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Atlantic City now has one of the strongest gambling markets in the United States. Since 2018, revenue from this state’s gaming industry has increased. Recently, a push to demolish the former Trump casino was presented by city officials.

Trump Plaza Casino

This idea has been presented in the past. For reasons unknown, this venue is still standing. Today, we’re going to look at what city officials are pushing for. We’ll also talk about the effect that the coronavirus is having on New Jersey.

Let’s get into it!

Atlantic City is One Again a US Gambling Hub

For decades, Atlantic City was one of the world’s premier gambling destinations. It drew in people from all around the world. A huge number of world-class gambling venues operated here, many of which put on exciting shows every week.

Things began to change during the late 2010s. In 2008, the recession began to take hold and the US economy was beginning to suffer. Unsurprisingly, this led to a significant decrease in tourism to Atlantic City.

Many of the casinos here were forced to close their doors. Some never opened again. It wasn’t until about a decade later that things began to really turn around.

In May of 2018, the Supreme Court struck down PASPA, allowing every state to set its own laws on sports gambling. New Jersey quickly legalized this industry and before long, every casino in Atlantic City began offering sports betting options. Many believe this helped to bring new life to the city.

Revenue began pouring in. Tourism rates started to increase and now, Atlantic City is one of the most profitable gambling destinations in the country. Officials are now beginning to call for old casinos no longer operating to be torn down.

The Push to Demolish Former Trump Casino Continues

As most already know, Donald Trump operated a hospitality and gaming company prior to becoming president. This company, called Trump Entertainment Resorts, opened the Trump Plaza Hotel in May of 1984. It was located on the Boardwalk in Atlantic City and quickly became one of the most popular venues in the city.

Throughout the 90s, this venue began losing revenue. The hotel-casino eventually went into debt and by 2004, it was forced to permanently close down. Billionaire Carl Icahn eventually bought the land that the closed casino sits on yet nothing has taken place here.

It appears this is going to change soon. This week, city officials officially asked a judge to order that the former Trump casino be closed down. They argue this venue is now a safety hazard, as several pieces of the venue have recently broken off and fallen to the ground.

Interestingly, Carl Icahn is claiming he’s already decided to demolish the building. For that reason, the steps that city officials are taking are unnecessary. Hunter Gary, president of real estate for Icahn Enterprises, spoke about this to the media this week.

“We are puzzled by the city’s action,” he said. “In fact, we already decided to demolish the building, and have commenced the process, including finalizing contracts. If the mayor had simply called us instead of holding a press conference, we could have updated him as well.”

It seems that this famous hotel-casino will soon be torn down. We’ll need to wait and see if the judge decides to act before Icahn takes things into his own hands.

Is the Coronavirus Affecting Atlantic City?

As of March 12th, Covid-19 has now infected more than 1,500 individuals around the US and has killed thousands of people worldwide. Obviously, fear is growing that this will significantly affect the US economy. The stock market has already taken a major hit and many are curious how the country’s gambling industry will be impacted.

Things have been going very well in Atlantic City for the past few years. In fact, revenue has increased almost every single month! According to new figures, revenue here went up significantly in 2020 compared to 2019.

Many analysts don’t feel this will last in March. The US population is only now beginning to understand how serious of an issue this really is. As more people become infected, less will want to visit crowded areas such as casinos.

We won’t know exactly how this city is affected until early next month. By then, new revenue figures will become available. If things continue to get worse, perhaps it will be months before the former Trump casino is actually torn down.

This is an important time for gambling operators. Stay tuned for updates on the US casino industry over the next few months!

Posted on January 23, 2020

New Jersey

New Jersey Lotto Winners Now Have Choice to Remain Anonymous

By Joy Noel

Lottery winners in the state of New Jersey will now have the choice to remain anonymous. This is following a new law that Governor Phil Murphy signed on Tuesday. This bill passed the state Senate and Assembly without a single dissenting vote earlier this month.

Under the new law, the state lottery commission must set rules and regulations that permit lottery players to keep their identities unknown to the public.

Murphy signed S-2267, which makes an exemption to the Open Public Records Act, which allows people who win hefty amounts of money while playing the New Jersey lottery to have the option to have their identity withheld.

The original resolution, which was signed into law in November of 1969, required winners of large amounts of money to reveal their identities to the public. This has come in the form of press conferences, OPRA requests, and press releases.

