Atlantic City casinos win over $3B for first time since mass closures

January 15, 2020 NJBIZ

By Daniel J. Munoz

Atlantic City casinos won almost $3.3 billion from gamblers in 2019, aided by the surge in sports betting and online gaming. Last year’s numbers mark the first time since 2012 that the casinos made more than $3 billion—before the city saw the closure of five casinos, leading to near financial ruin of the seaside resort town.

 

According to the Division of Gaming Enforcement, an arm of the state government which regulates the state’s sports betting and gambling industries, casinos took home $3.29 billion of bets.

 

“Atlantic City had another tremendous year, with gaming revenue up for 19 consecutive months,” said Rummy Pandit, who heads the LLoyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University. “Sports betting and internet gaming has continued to grow gaming revenues in 2019 and we anticipate similar growth in 2020.”