Atlantic City sportsbooks continue to excel

Atlantic City sportsbooks continue to excel

New Jersey and its online sports betting market aren’t slowing down

Although Atlantic City casinos are still in a constant struggle to climb out of the hole created by the COVID-19 restrictions, New Jersey has been enjoying one of its strongest years ever with respect to gaming management and revenue prospects. Americas’ Playground sportsbooks continue to be an important part of this improvement, and it looks like 2022 will be an even better year.

As many will recall, Atlantic City casinos were forced to shut down operations for over 100 days. As a result, many casinos decided to shift their focus from legal sports betting to online gambling, a trend that was seen on the rise and even continued after the COVID-19 protocols were relaxed.

The president of both the New Jersey Casino Association and the Hard Rock Hotel and Casino in Atlantic City, Joe Lupo, said casinos are still seeing a decline in in-person revenue to match the increase in online gambling revenue. “The pandemic continues to have an adverse effect on our business, with land-based casino win down 5.5% for the year through November,” he said. Seven of Atlantic City’s nine casinos saw a decrease in hold percentage compared to 2019.

While it’s true that the decrease in hold percentage is not a positive thing for the state’s casinos, Lupo says there may still be hope because “while online gaming revenue continues to see significant growth with third-party operators acquiring much of that market share, it has provided another taxable revenue source to the city and state.”

Still, the recovery has been concise and very evident in New Jersey, as in September, after some time has passed since the original closures, the Garden State became the first state to surpass $1 billion in sports betting, and much of that is due in large part to the various efforts reflected through the sportsbooks.

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