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!