Atlantic City’s Casino Industry is Hurting Badly

All casinos in the United States are officially shut down right now. It’s been devastating for many cities that rely on tourism and gambling revenue to operate normally. According to new reports, Atlantic City’s casino industry is losing an incredible amount of money every single day.

Sky View Of Atlantic City

It’s a tough time for this city, and many others around the country. Today, we’re going to discuss exactly how much money gambling venues in New Jersey are losing. We’ll also look at some other cities that are suffering due to casino shutdowns.

Let’s get into it!

Casinos Around the Country Are Still Shut Down

Just a few months ago, the US casino market was extremely strong. Many states were experiencing huge surges in gambling revenue and many new casinos were popping up around the country. Unfortunately, every single land-based casino in the United States is now officially closed due to the spread of Covid-19.

As this virus began to spread, more states started implementing tough regulations. Unsurprisingly, this involved closing down casinos. The entire US casino industry is now essentially closed down and it’s unclear when these gaming venues will open up again.

This is extremely troublesome for some parts of the country. Nevada, for example, is known to rely heavily on its gambling industry. All casinos in the state are now closed down and tourism into Las Vegas is the lowest it’s ever been.

It’s a very unusual time. Many US casino companies are losing a huge amount of money. Some expressed hope that Macau would help to make up for this revenue loss. Unfortunately, even Macau is seeing extremely low revenue earnings right now.

New Jersey has one of the biggest casino markets in the country. The casinos in Atlantic City draw in visitors from many nearby states. New reports are now shedding light on how much money these casinos are losing right now.

Atlantic City’s Casino Industry is Losing Millions Right Now

About a decade ago, Atlantic City was on the brink of collapse. The recession had taken a major toll on this city and several of the biggest gambling venues in the city were forced to close their doors. Since that time, Atlantic City has slowly recovered and has been posting incredible revenue figures for the past few months.

The legalization of sports betting certainly helped things. New Jersey was one of the first states to allow this form of gambling. Now, both online and land-based sports gambling options are available here.

Now, things are beginning to decline here once again. The new coronavirus has led to New Jersey closing down its gambling venues. Atlantic City’s casino industry is now losing millions of dollars every single day.

No one really knew how bad things were here. New reports are beginning to reveal the extent of these new regulations. They claim that this shutdown is costing casino companies in Atlantic City more than $500 million every single month.

Clyde Barrow, a professor at the University of Texas Rio Grande Valley, commented on how things are looking to the media this week.

“We haven’t seen it play out yet, but if you look at the economic numbers that are going to start coming out in the coming weeks, this portends to be a worse economic downturn than we even saw in the great recession,” he said. “It will be the biggest blow to the casino industry that we’ve seen in a lifetime.” 

Hopefully, things begin to improve before too long.

How Are Other Cities Doing With These Regulations?

A huge number of industries are being devastated right now. This includes the airline industry, which is in desperate need of government aid. Obviously, some cities are being affected more by the casino shutdown than others.

Las Vegas is probably being hit the hardest by these new regulations. This city is home to one of the largest gambling industries in the world. It relies on its tourism and gambling market and right now, these are basically non-existent.

No one knows when things will recover in Las Vegas. Some analysts believe the economy here will bounce back in a major way once these regulations are removed. Others think this entire situation will change the city forever.

Atlantic City’s casino industry isn’t the only one on the East Coast that’s hurting. Over in New York, all gambling venues are completely shut down. This state is now the epicenter of this virus outbreak and it seems unlikely that casinos here will open anytime soon.

It’s a very difficult time for the land-based gambling industry. We’re all waiting to see whether or not regulations will be extended.

Stay tuned for more Atlantic City casino news over the next few months!