“To amend, repeal, or supplement any such rules and regulations from time to time as it deems necessary or desirable, and to establish by regulation that holders of winning tickets or shares may choose to remain anonymous indefinitely and that the identity of a holder choosing such option shall not be included under materials available to public inspection,” the amendment says.

New Jersey isn’t the first state to allow winners to opt for anonymity. They join a growing list of states who also permit privacy, which are Delaware, Georgia, Kansas, Maryland, North Dakota, Ohio, South Carolina and Texas. Arizona and Virginia also passed their own privacy bills last year.

Some states allow players to claim prizes anonymously through trusts. While many states have laws that dictate a winner’s name, hometown, and prize amount become public information.

Avoiding the “Lottery Curse”

The New Jersey law’s sponsors say this bill targets a phenomenon that is often referred to as the “lottery curse.”

Democratic Senate President Steve Sweeney said in a statement that the curse often brings about harassment and threats. It usually occurs after winners’ identities are released to the public.

“The winners should have the option of remaining anonymous if they want to stay out of the limelight and away from unwanted attention,” Sweeney said.

Jason Kurland, a New York-based “lottery lawyer,” said that the best advice for new lottery winners is to keep your mouth shut and call a lawyer:

“Don’t advertise it,” Kurland said. “Don’t tell too many people you won. If your name’s out there, everyone comes out. Not only family you haven’t spoken to in a long time, but charities. Mostly good. But some are bogus.”

In 2018, the winner of what was then the eighth biggest jackpot in US history — a $560 million Powerball prize — successfully sued the New Hampshire Lottery for the right to remain anonymous.

The judge in the case said he was in no doubt that the New Hampshire woman, known only as Jane Doe, would be subject to “an alarming amount of harassment, solicitation, and other unwanted communications” should her name be revealed. Her right to privacy “outweighed the public’s interest in the disclosure of her name,” he ruled.

Opponents argue that requiring winners’ names to be available to the public promotes transparency within the industry. And this transparency is supposed to promote the perception that the lottery has integrity. The publicity is also good for business because it puts real faces and names to real winners. Apparent, the attention brought in by a jackpot winner usually results in a large spike in lottery sales for the upcoming draw.

Not Completely Anonymous

Even with the new law, winners of the New Jersey state lottery won’t be flying completely under the radar. Their identity will just be unavailable to the press and the public eye. State agencies will still be able to share their details internally, so they can remove things like outstanding child support payments, public assistance overpayments, and defaulted student loan payments before handing over the earnings.

Posted on January 23, 2020

Atlantic City

Expanding Casino Gaming Beyond Atlantic City Isn’t the Best Bet

By Joy Noel

It’s a new year, and one where New Jersey is reconsidering expanding its gambling footprint past Atlantic City’s shores. While the statewide referendum to expand casino gaming outside Atlantic City ended in strong defeat in 2016, the idea of it still lingers.

When the question of casino expansion was on the 2016 ballot, it was met mainly with disinterest. Around 77% of voters said “no” the referendum question that stated:

“Do you approve amending the Constitution to permit casino gambling in two additional counties in this State? At present, casino gambling is allowed only in Atlantic City in Atlantic County. Only one casino in each of the two counties would be permitted. Each casino is to be located in a town that is at least 72 miles from Atlantic City. The amendment would allow certain persons to apply first for a casino license. “

At the start of the new two-year legislative session last week, both the Assembly and Senate reintroduced resolutions that support allowing casino gaming in other areas of New Jersey.

The reintroduced resolutions vary and address permitting casino gambling in certain North Jersey counties, as well as supporting the legalization of two gambling parlors outside of Atlantic City.

That makes five resolutions in total filed in the Assembly and one in the Senate that would expand gaming, in some form or another, outside Atlantic City.

What’s Making New Jersey Reconsider?

It’s possible that lawmakers are excited about the prospect of more New Yorkers swarming to a full-scale North New Jersey casino that’s closer to the New York border. The thinking behind it is this: If New Yorkers are willing to cross the New Jersey border to place online sports bets, how much more could they attract it if there were a casino available for players?

With the success of sports betting and online gambling being at an all-time high across the country, it created speculation for a bigger push for a North New Jersey casino last year, though it never materialized.

Why It Wouldn’t Be the Best Bet for Atlantic City

Roger Gros, the publisher of Global Gaming Business Magazine, believes now’s not the time to entertain ideas about casino expansion, especially in North Jersey.

“That would be a terrible idea. It would really kind of destroy the progress Atlantic City has made over the past few years.

