Old school radio & newspaper pundits in Atlantic City love to sing the praises of the revenue gains at our AC casinos. These reporters drink the casino kool-aid as they focus on the wrong metrics of success.
Yes, there are higher profits at the 7 remaining AC casinos. Too bad that news does little for the rest of Atlantic City’s economy. We can thank internet gaming and the PILOT bill for that little talked about fact.
Online gaming creates some much needed, positive press for AC and the casinos in the short term. But it’s more likely to hide a festering problem for the city as it transforms from a gaming town, to a non-gaming based destination.
As media fools point to increases in revenue, they ignore the growing elephant in the room. Atlantic City is dealing with a steady reduction in the number of people coming to the city by car, bus and air.
Since it became legal in 2013, internet gaming has generated over $500 million in revenue for the Atlantic City Casinos. This helped to prop up a still struggling casino gaming market.
The Facts:
- Online gaming has boosted revenues at the seven operating casinos
- Visit-trips to Atlantic City have continued to decrease for the past 11 years.