Atlantic City Gambling Market Down Through AprilSports Betting Couldn't Come At A Better Time |
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Atlantic City’s brick-and-mortar and online casinos won a combined $809.3 million through the first four months of 2018, according to figures released Monday by New Jersey gaming regulators.
The winnings were down 4.1 percent compared to the $843.5 million won through the same period in 2017. Revenue from the brick-and-mortar setting was $716.7 million through April of this year, down 6.1 percent. Online gaming revenue of $92.5 million was up 15.5 percent year-over-year.
The online casinos are increasingly becoming more vital to the success of Atlantic City.
On Monday, the U.S. Supreme Court struck down a 1992 federal law that restricted sports betting to just Nevada. New Jersey casinos are expected to kick off sports betting in the coming weeks and months. The bets will eventually be available online as well.
Last month marks the final month that New Jersey’s internet poker industry will be confined to its borders. On May 1, New Jersey began sharing its online poker players with Nevada and Delaware in an effort to grow the games. Other states could eventually join the equation.
New Jersey internet poker revenue of $1.7 million in April was down 10.5 percent compared to April 2017. Through April, internet poker play generated $7.4 million in revenue, down 14.6 percent compared to the same period the previous year. Only one New Jersey online poker operator—Caesars/WSOP/888—is approved for online poker in Nevada and Delaware as well.
Atlantic City is also set to welcome the reopenings of two of its casinos. Revamped versions of Revel and the Trump Taj Mahal are slated to begin taking bets again this summer.
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