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Online casinos substitute for land-based ones in Atlantic City
The pandemic has strong influence on the casino business within Atlantic City. The 9 land-based casinos face challenges for the coming year.
As a result of the rise of online wagering and betting on sports, seven casinos saw reduction in in-person cash won by the bettors within the previous month.
Online casinos got in trend in 2020 after land-based casinos were forced to get close for 107 days. This trend is actual in 2021, as the bettors have got used to gamble via mobile phones, tablets or laptops.
The CEO of Casino Association in NJ state and Hard Rock Hotel & Casino Atlantic, Joe Lupo stated:
“Our gambling business has been strongly influenced by the pandemic. As online gaming revenue keeps rising, which provides an extra taxable revenue source, land-based casino win has decreased by 5.5 percent in the last month”.
The former president of Atlantic City Expressway, Tony Marino, discussed the tourism and casino trends, saying that though online betting is widespread, it has some shortcomings.
“Online betting menaces in-person activity as it oppresses the flow of the visitors to the resorts which in its turn, influences negatively on casino, hotel and entertainment institutions.”
An advantage of reduction of land-based gaming revenue is that it promoted lawmaker authorities to accept an amendment to a casino payment instead of tax agreement.
The head of the Senate, Steve Sweeney, mentioned that without this new law, four casinos in the city would be forced to get closed.
As claimed by the NJ Casino Association, this law will ensure consistency in the market and help thousands to maintain their job.