New Jersey’s Economic Development Authority signed an agreement with Stockton University June 22 to create an esports Innovation Center at the university’s Atlantic City campus, according to the Associated Press.
The past few years have seen an exponential jump in the exposure of esports, which pits players against one another in video games such as “Call of Duty” and “Overwatch” in tournaments.
Research firm, Newzoo, expects esports to increase global income by 14.5 percent in 2021 producing more than $1 billion. Greater Atlantic City Chamber President Michael Chait said that could increase by 400 percent by 2027. And 79 percent of the audience is under 35, he said.
“I was shocked when I saw the numbers,” said Brian Sabina, the authority’s chief economic growth officer. “It’s the fastest-growing college sport in America. Nearly 500 million people tune in to watch esports events.”
The center will likely be involved with related software development, video streaming technology, data analysis and technical work, according to PhillyVoice. The EDA will offer staff support while the center will collaborate with private firms and other schools to keep in step with progress. The center will also host coding challenges such as hack-a-thons which sound ominous but isn’t.
Thanks to decades of casino gaming experience, and legislation to permit its expansion into esports, Atlantic City could soon set the bar on esports betting, according to the Press of Atlantic City. The Innovation Center will be needed to entice leagues and businesses to the resort, said Bill Penders, of the EDA.
“If I’m a company within the esports ecosystem trying to decide where I’m going to plant my flag in the United States or grow my business,” Penders said.
Only two states have the infrastructure to support esports expansion into gambling, New Jersey Division of Gaming Enforcement Director David Rebuck said during a recent panel discussion with industry leaders. “And Nevada is behind us because they’re talking about creating an esports commission to regulate esports. Well, we already have it.”
Competitive gaming is already approved for wagering New Jersey, should specific events be approved.
But Atlantic City must compete with Philadelphia, which will get a $50 million esports arena in South Philadelphia. The city will also be global headquarters for The Block, a unique hub for esports to be built at 401 Broad Street.