New Jersey Casino Bills Are Still Being Discussed

New Jersey, and Atlantic City, in particular, is home to a large and successful casino industry. Years ago, lawmakers presented plans to allow more gambling venues to open in the state. Recently, state officials have begun looking at several New Jersey casino bills once again.New Jersey

Some feel that adding new casinos will help to bring the state significantly more revenue. Others worry about the impact it will have on Atlantic City. Let’s take a look at what exactly may be changing here.

Coronavirus Has Officially Hit New Jersey

There are many different gambling venues in New Jersey. Most consider this state the second-largest gambling hub in the country. Today, news broke that two cases of the coronavirus have been confirmed here.

It’s unclear exactly how many people in the US have already been infected with this virus. Estimates list it at around 200. Most feel the true number is significantly higher.

New York has already recorded several cases of the coronavirus. New Jersey now has several of its own. The second was confirmed to be a patient in his 30s. It’s unclear whether or not he managed to spread the virus to others.

Some worry about this virus hitting Atlantic City. Here, thousands of people are crammed inside massive casinos. These gambling venues are ideal places for the virus to spread from person to person.

This virus has the potential to significantly damage a state’s casino industry. Several major Las Vegas casino companies are already seeing their stock prices fall after reports of a coronavirus infection in Clark County. We’ll be monitoring the situation in New Jersey and reporting on how quickly it spreads.

Lawmakers Take Another Look at New Jersey Casino Bills

Back in 2016, several New Jersey politicians presented a bill that would allow for new gambling venues to be constructed outside of Atlantic City. The plan was to allow casinos in the suburbs near the border with New York. Some felt it would help to draw in most tourists.

Interestingly, lawmakers unanimously voted to reject these plans. Many felt this would take away from the revenue that Atlantic City earns. AC relies heavily on its gambling industry for money.

In January, another set of New Jersey casino bills was introduced that once again calls for the legalization of casinos outside of Atlantic City. Lawmakers are looking at this bill and feel it may be a way to prepare in case Atlantic City suffers some type of breakdown.

Ralph Caputo, a former casino executive in New Jersey, spoke about the bills to the media this week.

“We want to see Atlantic City succeed,” he said. “These bills are in case Atlantic City gets into trouble. The signal it sends is that we’re watching carefully to see if we need to act on this. But not at this time; I want to make that clear.”

The Casino Association of New Jersey still opposes these plans. It remains to be seen whether or not the plans will be approved.

Esports Betting Starts to Take Off in New Jersey

The popularity of Esports betting has taken off in recent years. This is especially true with younger people who enjoy watching video game streams through platforms like Twitch. Recently, lawmakers in New Jersey presented plans to start regulating Esports gambling.

This has been a long time coming. Many have asked state officials to present bills to allow Esports wagering, arguing that the revenue it earns the state would be massive. Now, this form of sports betting will be allowed during tournaments not involving minors.

The aforementioned Ralph Caputo commented on this decision, as well.

“This is the next big thing in gaming,” he said. “We want to be ahead of the curve on this. The millennial generation is into this in a major way.”

Esports betting is expected to be a massive success here. Soon, sportsbooks across the state will start offering odds on this new industry. We’ll get revenue reports on this industry soon.

The New Jersey casino bills are still being discussed by lawmakers. We’ll get a better idea as to how the state views these plans over the next few months.

It’s an interesting time in the state’s gambling industry. Stay tuned for updates over the next few months!

Gambling Revenue in Arkansas Surpasses Expectations

Arkansas has a large and successful gambling industry. Soon, the state’s casino and sports betting market may grow. New reports indicate that gambling revenue in Arkansas surged more than most analysts initially predicted.Arkansas

That’s fantastic, and slightly unexpected news. Today, we’re going to talk about how much revenue was made from the gambling industry here. We’ll also check out how the state’s gambling industry may expand.

Additional Casinos Set to Open in Arkansas in 2020

Some are unaware that Arkansas has a large and profitable gaming industry. Perhaps this is because it wasn’t always the case. Throughout much of the 20th century, lawmakers in this state worked to ban most traditional forms of gambling.

