’s brand name. Twin River is now known as Bally’s Corporation and is focused on expansion, too.

We’re set to see some big changes with Bally’s casino in Atlantic City sometime in the near future.

The Sale of Bally’s AC Has Finally Concluded!

As we just mentioned, Caesars Entertainment has gone through several major casino sales over the last year and a half. The company announced it was selling Bally’s Atlantic City to Twin River Holdings back in April. This sale was instrumental in Caesars getting its merger approval from the New Jersey Gaming Commission.

A major casino sale like this cannot happen overnight, though. There were several hoops that both Caesars and Twin River (now known as Bally’s Corporation) needed to jump through. Fortunately, this sale has now officially concluded.

The acquisition price for this venue was $25 million. That’s a good deal when considering the venue is situated in one of the country’s biggest gambling destinations. Historically speaking, however, Bally’s Atlantic City is one of the worst-performing casinos in New Jersey.

Officials within Bally’s Corporation are confident they can turn things around. Earlier this month, the company pledged to invest more than $90 million towards renovations for this venue. The goal is to make this the best new gambling venue in the city.

George Papanier, President and Chief Executive Officer of Bally’s Corporation released a statement this week on the final sale of this venue.

“We strongly believe in the potential of the Atlantic City market and are confident that we can restore Bally’s to its former glory,” he said. “We are pleased to close on this transaction, which represents the latest addition in our ongoing portfolio diversification strategy, and look forward to implementing our capital improvement plans to completely renovate the property with first-in-class amenities and offerings. We have a proven track record of implementing strategic initiatives at acquired properties in order to drive growth and revenue improvements, and plan to bring the iconic property to a level not seen in years.”

This is one of the biggest moves for Bally’s Corporation in years. Atlantic City has been improving massively over the years. 2020 has halted much of the progress being made, yet many analysts expect things to recover next year.

New Jersey’s Online Gambling Revenue is Holding Strong

The country’s land-based casino industry has been hurting badly this year. For months, all casinos around the US were completely shut down. Many, including some of the ones in Las Vegas, have remained closed to this day.

New Jersey started allowing its casinos to open again in July. Like casinos in other states, these venues struggled to attract players. As time went on and regulations were lifted, more people began flocking to Atlantic City.

Land-based casino revenue remains low, even with the uptick in tourism. Fortunately, New Jersey has a regulated online sports betting and casino gambling industry. These online gaming platforms are bringing the state some much-needed revenue right now.

New Jersey is proving how valuable these online gambling options can be. In October, for example, the state broke its own all-time revenue record for sports betting and online casino gambling. Many other states are now looking more into the regulation of these gambling options.

Many expect additional regulations to begin hitting the casinos in New Jersey. Earlier this month, Governor Murphy began ordering casino restaurants to close at night. He has warned that if things do not recover, the casinos here may be forced to shut down again. With the sale of Bally’s AC now finalized, everyone hopes that things are better here by the time the venue’s renovation is complete.

Are you excited to see what Bally’s Corporation does to its new casino in Atlantic City? Do you think the casinos in New Jersey will need to shut down again? Let us know in the comments section below!

Legal Atlantic City Sports Betting Sets Records As Casinos Continue To Struggle

Atlantic City Casinos
Atlantic City’s sports betting and online gambling numbers continue to make up for the decline in the revenue of the city’s nine brick and mortar casinos.

Atlantic City casinos reported a year over year decrease of 8% in Gaming wins for the month of October. However, online gaming revenue increased by more than 106% last month, contributing a total of $93.45M to the total monthly revenue of the industry. The total gaming revenue for the month of October, per the state’s Division of Gaming Enforcement, was $304M.

Atlantic City Casino Control Commission chairman James Plousis gave credit to the gambling industry’s October 2020 performance during these difficult times. Said Plousis:

“During this time, Atlantic City continues to show resilience in the face of necessary and ongoing restrictions on capacity, amenities and entertainment.”

Impact of the Pandemic

The decrease in the revenue from table games and slot machines shows the impact of the COVID-19 pandemic in Atlantic City casinos. These brick and mortar gambling places were forced to close for 107 days beginning March 16th. They were allowed to reopen in early July but the capacity limitations, travel restrictions, and national recession have resulted in the decline of casino win in every month.

Atlantic City casinos reported $186.1M in casino win for October 2020. That amount is short of at least $16M from the total for October 2019. Of the nine Atlantic City casinos, only the Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort, reported an increase in casino win for October 2020.

Through the first 10 months of 2020, the total gaming revenue and casino win have decreased by 23% and 46% respectively, compared to the same period last year. With two months left in the year, it’s unlikely that this year’s revenue will match 2019’s high of $3.29B in total casino industry gaming revenue.