Any kind of increased land-based competition in New Jersey would completely reverse that positivity and start Atlantic City on a downward spiral once again.”

While Atlantic City casinos are now doing better than they have been for years, some of them continue to struggle. Bad months at the brick-and-mortar casinos can be made up by revenue from online games though, Gros said.

He pointed out that there continues to be discussions about having casinos in New York City and “that will happen eventually.” If a North Jersey casino sees any increase in profit, that may just draw action away from Atlantic City, it would likely only be at the beginning and wouldn’t be as impactful over the long term.

“We just had a referendum two years ago on this very subject: 4 out of 5 voters rejected it and now the politicians want to bring it back? That is the height of insolence,” he said. “What we should really concentrate on is really expanding the internet online and mobile sports betting.”

Posted on November 22, 2019

Atlantic City, news

Atlantic City Casino Revenue Increases Massively in Q3

By James Murray

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!

Posted on November 13, 2019

news, Sports Betting

Atlantic City Wants a Piece of NJ’s Sports Betting Revenue

By James Murray

New Jersey has one of the most lucrative sports betting markets in the country. Recently, the Mayor of Atlantic City called for a cut of NJ’s sports betting revenue. It’s here that most sports betting operations take place, after all.

Mayor Marty Small Sr

Sports betting is extremely popular in New Jersey. It’s helping to bring the state millions of dollars every single month. Let’s look at what exactly Atlantic City is now asking for.

Sports Betting in New Jersey Continues to Grow

New Jersey was instrumental in getting the US Supreme Court to strike down PASPA. Lawmakers here accomplished this goal in May of 2018, and shortly after officially approved a bill to legalize both online and land-based sports betting. Before long, every casino in Atlantic City began operating a land-based sportsbook.

These casinos also teamed up with major online sports betting companies to operate their internet sports betting platforms. Now, all Atlantic City casinos have an online sportsbook, too. Over the past year and a half, NJ’s sports betting revenue has increased dramatically.

In fact, for almost all of 2019, sports betting revenue has increased in this state. Certain gambling venues are known to generate more sports gambling winnings. Resorts Atlantic City is well-known for earning the most betting revenue in the city.

Not long ago, New Jersey earned more sports betting revenue than Nevada. It was the first time in history that this happened.

The state is certainly happy with these revenue earnings. Officials within Atlantic City now want their piece of the pie.

Mayor Marty Small Sr. Wants a Cut of NJ’s Sports Betting Revenue

As of now, New Jersey has earned more than $33 million through taxes on the state’s sports betting industry. That’s an impressive figure considering how new this industry really is. Now, the Mayor of Atlantic City is requesting a piece of this revenue.

Mayor Marty Small Sr. has officially asked for a direct cut of NJ’s sports betting revenue. He claims that Atlantic City played a major part in the success of this industry. He wants to see Atlantic City given more power to control the money earned from regulated sports gambling.

“In 14 months, New Jersey has overtaken Las Vegas as the No. 1 sports betting destination, and a lot of it has to with the success of Atlantic City and online,” Marty Small Sr. said. “But we don’t get one penny. … That’s unacceptable.”

The mayor wants to see this sports betting revenue used for property tax relief.

“My first, and foremost goal, as it was as council president and will continue to be as mayor, is more rateables for the city and more revenue streams to offset our taxes,” he said.

This is certainly a reasonable request. Atlantic City is no stranger to economic hard times. Better control over NJ’s sports betting revenue would help this city in a major way.

September Proves Massively Successful for NJ Sports Betting Operators

It’s no secret that sports betting revenue has been steadily increasing in this city. This is particularly true now that the 2019/2020 NFL season is in full swing. September proved to be the most successful month for the state’s sports betting operators in history.

According to multiple reports, gamblers in the state wagered more than $445 million on sports in September. It’s the most money ever wagered in this state.

Online sports wagers brought in $41.1 million for casinos in September.

James Plousis, chairman of the New Jersey Casino Control Commission, recently commented on this revenue increase to the media.

“While operators continue to face strong competition for gaming and leisure customers, the increase in total gaming revenue shows the industry has grown for the betterment of both Atlantic City and New Jersey as a whole,” he said.

Mayor Marty Small Sr. is pleading his case. We’ll need to wait and see whether or not lawmakers decide to grant Atlantic City a larger share of NJ’s sports betting revenue.

Stay tuned for more updates over the next few months!