Eventually, state politicians began allowing Class II casinos here. These gambling venues were only legally allowed to provide electronic gaming machines. In 2018, officials approved amendment four, which finally allowed Class III gambling venues to begin operating. In 2019, a law was passed to allow sports betting in the state.

Today, there are three different casinos operating in Arkansas. Two of them are racinos, which offer both horse race wagering and casino games. Recently, several tribes in the state began pushing to open gambling venues in Arkansas.

The Quapaw Nation has worked to open a new Arkansas casino for years. Plans for a massive 500,000 square foot casino have finally been approved. Reports indicate this venue will open to the public in June of 2020.

More tribes here are also working to obtain a casino license in this state. Revenue from casinos here continues to grow. Here’s how much these venues brought in last month.

Gambling Revenue in Arkansas Surpassed Expectations in February

Ever since Class III casinos were approved in Arkansas, gambling revenue has surged here. It’s fluctuated before, yet has generally increased for the past two years. Reports from the State Department of Finance and Administration just released new revenue figures and things are looking great.

New reports claim that tax revenue from casinos here came out to $2.8 million in February. That’s about $300,000 more than analysts predicted. Most felt that the coronavirus would significantly hurt the state’s gaming market.

Officials in the state expect to earn $31.2 million from the gambling industry. That’s considerably less than the $69.7 million brought in last year. Much of the reason for this decrease is the state’s new gambling tax structure.

As more casinos open here, revenue is likely to increase. Money earned from the gambling industry will help to find new highways and roads in the state.

Lawmakers are looking for new ways to generate revenue from this industry. Unfortunately, the coronavirus may end up significantly lowering the amount of money the state makes from legal gambling.

Coronavirus Expected to Lower US Gambling Revenue

Over the past few weeks, cases of the coronavirus in the United States have skyrocketed. More than 100 individuals have already been infected and more than ten have died. Many believe the actual number of people infected with the coronavirus is far higher.

This is showing no signs of slowing down, too. Health officials believe this will continue to spread around the country. Containment efforts have proved extremely difficult.

The coronavirus will certainly take a toll on the US gambling industry. Many will not be willing to visit a crowded casino if there’s a chance for infection. For this reason, gambling revenue projections in Arkansas have fallen dramatically.

Many also worry about the impact this virus will have on Las Vegas. This city relies heavily on its gambling industry. If no one is visiting the casinos here, the local economy will suffer significantly. State officials are already gearing up for a possible coronavirus outbreak.

Gambling revenue in Arkansas may drop as this virus spreads. Last month, however, things went better than expected.

Stay tuned for more US casino news over the next few months!

Macau’s Casino Revenue Plummets Due to Coronavirus

Covid-19, the coronavirus that emerged in Wuhan, continues to spread around the world. This virus has already taken a massive toll on Macau. According to new reports, Macau’s casino revenue has plummeted due to officials closing down the city’s casinos.Revenue Drop Picture

This is beginning to hurt Las Vegas casino companies, too. Today, we’re going to talk about how much revenue was lost here last month. We’ll also discuss what’s in store for the future here.

Coronavirus Forces Casinos in Macau to Close Down

The Wuhan coronavirus, called Covid-19, first appeared back in December. Since that time, it’s gone on to infect more than 90,000 people and has already killed more than 3,000. Despite containment efforts, it’s spread to about 70 different countries.

Scientists are having a difficult time understanding this respiratory virus. It’s shown a unique ability to spread from person-to-person. Some claim that it’s reaching a pandemic level due to the fast spread around the world.

Covid-19 has taken a major toll on Macau’s economy. Back in February, officials in the city decided to close down all casinos in order to prevent more infections. This was a tough decision for the territory leaders, as Macau relies heavily on gambling revenue.

These casinos have since reopened. Government officials are requiring all staff and gamblers inside these gambling venues to wear face masks. Unfortunately, tourism in this city is at an all-time low and revenue is plummeting.

