Here’s What We Know About the Atlantic City Casino Thefts

Atlantic City Casinos With Check And Handcuffs

Atlantic City remains one of the biggest and best gambling hubs in the United States. Occasionally, these gaming venues draw attention from criminals. New reports surfaced this week that provide more information on the Atlantic City casino thefts that took place over the summer.

The casino companies operating in Atlantic City have dealt with a lot over the past year. Now is a great time to talk about the recent thefts that took place at some of the casinos here.

Let’s get into it!

More Details on the Atlantic City Casino Thefts have Just Surfaced

There has been a huge amount of attention placed on Atlantic City’s casino industry over the past nine months. To the surprise of some analysts, the gambling venues here experienced a massive comeback from the events that unfolded in 2020. Gambling revenue has been increasing here and tourism into the city remains high.

Not everything goes perfect for these casinos, though. Over the summer, reports surfaced that a group of individuals had attempted to steal a large amount of money from several of the casinos here. This week, more details on the recent Atlantic City casino thefts were released to the public.

Five individuals have now been charged with trying to steal an astounding $1.1 million from the casinos here. Prosecutors claim these individuals passed fraudulent checks in their attempt to take this money. Suspicions were raised in late August and it didn’t take long for casino officials to recognize the crimes being committed. Acting New Jersey Attorney General Andrew Bruck commented on this situation to the media this week.

“The defendants were caught executing a sophisticated financial scheme spanning multiple casinos and over a million dollars in fraudulent checks,” Bruck said. “This case is just one example of the excellent work — in this instance across international borders — performed by the members of the New Jersey State Police and Division of Criminal Justice who are assigned to investigate and prosecute crimes in the casinos.”

All five of the defendants involved in this case face serious charges. If convicted, they each face up to 10 years in prison. We’ll be sure to offer more updates on this situation over the next few months.

Sports Betting Revenue Continues to Surge in New Jersey

New Jersey is widely credited with being one of the states responsible for having PASPA removed. Officials here quickly approved sports betting legislation following PASPA’s removal in mid-2018. Since that time, New Jersey has developed the largest and most successful sports betting industry in the United States.

Sports betting revenue has been surging in this state through most of 2021. Things took a slight dip over the month of August. As many predicted, however, September proved to be one of the most successful months in history for the sports betting industry here.

Over the month of September, the sportsbooks here saw more than $1 billion wagered. Of that handle, $82 million was kept by sportsbooks. Those are outstanding figures for this industry that prove that sports betting continues to grow more popular every year.

Casino revenue is up in the city, as well. In-person casino revenue is up 30% when compared to September of 2020. $248.5 million was brought in from the state’s casinos. $122.5 million was brought in through the state’s online casino platforms.

Just about everyone involved with Atlantic City’s gaming industry is happy right now. Hope is that the upward trend continues through the rest of 2021. Stay tuned for more reports on the revenue figures here as the year continues.

More States Report Gambling Revenue Increases

Atlantic City has been the most profitable gambling hub on the East Coast for decades. This city is beginning to experience more competition from neighboring areas, though. Several states in the Northeastern US have recently begun to expand their gambling laws and are working to bring in more tax revenue from casinos and sportsbooks.

Massachusetts is one of those states. Casinos have been operating here for nearly a decade. There are now three casino-resorts in the state, all of which help to bring the state large amounts of tax revenue each month.

Reports came out today claiming Massachusetts’ casino revenue hit a three-month high over July, August, and September. The month of July proved to be the most successful, as the casinos here brought in more than $95 million. August came next at $92 million. September saw just a slight step down as the casinos managed to bring in $89 million.

New York’s lawmakers continue debating whether or not a Class III casino should receive permission to open in New York City. Many claim it will help to boost tax revenue and tourism. Others worry it will lead to gambling addiction and other social issues within the city. More information on this proposed casino is expected to come out shortly.

Are you surprised to hear about the Atlantic City casino thefts? Which state is best suited to compete with Atlantic City’s casino industry? Let us know in the comments section below.