Posted on October 7, 2019

news, Sports Betting

Parx Casino Launches an Online Sportsbook in NJ

By Nickolas Branson

New Jersey now has the biggest and most lucrative sports gambling market in the United States. Casinos here, almost all of which are located in Atlantic City, operate both land-based and online sportsbooks. This week, Parx Casino officially launched an internet sports betting platform in this state.

Parx Casino

Parx Casino is one of the most popular gambling venues in Pennsylvania. It’s now entering the NJ sports gambling market. Let’s look at the details of this new online sportsbook and talk about how New Jersey’s sports betting industry is doing right now.

New Jersey’s Sports Betting Revenue Continues to Increase

As we’ve already mentioned, New Jersey now has the most lucrative sports betting market in the country. Amazingly, sports gambling has only been legal and regulated here for a little over a year. New Jersey was the first state to approve sports betting legislation after PASPA was struck down in May of 2018.

For all of 2019, revenue from sports gambling has increased in this state. In August, revenue here boosted by an incredible 13% compared to the same month last year. Gamblers in this state wagered over $293 million that month on sports alone.

The Borgata Hotel & Casino brought in $80 million through its land-based and online sportsbooks. Casino officials claim it was the biggest month since opening in 2004. Hard Rock Atlantic City also had a solid August, bringing in $41 million, up 31% from the same month in 2018.

Even Ocean Casino, which is the lowest-earning casino in Atlantic City, posted solid revenue figures last month. This casino-resort brought in more than $25 million.

Many companies are taking notice of these revenue gains. This week, one of the most popular gambling venues in Pennsylvania announced that it’s breaking into the NJ market.

Parx Casino Announces Launch of NJ Online Sportsbook

New Jersey isn’t the only state to recently legalize sports gambling. 19 states have approved sports betting legislation and 13 have sports gambling platforms up and running. Pennsylvania began offering sports betting options in November of 2018. This form of gambling has quickly grown popular here.

This week, Parx Casino has announced that it’s breaking into the New Jersey sports betting market. This casino, which is owned by Greenwood Gaming & Entertainment, officially launched its internet sportsbook in this state. This new betting platform is now live and available to New Jersey residents.

Parx Casino teamed up with GAN to begin operating its newest online sportsbook. Dan Smurtif, CEO of GAN, commented on the launch to the media this week.

“Launching the largest casino in Pennsylvania online has now logically extended across the border into New Jersey, extending their reach into New Jersey’s fast-growing and established Internet gambling market. This represents an incremental revenue opportunity for GAN and is a logical extension of our technology infrastructure to serve Parx Casino patrons who routinely cross the invisible border between these two populous states.”

It’s exciting news for sports betting fans in the state of New Jersey. There is another major player entering the market.

About Parx Casino and Racing

Pennsylvania is home to a huge number of gambling venues. Perhaps none is as popular as Parx Casino and Racing, located in Bensalem. This venue started off as a horse racing track and has since begun operating a casino featuring 3,330 slot machines, 180 table games, and a poker room.

Parx Casino began operating a land-based sportsbook back in January. It launched its online sportsbook in June. Since that time, it’s become the most popular internet gambling platform in the state. In August, it managed to generate more than $621,000 in sports wagers.

Officials at this casino have discussed plans to break into the New Jersey market for months. The company teamed up with GAN to officially begin offering sports betting options in this state earlier this year.

Residents of New Jersey now have 16 different online sports betting platforms to choose from. We’ll need to wait and see how popular the online sportsbooks from Parx becomes over the next few months.

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

Posted on April 15, 2019

news

New Jersey Sportsbooks Set New Record in March

By Ryan Knuppel

Online and retail sportsbooks have set a new record in March as they finally managed to go over a $2 billion mark that was made in bets ever since the legalization of this type of gambling. This near-record handle for March happened mainly due to the fact that there was the NCAA Men’s Basketball Tournament, which attracted a lot of bets from the residents of New Jersey, according to analysts who work for PlayNJ.com.

Dustin Gouker, who is a lead sports betting analyst for PlayNJ.com state that the first week of March Madness had generated more betting even than the Super Bowl. Furthermore, he added that the First Fout games were enough to match regular NFL weekend bets. Gouker claimed that the number of bets placed on college basketball clearly displayed the massive success of this sport and that punters loved placing bets on it. In other words, college basketball affects the Northeast’s sports betting market in a great way.

All the retail and online sportsbooks that are located in New Jersey managed to accept a total of $372.5 million in bets in March, which is quite similar to the amount recorded in January – $385.3 million, according to the official reports. In other words, ever since the legalization of sports betting in June 2018, the sportsbook in NJ managed to collect a total of $2.3 billion in bets. This is a huge deal for them, as sports betting is clearly getting increasingly popular in the US.