This isn’t surprising. Not long into the outbreak, analysts began to predict that Macau would be heavily impacted. Revenue reports are just coming out and it’s just now becoming clear how much of an impact the coronavirus is having here.

Macau’s Casino Revenue Was Lowest in History Last Month

Macau is one of the world’s biggest gambling hubs. A huge number of world-class casinos are located here, some of which are operated by major Las Vegas companies. Closing down these gaming venues had a significant impact on the territory’s economy.

Macau’s casino revenue dropped by 87.8% in February when compared to the same month last year. That’s the biggest drop ever recorded. This revenue decrease is directly related to the casino closures.

On the surface, things look pretty grim here. Not everyone is convinced that these revenue drops will continue, though. An analyst at JP Morgan Chase commented on the situation to the media this week.

“We do not think COVID-19 will curb gamblers’ enthusiasm… so its impact on the industry’s sustainable earnings power should be limited,” the analyst claims. 

That may be wishful thinking. Cases of the coronavirus are beginning to slow down in China. Unfortunately, infections continue to spread in new countries. With the casinos in Macau now reopened, it wouldn’t be a surprise to see new cases hit this territory.

Hopefully, Macau’s casino revenue bounces back in March.

How is the Coronavirus Affecting LV Casino Companies?

The coronavirus has already spread to several US states. In Washington, two people have been killed by the virus. Many feel that it’s just a matter of time until a major US city is hit.

As of now, no cases have been recorded in Las Vegas. That’s surprising to some, considering this is one of the most-visited cities in the country. That doesn’t mean that casino companies based here are unaffected, though.

As Macau’s casino revenue drops, so does that revenue that Las Vegas casino companies are earning. The closure of this territory’s casinos cost several companies millions of dollars every single month. Even now that they’re open again, revenue in this city remains incredibly low.

If the coronavirus begins to spread in Las Vegas, things will get considerably worse. Like Macau, the city of Las Vegas may begin forcing casinos to close their doors. That would be devastating to the local economy. Officials here are already coming up with ways to prepare for an outbreak of the virus.

It helps to be optimistic in this situation. Countries around the world are ramping up their containment measures. We’ll need to wait and see how long it takes for the virus to run its course.

Make sure to stay tuned for more updates over the next few weeks!

Wynn’s New Convention Center is Finally Open

In 2018, Wynn Resorts has discussed plans to open a brand new convention center and meeting space. This week, Wynn’s new convention center officially opened to the public. Today, we’re going to talk about what this new center has to offer.Wynn Las Vegas Casino Logo

Wynn Resorts is working on several new projects right now. 2019 wasn’t great for the company and as of now, things don’t seem to be improving. This is the perfect time to check out where the company is headed this year.

Let’s get into it!

2019 Wasn’t Great for Wynn Resorts

For decades, Wynn Resorts has been considered one of the best casino companies in the world. It was founded back in 2002 by Steve Wynn, who served as CEO until very recently. Things starting going downhill in early 2018, when allegations of sexual abuse against Steve Wynn began to surface.

Several women came forward with stories of misconduct by the powerful CEO. At first, he vehemently denied the allegations. Eventually, he stepped down and sold all of his shares from the company. He then tried to stay out of the public spotlight.

These allegations hurt Wynn Resorts’ reputation. The company eventually filed a lawsuit against Mr. Wynn and ultimately received $20 million from the former CEO. Wynn Resorts eventually decided to name Matt Maddox as the company’s new leader.

Maddox had served as president of the company since 2013. He was promoted to CEO in a position that was expected to last until February of 2021. In December, the company decided to extend his role until 2022. He seems to be doing a good job.

Wynn Resorts has also struggled with some of its overseas properties. Macau, in particular, has been a tough market for the Las Vegas-based casino company. This doesn’t mean things are slowing down, though.

