Out of all the gambling scenes in America, Atlantic City is one of the most legendary. Atlantic City casinos offer up some of the best gaming in the country, and the state of New Jersey plays host to some of the biggest names in gambling. However, it’s worth noting that 2020 has had a fierce impact on Atlantic City casinos revenue.
It’s no surprise to see that the turbulent nature of 2020 has negatively impacted casinos around the country, but to see that it has sharply impacted one of the biggest gambling scenes has been somewhat of a surprise to many people in the industry.
Today, we’re going to be looking at Atlantic City casinos revenue in more depth. We’ll be taking the facts and figures from July this year, and comparing them to the facts and figures from July of last year. We will dive into the performance of the city as a whole, and speculate where Atlantic City’s casinos might end up next year.
How Has The Year Been For The Gambling Industry As A Whole?
As a whole, it has been an incredibly turbulent year for the gambling world. Of course, every industry around the world has felt the strain of the events that have been taking place in 2020. Whether you work in beauty or marketing, education, or fitness, you’re bound to have felt the strain. This applies to gambling and casino management too, of course.
One of the major things that left a dent in the world of gambling this year was the mandatory lockdowns enforced around the world. This led to a dramatic loss of footfall for many casinos and betting shops around the world, of course- even in gambling hubs like Atlantic City.
This lack of footfall had an effect on surrounding businesses and independent stores, too. Restaurants, cafes, and liquor stores that would normally have relied upon casino customers were left struggling as customers were kept at home, and as other lockdowns and mandatory business, closures took place, too.
Another thing that negatively affected the gambling industry this year was the lack of major sporting events and the postponements of legendary events like the Olympics. Sports betting has truly been on the rise in recent years, but the lack of major sports betting opportunities threw a lot of chaos into the mix.
On a more positive note, the online gambling world has performed exceptionally well in 2020, especially in gambling states like New Jersey. The increased amount of time at home and extra time off work led many more people towards spending money with online casinos and mobile gambling companies.
All in all, it has been somewhat of a rollercoaster for the gambling world as a whole. 2019 set up the gambling industry to perform incredibly well, with plenty of unique opportunities and developments- both in technology and legislation. However, the impact of 2020 has been heard throughout the global sector.
How Did Atlantic City Casinos Perform This July?
To get a better understanding of the impact that 2020 has had on the gambling industry, it’s worth looking at a gambling hub like Atlantic City. Here at NJ Gambling Fun, we’re incredibly passionate about our local gambling scene, and it shows off the effects of this year perfectly.
A great example of this is the recent revenue reports from Atlantic City in July. As noted in this NewsBreak article, Atlantic City’s casinos reported a revenue of close to $249 million in July of this year. While this may seem like an exceptional report for some states, it’s important to be mindful that this is not a good report for New Jersey.
Compared to last July, this year’s revenue report for Atlantic City was incredibly low. In actual fact, the statistics show an almost 23% decrease in revenue for Atlantic City casinos as a whole. This is a very prominent decrease, and it has been a hot topic in the local gambling scene as of late.
While these statistics can seem disappointing or frightening to those of us in the industry, it is important to remember the previous points about how this year has been for the industry. 2020 has been a difficult year for the gambling world- and relatively speaking, New Jersey has still managed to perform well.
It’s always intriguing to consider where a gambling scene might end up in the future, and it’s great to hope for a better year for Atlantic City in 2021. 2021 is shaping up to be a fascinating year for many in the gambling world, with plenty of interesting projects on the horizon.
We’re sure that Atlantic City will recover from this year smoothly. The city plays host to some of the biggest names in casino gambling and sports betting, and the recent boom in mobile gambling has been capitalized upon nicely as well, too. If there was ever a state to recover from this year, it would be New Jersey.
To sum up, it’s been a bumpy year for many companies and organizations in the world of gambling- even in gambling hubs like Atlantic City. While it may be surprising to see facts and figures like this arising from states like New Jersey, it is worth noting that other sectors- like sports betting – have still continued to perform well.
It will be wonderful to see where the world of gambling goes next year, and how these new developments will affect the Atlantic City casino scene, too. This year has forced a lot of companies to show their true colors and to play their hands well, and we can’t wait to see what happens next in this thrilling industry.