Sports Betting Sets Records

While Atlantic City casino revenues continue to struggle, AC’s sports betting industry continues to set records. Sports gamblers wagered a record $803M during the month of October. These included bets placed at brick and mortar casinos, Atlantic City online gambling sites, and the city’s three racetracks.

Legal Atlantic City sports betting benefited from the MLB’s World Series and the NBA Finals which were both held last month. Likewise, the the NFL and NCAA college football started their respective seasons in October. As a result, October’s monthly handle easily bested the previous record of $748.6M set in September 2020.

New Jersey’s sportsbooks have taken nearly $4.1B in legal sports bets on a year to date basis. This has put the Atlantic City sports betting market on pace to break Nevada’s single-year record of $5.3M in sports wagers made .

Atlantic City Casino Restaurants are Ordered to Shift Hours

Atlantic City Casinos

The US casino industry continues to get hit with tough regulations. Most recently, state officials in New Jersey have begun setting new rules towards the casinos in Atlantic City. Moving forward, Atlantic City casino restaurants will need to close their indoor operations by 10 pm every night.

It’s a tough blow for these venues. Fortunately, the state isn’t requiring a complete shutdown. Today, we’re going to talk about why these new rules are being set in place.

Let’s get into it!

Sports Betting Remains Hugely Profitable for New Jersey

Many credit New Jersey with helping to revolutionize the US sports betting industry. Almost immediately after PASPA was struck down back in 2018, this state officially legalized and regulated this industry. It’s already proving to be hugely profitable for the state.

We’ve been covering the growing sports betting revenue figures in New Jersey for months. To the surprise of many, these figures have increased throughout 2020. The sportsbooks here have seen their handle hit all-time records in both August and September.

It’s fantastic news for the state. New Jersey taxes sports betting revenue at 8.5% for land-based bets, and 13% for online sports wagers. As more revenue comes in, the state earns more money via taxes. This money goes to fund various public projects.

NFL betting is helping to fuel much of this revenue increase. We’re now in week 10 of the regular season. A huge amount of money is being placed on the regular-season games every single week.

Sports betting has helped to lessen the blow that casinos are feeling this year. As many already know, casino revenue has been much lower in 2020 than it was last year. No one can accurately say when land-based casinos will begin seeing their revenue figures reach pre-pandemic levels.

This week, a new regulation was announced that could have an effect on tourism rates in Atlantic City.

Gov. Murphy Orders Atlantic City Casino Restaurants to Change Hours

New Jersey was one of the worst-affected states from the pandemic early on. For months, nearly the entire state went into lockdown in an attempt to lower infection numbers. This proved to be devastating for Atlantic City and the thousands of individuals employed here.

Finally, in July, Governor Murphy gave the green light for the casinos in this city to begin operating again. As the weeks went on, more of the gambling properties began opening their doors. Today, all of New Jersey’s casinos are operational again.

Unfortunately, New Jersey has once again begun seeing a large spike in Covid-19 cases. As a result, the Governor has been forced to implement heavier restrictions. News has just broken that, beginning on Thursday, all Atlantic City casino restaurants will need to close their indoor operations by 10 pm.

This could affect tourism rates into the city. Many complain this measure does not make sense given the relatively low infection rates in Atlantic City. The Chamber of Commerce Southern New Jersey offered a statement on this new measure to the media this week.

“The CCSNJ respects Gov. Murphy’s decision to enact additional restrictions as the state again sees COVID-19 cases rise. However, the CCSNJ is disappointed that the governor has once again taken a statewide, one-size-fits-all approach, refusing to consider the vast disparities in health metrics throughout different geographical areas of the state,” the statement said. “The health and safety of New Jersey residents should always be the first priority, but there is no harm in assessing the data and making smart health and economic decisions that do not treat every area of the state similarly when the health data supports that approach.”

Casinos may be thankful that another shutdown wasn’t ordered. For now, these venues can continue operating at limited capacity. We’ll offer more updates on the situation here over the next few weeks.

Are More Regulations Coming to Las Vegas?

In some ways, Las Vegas has been the city hardest-hit by the pandemic. So much of the economy here relies on tourism. Even today, tourism numbers are down considerably from what they were in 2019.

The casino companies operating here are certainly feeling the effects. Many have been forced to lay off thousands of employees. Some, including Encore Las Vegas, have started changing their operating hours as a way to save money.

Many fear that new regulations will soon be announced here. Infection rates have been increasing in recent weeks. State leaders will need to weigh the pros and cons of implementing health protocols.

Doing so could prove devastating for the gambling and tourism industry in Las Vegas. We’ll need to wait and see what ends up taking place in this city. Hopefully, the casinos can remain open while keeping things as safe as possible for employees and patrons.

Beginning on Thursday, all Atlantic City casino restaurants will need to stop operating indoors at 10 pm. This measure will remain in place until further notice.

Are you surprised to see more regulations set in place in New Jersey? Do you think this new rule will affect tourism here? Let us know in the comments section below!