As we mentioned earlier, this company just finally opened its new convention space. Here’s what it has to offer.

Wynn’s New Convention Center Has Bookings Through 2028

Las Vegas is one of the country’s top convention destinations. There are a huge number of major conventions here that draw in thousands of visitors every single month. Since 2019, construction has been underway on Wynn’s new convention center.

This massive property has now officially opened to the public. It’s one of the most impressive convention centers in the city, with two stories and 430,000 square feet of space. It’s actually an extension of the current Wynn Meeting and Convention Space and features an 83,000 square-foot ballroom.

According to company officials, this is already a major success. This new convention center already has bookings lined up until 2028. The new setting of this venue, located directly next to the Wynn Golf Club, is also exciting for many convention-goers.

Chris Flatt, executive vice president of hotel sales and marketing, commented on the opening of this venue to the media this week.

“We were scheduled to open in March and we have a very high percentage of repeat business here and had several customers of ours that literally wanted to be the first groups in the hotels,” he said. “We actually opened about three weeks earlier than anticipated.”

Wynn’s new convention center is open to the public and is already hugely successful. Several other major Las Vegas companies are scheduled to open new convention space, as well. Unfortunately, Wynn’s operations in Macau don’t seem to be improving.

Macau’s Casino Closures Costing Wynn Resorts Millions Every Day

Wynn Resorts operates a huge number of major casino-resorts all across the country. It also runs several major resorts in Macau. This city struggled to attract gamblers in 2019 and things don’t seem to be improving thus far into 2020.

Last year, Macau was hurting due to the US-China trade war and protests in Hong Kong. Now, the Wuhan coronavirus is taking a toll on the city. As a way to prevent infection, leaders in Macau decided to close down all of the territory’s casinos.

This is taking a serious toll on gambling operators here. Wynn Resorts claims that it’s losing between $2.4-$2.6 million every day due to these closures. CEO Matt Maddox isn’t concerned, claiming the company can withstand the losses.

It’s unclear how long this will last for. Death tolls due to the coronavirus are increasing, yet infection rates seem to be dropping. Hope is that officials in Macau manage to stop the spread of this deadly virus before it hits even more countries.

Things aren’t all bad. Wynn’s new convention center is up and running and will likely earn the company serious revenue. It wouldn’t be a surprise to see Macau reclaim its spot as the world’s most profitable gambling hub before long, too.

Stay tuned for more Las Vegas casino news over the next few months!

Detroit Casinos Report Record-Breaking $1.454 Billion in Revenue for 2019

MGM Grand Detroit CasinoDetroit’s three casinos set a record for adjusted gross revenue last year, earning $1.454 billion in 2019. According to the state, that amount tops the record $1.444 billion set in 2018, or a $10 million increase in revenue. Those three casinos are MGM Grand Detroit, MotorCity Casino and the Greektown. It was record-breaking years for both MGM Grand Detroit and MotorCity Casino Hotel.

This record casino revenue is also good news for the state of Michigan and the city of Detroit. The state saw just over $117.8 million in gaming taxes in 2019. This number was $800,000 more than what they accrued the previous year. Detroit was paid $184.2 million in wagering taxes and development agreements, compared to $182.9 million in 2018.

Slices of the Billion-Dollar Pie

With nearly 43% market share in 2019, MGM Grand Detroit blazed the trail in the Motor City. The casino made $623.5 million in revenue, 0.7% more than its record the year prior, according to the Michigan Gaming Control Board.

MotorCity Casino Hotel took the second-largest portion at 34% market share. Its revenue was $493.6 million, which is about 0.8% higher than the record it had set in 2018. And while MotorCity was in second place, the property still experienced year-over-year revenue growth on its way to record turnover.

The rest was from Greektown, which had revenue of $337.2 million and covered about 23% of the market share. That was up 0.6% from the previous year but fell short of its $352.8 million record in 2011, when the three casinos achieved a then-record of $1.4 billion.

