Trends have something to say, particularly if the trend can paint a picture of the state of affairs years from now. Compare New Jersey’s iGaming market with its brick-and-mortar market—in April, gaming at retail casinos chalked up $216.8 million. Online gaming brought in $187.9 million.
The gap is a mere $29 million, but the online component rose 18.2 percent compared to the same month in 2023, as per Card Player.
If the trend continues, and there is no reason to think it won’t, casinos could evolve into an afterthought, a chance to harken back to a more glorious past. Relevance has little meaning and with it comes the negative vibes. Why drive down to Atlantic City when you can spend the same gambling dollars in your living room.
What about a show? You can see the same concert without going to Atlantic City. High end restaurants that are part of the landscape may cost too much money. Same goes for the hotel stay. And don’t forget the competition from neighboring states. It’s not hard to see where this is heading. Layoffs. Lots of them. Casino closures? The one thing that keeps them turning is the requirement of a link to the brick-and-mortar casino to maintain an online license.
Casino union representatives don’t see the trends as positive.
“As lawmakers continue to proceed with the annual state budget process, representatives in the New Jersey Legislature must understand the perilous economic situation at hand for my members, and indeed all workers in Atlantic City,” Unite Here Local 54 President Donna DeCaprio said in April.
“Not only is the overall in-person revenue troubling — but the size of the declines at some of the individual properties portends some serious instability for thousands of workers. The legislators need to take this into consideration as they consider policies that could compound the downward trends.”
