Atlantic City’s casino industry has been through a lot lately. The same can be said for the thousands of individuals that work inside these venues. Fortunately, news is now breaking that Hard Rock Atlantic City plans to give out an incredible $1 million worth of bonuses to its employees.
It’s great news for the workers here. Atlantic City still has a long road to get back to normal, though. Today, we’ll discuss Hard Rock’s plans and look at how some of the other casinos in New Jersey are faring right now.
Let’s get into it!
New Jersey’s Casino Revenue is Down, Sports Betting Revenue is Up
Back in the 1980s, Atlantic City developed into one of the country’s premier gambling destinations. Major developers moved into the city and opened world-class casinos. Tourism numbers began to boom and revenue was increasing every month.
Things began to decline throughout the 90s and by the mid-2000s, this city was struggling immensely. Many of the casinos here were forced to permanently close their doors. There was a time when it seemed like Atlantic City would never recover.
Incredibly, things began to turn around in mid-2018 when the Supreme Court removed PASPA, giving New Jersey the ability to finally legalize sports betting. Many sportsbooks almost instantly began operating. This led to a surge of new tourism and valuable revenue for the casinos here.
Unfortunately, 2020 halted much of the progress the casinos have been making lately. For several months of the year, the casinos here were forced to completely shut down. When they finally did reopen, they were forced to operate at a limited capacity and with intense regulations set in place.
Casino revenue remains low here. Sports betting, however, has been on a steady rise in New Jersey. Online sports gambling has been surging particularly high lately. The state’s sports betting operations are expected to bring in a huge amount of revenue as Super Bowl LV approaches.
Hard Rock Atlantic City continues to struggle. Despite that fact, the casino plans to give its guests bonuses over the next few weeks.
Hard Rock Atlantic City Employees Are Set to Receive Bonuses
Casino workers have been under some serious stress lately. A huge number of them were laid off after the casino shutdowns in March. Many casinos are now reopened, yet continue to see low visitation rates.
The Hard Rock Hotel-Casino in Atlantic City opened its doors again over the summer. Since that time, Hard Rock has been working hard to bring in more players. It hasn’t been easy and no one seems to know when things will begin to return to normal.
This week, news broke that Hard Rock Atlantic City is set to give out $1 million worth of bonuses to its employees. More than 2,000 of the casino’s employees are set to receive one of these bonuses. It comes as a thank-you to the workers who have worked during these difficult times.
Hard Rock Chairman Jim Allen spoke about the company’s new plans to the media this week.
“We believe that this continued support of our employees, and our belief that this will continue to enhance our respect and appreciation that we’ve provided to them and that they have given back to us, will continue to grow customer service in the property, and more importantly, continue to separate us from the rest of the industry,” he said. “We know Atlantic City still has a great history behind it, and still has a better history in front of it.”
It has been confirmed that these bonuses will be reflected in the paychecks distributed this week. The specific amounts will vary depending on every worker’s position. It’s a fantastic move for Hard Rock and one that its employees can appreciate.
Officials within Hard Rock are optimistic that things will improve as the year goes on. Just about all of the other casino companies are hopeful of this, as well.
NJ Casinos Hope for a Tourism Boom by Summertime
2020 seemed to prove how vulnerable the US casino industry really is. If tourism stops, casinos are unable to bring in players. That is exactly what happened in places like Macau, Las Vegas, and Atlantic City.
Casinos are still doing everything they can to bring in more players. Boosting tourism isn’t as easy as it might sound at a time like this, though. Many major casinos are now hoping that with effective vaccine distribution, travel will begin to surge around the country.
No one seems to know what to expect. Some feel that vaccine distribution will end up allowing more to take trips. Some analysts believe most will want to travel within the US and to fun entertainment hubs such as Atlantic City.
There are some who are less optimistic, though. New variants of the virus spreading around the country cast doubt on vaccine efficacy. That could lead to additional surges around the country and more travel restrictions being set in place.
It’s a difficult time for the entire casino industry. Fortunately, there are some good things taking place with casinos in different parts of the country. Hard Rock Atlantic City is even working hard to give its employees bonuses right now.
When do you expect Atlantic City to return to normal? Let us know in the comments section below!