Each casino saw a year-over-year uptick in fourth quarter revenue in 2019. Greektown’s increased 3.4% to $87.1 million, MotorCity’s rose 2.9% to $123.4 million and MGM’s ticked up 0.2% to $157.2 million.

MGM Grand Detroit Opens ‘Moneyline’ as a Money Move

The MGM Grand opened their new sports lounge, Moneyline, last October to position themselves on the future of sports betting in the state.

They designed Moneyline Sports Lounge to look and feel like a sports book you would see in Las Vegas. They did this to bring the Vegas experience to Detroit, and while sports gaming isn’t an option right now, that may not be the case for much longer.

Michigan house representative Brandt Iden has been pushing for legislative changes in sports betting for years. His efforts will go a long way when Moneyline will be able to achieve its full potential, as a Sports Book taking wagers for gamblers legally.

This was another smart, forward-thinking move for the industry-leading MGM Grand, one that if coupled with the legalization of sports betting, will undoubtedly garner in an even higher increase of revenue for the year.

A Good Year on the Horizon, Possibly

Michigan approved sports betting last December, and online and mobile wagering are part of that package.

Industry observers are divided on exactly when the sports betting will be ready for public consumption in the state. Some of the more ambitious timelines indicate its availability in the spring, sometimes after March Madness. Some of the more realistic estimates indicate that it could likely take all of 2020 for Michigan to get the sports betting bill ready.

But if sports betting in the state becomes available sooner rather than later, then Michigan is expected to see over $19 million in annual revenue solely from sports wagering.

Atlantic City’s New Year Celebrations Sound Incredible

2019 is just about to wrap up. Many on the East Coast are now trying to decide how to spend New Year’s Eve. From what we’re hearing, Atlantic City’s New Year celebrations are going to be incredible. Anyone in the area should check them out! Fireworks Show

Atlantic City is having a fantastic year. Gambling venues here have experienced revenue gains almost every single month. Today, we’re going to take a look at what’s happening in this city right now.

Gambling Revenue in Atlantic City Continues to Increase

Over the past year, we’ve reported on the rising revenue earnings in Atlantic City. For almost every month of the year, gambling venues here have experienced rising gambling earnings. Much of this is thanks to the legalization of sports betting.

In May of 2018, the US Supreme Court officially struck down PASPA. This gave every state the ability to legalize sports betting. Almost immediately afterward, officials in New Jersey announced that sports betting was being made legal here.

Both land-based and online sports betting are now legal here. It’s proved to be a highly profitable industry. A huge number of sports bets have already been placed here. At times, sports betting revenue in Atlantic City surpassed the revenue earned in Las Vegas.

Casino revenue has been surging here, as well. Some of the casinos are earning considerably more than others. The Borgata Hotel & Casino continuously earns the most money in Atlantic City.

The year is coming to an end and overall, it was a great one for gambling venues in the city. Atlantic City’s New Year celebrations sound amazing.

Here Are Some Of Atlantic City’s New Year Celebrations

It’s not surprising to see Atlantic City gearing up for a major New Year’s Eve. This city is known for putting on a good party. After such a successful year, it makes sense for casinos here to put on something special.

Atlantic City’s New Year celebrations are kicking off tomorrow! Several major casinos here are offering their customers some fantastic deals. The discounts being offered change from casino to casino.

Interestingly, many of the celebrations are catering primarily to loyal gamblers. Casinos in the city want to reward those who are considered “regulars” with a night to remember. This year, visitors here can expect fireworks, live music, catered food, and more.

The Hard Rock Hotel & Casino is putting on one of the most exciting events of the holiday. Here, guests can purchase the “Rock n’ Roller Package” for $2020. It’s expensive, yet it comes with an ocean-view suite, a custom Fender guitar, champagne and strawberries, a couples massage, and a private dinner with wine pairing.

