In 2006, casinos brought in $5.2 billion. Those were giddy days when developers tripped over each other to propose casinos in town. That was before the recession, which sent revenues downhill and closed four of the city’s gaming halls.
In 2021, New Jersey casinos brought in $4.7 billion, moving the ball in the right direction. But it’s not great compared with 2006, as figures nowadays feature internet gambling through casinos and sports betting tied to the casinos and the three racetracks, according to the Associated Press.
Figures released by the New Jersey Division of Gaming Enforcement
indicated the nine casinos won $2.55 billion last year through brick-and-mortar casinos. The results eclipsed the 2020 win by a $1 billion, but the 2020 results were impacted by the Covid-19 pandemic which involved capacity restrictions after a shutdown for three and a half months.
But 2021 saw fewer wins than the $2.68 billion won in 2019.
“Atlantic City’s casino industry, like the region’s gaming hospitality and tourism businesses overall, has proven resilient, but still vulnerable to fluctuations in Covid-19 infection rates and caseloads,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling industry.
The casinos and tracks kept 7.1 percent of the total amount bet as sports betting winnings, in line with national industry averages.
“We feel very fortunate to move into 2022 with a great team, dynamic brand and support from ownership,” said Joe Lupo, president of Hard Rock.