The revenue for March was $31.7 million, which is almost 150% more compared to the revenue achieved in February when a total of $12.7 million was earned in the sports betting facilities. If online casinos are taken into account, the state of New Jersey can say that more than $70 million in revenue was achieved in March.

According to Gouker, the sole fact that they managed to get more than $2 billion in bets in just nine months is a clear display of how legal sports betting should have existed in New Jersey before as people were clearly interested in this type of gambling. Gouker added that the next milestone should definitely be set at $3 billion, and he is more than positive that the sports betting facilities in New Jersey would reach it even before they get to celebrate their first birthday which would be on June.

It seems that online sportsbooks are the most popular way to place bets in New Jersey since 80.8% of all bets in March were conducted via online platforms. In other words, the total amount of bets accepted in March is $298.3 million. This is a clear display that the future is on the web and that people do not feel like visiting retail sportsbooks as often as they visit land-based casinos.

The most popular online sportsbook was FanDuel Sportsbook/Pointsbet, as they managed to beat the second-place DraftKings Sportsbook. FanDuel made a total of $13.3 million in gross revenue which is almost 100% more compared to February. Furthermore, DraftKings had a total of $7.3 million in gross revenue which is also a significant improvement compared to $3.7 million in February.

When it comes to land-based sportsbooks, FanDuel Sportsbook at The Meadowlands topped the list with a total of $4.3 million in gross revenue in March. An improvement is visible here as well since they had a total of $1.5 million in February. The next one in line was Monmouth Park which earned a total of $986,251.

Posted on July 12, 2018

news

Sports Betting in New Jersey: What’s On Offer?

By Kyle Miller

Sports betting has been legalized for about a month now in New Jersey, with several options for wagering on offer in the state.

In mid-May, the opportunity to offer sports betting became a reality in the United States. The US Supreme Court decided to strike down PASPA, which now opens up each state to legalizing sports betting. New Jersey saw sports betting legalized on June 11^th as Governor Phil Murphy signed a bill into law. While sports betting is in full swing at certain venues, online gaming has yet to begin. A 30-day time frame had to be completed before online gaming could begin.

This week, that waiting period ends so sportsbooks will have the option to begin offering online gaming as of now. Race tracks and casinos will be able to have three skins for each physical sportsbook, whether the book is in operation or being constructed.

So, what’s on offer via sports betting in New Jersey? Let’s take a look at what you can find when visiting New Jersey to take part in sports wagering.

The First to Begin: Monmouth Park

The first venue to begin offering sports betting in New Jersey is Monmouth Park. For years now, the race track has tried to see sports betting become a reality in the state. The venue needed something to help their facility stay afloat, even trying to see casino gaming coming to the northern region of the state to no avail.

In 2013, Monmouth Park was able to create a partnership with William Hill and now that partnership has helped the venue to begin offering legalized sports wagering. The UK based bookmaker has helped the venue to provide a boosted sports betting option, with players already taking part in wagering.

Since Monmouth is working with William Hill, it is expected that the provider will be launching an online gaming app or site now that the option is available. It will be interesting to see just how long it takes Monmouth Park to get the ball rolling with online sports betting.

Borgata Sportsbook

On June 14^th, the Borgata Casino opened their sportsbook. The casino decided to use their racebook as a temporary space for sports betting in New Jersey. Last year, it was announced that the owner of the casino, MGM, has plans to spend as much as $7 million to create a new sportsbook. However, there has yet to be any announcement as to when the project will get started.

A Second William Hill Partner

William Hill has been quite busy gaining partners for sports betting in New Jersey. The brand has also partnered with Ocean Resort Casino for sportsbook gaming. When the new casino opened on June 28^th, they were ready with a William Hill branded sportsbook along with their casino gaming options.

The physical sportsbook is open within this venue, though it is still under construction. Players can place wagers while enjoying a tour of the brand new facility.

What’s To Come

Now that online sports betting can begin, we should see an influx of operators beginning to offer online services. The operators who already focus their efforts on online casino and poker gaming have been able to earn solid revenues. With sports betting added in, the online gaming industry as a whole should see a nice increase in their already high profit margins.

It will be interesting to see who gets started first and just how much online sports betting can bring to the online gambling landscape in the state of New Jersey.

Tag: new jersey

Officials Push to Demolish Former Trump Casino