It’s an extremely exciting time to visit. Atlantic City’s New Year celebrations are expected to be fantastic. If you’re in the area and want something to do, feel free to stop by for a visit!

Will 2020 Be As Successful for Atlantic City?

There is certainly reason to believe so. For almost all of 2019, the city has experienced a massive surge in gambling revenue. Based on the way things are heading, 2020 will be an even more successful month.

Even during the wintertime, gambling revenue is increasing here. In November, for example, casino revenue came to $223,943,722. That’s considerably more than casinos here made just a few years ago.

Of course, competition is increasing around the country. In nearby New York, lawmakers are working to open new forms of gambling. Sports betting is now legal in New York and more casinos are set to open here over the past few years.

In time, Atlantic City could grow to become the hottest gambling destination in the country. Many casinos are undergoing renovations here. A huge number of major US casino companies are investing money here, too.

Atlantic City’s New Year celebrations are expected to be fantastic. Stay tuned for more New Jersey casino news over the next few months!

Atlantic City Casino Revenue Increases Massively in Q3

Over the past year, Atlantic City has grown to become one of the most profitable gambling hubs in the country. New reports show that Atlantic City casino revenue increased massively in 2019’s third quarter. It’s fantastic news for the state and casino companies operating here.

Atlantic City Sign

Both sports betting and casino gambling continues to generate revenue here. Let’s take a look at exactly how much money the city’s gambling industry managed to generate over the past several months.

New Reports Show Atlantic City Casino Revenue is Increasing

You can’t cover the US casino industry without talking about Atlantic City. Decades ago, this was one of the most profitable gambling markets in the world. Unfortunately, the recession took a major toll on this city and it seemed on the brink of collapse.

Recently, however, things have improved dramatically. Revenue in this city has continued to increase for almost all of 2019. There are a few major reasons why this is.

The legalization of sports betting is certainly helping. New Jersey made sports gambling legal in May of 2018. Every casino in the state now operates a sportsbook. It’s helped to generate millions of dollars for the state government via taxes. New Jersey now has the most profitable sports betting market in the world.

New reports show that Atlantic City casino revenue increased massively during this year’s third quarter. Gross profit for the three months increased to $26.5 million, representing a 12.5% increase from the same time period in 2018. Atlantic City’s nine casinos generated $928.9 million in net revenue.

Things are looking very good here. Based on the way things are going, this will be the best year in the city’s history.

Which Casinos Generated the Most Money in Q3?

July, August, and September are all popular gambling months. It’s not a huge surprise to see so much money flowing into the casinos during this quarter. Some casinos managed to earn considerably more than others, though.

Borgata Casino generated the most money. It’s the most popular casino in the city and blew all of its competitors out of the water. In total, this gambling venue brought in $210,141,863. Hard Rock Atlantic City brought in the second-most money at $106,663,788.

These properties have reason to celebrate. James T. Plousis, Casino Control Commission Chairman in NJ, states that non-gambling amenities in the city proved successful last quarter, too.

“Positive trends also continued with important tourism indicators,” he said. “Non-gaming amenities continue to create a competitive advantage, and visitors like the diverse dining, entertainment and leisure activities that Atlantic City has to offer.”

Just about every casino had a solid few months. Things are obviously slowing down as winter approaches yet many are still generating more money than they did last year.

Sports Betting Revenue Surges in AC, As Well

There’s never been a better time to be a sports fan in Atlantic City. Sportsbooks in this city are continuing to improve. Both online and land-based sports gambling is legal here. For almost all of 2019, revenue from this industry has increased.

In October, sports betting helped to increase gambling revenue in this city to $266.23 million. Statewide, sports bettors here placed $487.9 million in legal sports wagers last month. 85% of these bets were placed online.

Altogether, more than $3.5 billion has been spent on sports bets in this state.

