For many years, Atlantic City has been home to the most successful casino industry on the East Coast. The growing gambling industry in New York threatens that status, though. This situation has led many executives to push for Atlantic City casino upgrades to begin.
Atlantic City remains a very popular gambling hub and officials here want things to remain that way. Now is a great time to look at some of the casino improvements that could take place here soon.
Let’s get into it!
Executives Call for Atlantic City Casino Upgrades
The casino industry in New Jersey was forced decades ago. Atlantic City grew quickly, drawing in a huge number of residents from neighboring states to its popular casinos. The success of the state’s casino industry has fluctuated over the past few decades and is coming off its best-ever year in 2021.
Lawmakers in New York have begun pushing hard to allow new forms of gambling over the last few years. The first online sportsbooks went live in this state in early January. They broke an all-time monthly handle record in that first month of operating and many officials in New York are now pushing to allow new casinos, too.
This has led more executives in New Jersey to push for Atlantic City casino upgrades. City officials also want to see general infrastructure improved as a way to draw in more tourists. That includes Atlantic City Mayor Marty Small, who spoke about the necessary city improvements to the media this week.
“We need to see some funding from the state and some real planning from the city,” Small said. “The streets need to be paved. There needs to be more light. There needs to be more police on the streets.”
Many of the casinos here have been undergoing renovations over the past two years. Most experts predict more of these renovation projects to be announced over the course of 2022. Stay tuned for more updates on these projects as the year goes on.
More Officials Call to See a Casino in New York City
Up until fairly recently, New York was considered a largely anti-gambling state. State officials worked to prohibit basic forms of gambling for decades. A law was passed in 2013 to allow commercial casinos in the state and the first regulated sportsbooks arrived here in 2019.
New York lawmakers are working hard to generate more tax revenue right now. Allowing more regulated gambling options is a great way to achieve that goal. Growing the state’s casino industry, in particular, is a priority for many lawmakers.
A growing number of state officials now support a casino in New York City, too. There are currently no Class III gambling venues in the city. Many casino operators were quick to express interest in opening the first casino in the Big Apple.
Many steps would need to be taken in order for casino plans like these to gain approval. That includes approval from voters in the state. Support for these plans is increasing, though, leading many to believe that construction on this NYC casino could begin before the end of 2022.
Gambling revenue figures are being released around the country for the month of February. Below is a quick look at how much money different states have brought in last month.
Breaking Down the Latest US Gambling Revenue Reports
The entire US gambling industry managed to thrive over the course of 2021. That came as a slight surprise to some, as 2020 was the worst year in history for this industry. Analysts are now torn as to how 2022 will be for this industry.
The pandemic seemingly becoming under control seemed to indicate that things would continue to improve for various gambling operators around the country. Russia’s invasion of Ukraine has once again led to drops in the US stock market. This is an ongoing situation with potentially major implications for the US economy, depending on how things play out.
February still proved to be a solid month for many state gaming industries. Over in New York, online sportsbooks managed to bring in $91.7 million in gross gaming revenue. A total of $1.54 billion was wagered through these online sportsbooks over the month.
West Virginia is one of the only other states to already release gaming revenue reports for February. Betting handle in February came out to $222,235,429 here. This marks a more than 15% increase from January and an even larger year-on-year increase.
Officials want to see Atlantic City casino upgrades this year. Do you think New York’s growing gambling industry will affect the one in New Jersey? Let us know in the comments section below!