New Jersey remains the biggest and most profitable gambling destination on the East Coast. It seems that 2021 is proving to be an exceptionally good year for the casinos here. Today, we’ll take a close look at New Jersey’s casino revenue figures through the first seven months of the year.
The casino companies here have reason to celebrate. Some fear still remains that the spread of the Delta variant could end up halting the progress being made here.
Here’s what you need to know!
Most US Casinos Avoid Major Restrictions
There has been a huge amount of attention put on the US casino industry over the past two years. For months in 2020, this industry was completely shut down. Casinos began to reopen over the summer of last year, yet tourism rates to casino hubs remained extremely low.
This was largely due to the restrictions set on casinos around the country. Health experts ordered casinos to implement measures such as mask mandates and significantly reduced capacity limits. On the casino floor, plexiglass barriers were installed to separate players.
Most gambling fans chose to avoid casinos while these restrictions were set in place. Once these rules were lifted, however, tourism rates to casino hubs have been rapidly increasing. That has been apparent throughout 2021.
In recent months, a new Covid-19 variant has been spreading around the country. This Delta variant has been worrying health experts and has led to a new surge of cases. Some casino hubs have ordered a limited set of new rules including mandatory mask-wearing on the casino floor.
Fortunately, none of the serious restrictions set in place last year have been set in any US casinos. State officials recognize how devastating this will be for casino companies and the cities these venues are in. It seems unlikely that these types of regulations will be set in place at all.
Things are still going very well for casinos around the country. That is more apparent than ever after new revenue reports have been released. Here is a quick look at how much money the casinos in New Jersey have been able to generate recently.
Breaking Down New Jersey’s Casino Revenue Figures
Atlantic City was one of the cities truly devastated by the mass casino shutdowns in 2020. Officials in this city were instrumental in getting casinos reopened. The economic situation here has changed recently and casinos are seeing consistent increases in their earnings.
Not long ago, reports surfaced that shed light on New Jersey’s casino revenue figures over the course of the year. These reports give the casinos in the state reason to celebrate. In fact, 2021’s second quarter was the best in history for Atlantic City’s casinos.
The American Gaming Association has confirmed that the casinos in Atlantic City managed to bring in $13.6 billion in gross gaming revenue in 2021’s Q2. Total gaming revenue in the state is up more than 30% when compared to 2019. Jane Bokunewicz, an official within the Levinson Institute for Gaming, Hospitality, and Tourism at Stockton University, offered some insight into what has led to this revenue surge this week.
“When they lifted the restrictions (this spring) a lot of the amenities still had not returned to normal. Like the concerts, the shows, the conventions. All the special events had just started coming back online,” Bokunewicz said. “From February on, each month was a little better than the previous month, so people are returning to the casinos and we’ve seen that the internet gaming has stabilized.”
This trend of major revenue surges is likely to continue as the year goes on. That is, of course, assuming that casinos are not ordered to shut down again anytime soon.
Things appear to be going smoothly over in Las Vegas right now, as well. Now is a great time to look at how the casinos in this gambling hub are faring so far this year.
Nevada Continues to Break the $1 Billion Monthly Revenue Point
No city was as economically affected by the events that unfolded last year as Las Vegas. The country’s biggest gambling hub has since recovered and continues to set new revenue records. This past June, Nevada’s total gaming revenue once again passed the $1 billion point.
In total, gambling revenue in the state came out to $1.19 billion. That represents a slight dip from the state’s all-time high of $1.23 set in May. It’s still a very impressive figure and one that gives the casinos here reason to be optimistic.
Slots have been one of the primary driving forces in these revenue surges. Slot games have grown considerably more popular over the past year. This past June, slots in Nevada managed to bring in $868.1 billion.
The opening of new properties has also led to a tourism boom in cities like Las Vegas. It wasn’t long ago that Resorts World Las Vegas finally opened to the public. At $4.3 billion, this is the most expensive casino-resort ever built in the city.
2021 is shaping up to be the best year in history for the US casino industry. Tens of billions in total gross gaming revenue have already been brought in. Stay tuned for more updates on these revenue figures as the months go on.
Are you surprised to see New Jersey’s casino revenue continue to increase? Will 2021 be the most successful year in history for the US gambling industry? Let us know in the comments section below.