Atlantic City prudently hopeful of future following modest development

Atlantic City prudently hopeful of future following modest development

According to the Casino Association of New Jersey, the outlook for the Atlantic City casino business remains “cautiously hopeful” as the city continues to recover from the COVID-19 outbreak. 

This follows the trade organization’s conclusion that the region experienced a year of “moderate growth” in the preceding 12 months, as it grappled with the myriad hurdles posed by the ongoing pandemic.

Atlantic City remains hopeful of optimistic 2022 turnout

Atlantic City continued to feel the strain of the COVID-19 pandemic in the final quarter of 2021, as the country saw a new rise, which has extended into 2022, the firm adds. In aggregate, the CANJ notes that the region’s land-based casino business witnessed a 5% loss in income from 2019 to 2021, which “underscores the reality that land-based casinos have not recovered to pre-COVID levels.”

Despite the difficulties, the Atlantic City casino business generated over $422 million in total state tax income from gaming operations in 2021, confirming “the critical role the industry plays throughout the state, creating an expanding labor market that supports and sustains the local economy.”

Elsewhere, internet gaming has been lauded for its ability to generate significant tax revenue for the city of Atlantic City, Atlantic County, and the state of New Jersey. This follows prior reports that New Jersey online casinos and poker rooms closed the year with a record $133.2 million in revenue in December, surpassing the previous high of $127 million set in October 2021.

In addition, the CANJ commends a collaboration between area health care provider AtlantiCare and Unite Here Local 54 in an effort to securely reintroduce staff and guests when limitations were removed and immunizations were more widely available to the public.

Quotes from the Press Release

“Throughout the year 2021, the Atlantic City casino business and its numerous outstanding employees worked tirelessly to rebuild and recover from the COVID-19 epidemic,” said Joe Lupo, president of the Casino Association of New Jersey.

“While the COVID-19 epidemic continues to have an impact on our industry in the new year, our forecast for the coming year remains cautiously hopeful, as we observed growth in 2020 and 2021 and predict the same in 2022.” We are appreciative of our relationship with AtlantiCare and Unite Here Local 54, as well as the commitment and perseverance of our team members,” Lupo added.

“We look forward to working together in the coming year to provide a stronger voice fueled by transparency as we endeavor to revitalize our historic seaside resort.”

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.