“New Jersey sportsbooks have surpassed Nevada’s in recent months, and it continues to show significant promise for the gaming industry,” said Steve Callender, president of the Casino Association of New Jersey and senior vice president of operations for the East Region of Tropicana Atlantic City’s parent company, Eldorado Resorts Inc.“We are optimistic as we approach the end of this year that we will finish 2019 out in a strong position.”

Atlantic City casino revenue and sports betting revenue continue to increase. This city has the potential to become the country’s true gambling center.

Stay tuned for more Atlantic City gambling news over the next few months!

Massachusetts Casino Revenue Dips in September

Massachusetts is just beginning to embrace the casino industry. There are a few major gambling hubs here, all of which are fiercely competitive with each other. Unfortunately, new reports indicate that Massachusetts casino revenue fell in September. Massachusetts State Symbol

Today, we’ll be looking at the expansion of Massachusetts’ casino market. We will also talk about how much money these casinos managed to bring in last month. Let’s get into it!

More Casinos Begin to Open in Massachusetts

The US gambling industry has never been stronger. Many states around the country are beginning to liberalize their casino gambling laws and are experiencing massive revenue earnings as a result. Several major companies have begun looking at Massachusetts as a lucrative new casino market to break into.

Wynn Resorts is one such company. Back in June, Wynn opened the Encore Boston Harbor casino-resort in Everett, MA. The location was concerning for some; it was previously an unattractive industrial area.

Fortunately, Wynn Resorts’ new casino in Massachusetts has proven to be massively successful. It’s been generating major revenue for the company and state since opening its doors to the public. Encore Boston Harbor was also been outperforming the MGM Springfield gambling venue, which was once the most popular gaming hub in the state.

Many companies are now working to open gambling venues here. Over the next few years, two new venues could open their doors here including the Aquinnah Cliffs Casino and Project First Light Resort & Casino.

Some analysts believe that Massachusetts will become the next major casino destination in the US. Of course, even here gambling revenue can sometimes dip.

Massachusetts Casino Revenue Finally Drops

For a time, it looked like casinos in MA would continue to experience an increase in gambling revenue for the remainder of 2019. Multiple reports have now proven otherwise. Massachusetts casino revenue fell in September and companies are taking notice.

MGM Springfield experienced one of its worst months of the year. Overall gambling revenue fell by 5.1%. The gambling venue brought in $19.8 in September, a pretty significant decrease from the $20.9 million made in August.

Encore Boston Harbor experienced a dip in revenue, as well. According to the Massachusetts Gaming Commission, this casino-resort earned $48.9 million last month. $27 million came from slots and $21.8 million from table games. These revenue earnings also represent a pretty serious decrease from August, where the casino made $52 million.

There’s no real cause for concern, though. Many analysts have pointed out that September is always a less-profitable month than August. Many individuals experience the end of their summer vacations and head back to work.

It’s likely that Massachusetts casino revenue will bounce back this month. This state has never been earning more from its gambling industry and it’s only going to get better.

More Gambling Options Coming to MA

Many lawmakers in Massachusetts are interested in adding even more gambling options to the state. Since May of 2018, when PASPA was struck down, several politicians have called for sports betting to become legal and regulated here. State Representative Brad Hill gave his opinion on the matter to the media a few months ago.

“I want to get us up and running because there is another football season nearly upon us,” he said. “We’re missing a huge opportunity for revenue in this state. Massachusetts likes to gamble, we like our sports, and I should be able, as a citizen, to go bet on a football game. Why is this taking so long? We’re not reinventing the wheel here.”

Many are also calling for online casino gambling to become regulated here. Today, there are a huge number of great online casinos in MA available yet none are monitored by lawmakers in the state. Hope is that in time, this will change.

Massachusetts casino revenue has fallen yet the state still has one of the most lucrative gambling markets in the country. We’ll need to wait and see which new gambling options become available here in the future.

Stay tuned for more Massachusetts gambling news over the next few months!