According to data by New Jersey gambling regulators, Atlantic City casinos experienced a nearly 14% drop in operating profits during the third quarter of 2024.
NJ Division of Gaming Enforcement reported that AC’s nine casinos collectively earned a gross operating profit of $236.5 million for the quarter, marking a 13.8% decline compared to the same period in 2023.
This decline highlights challenges faced by casinos grappling with economic pressures and shifting consumer habits.
Critics point to the increase of crime hurting in-person visits to AC.
- Dark streets. Poor street lighting.
- Open drug sales and consumption.
- Lack of criminal prosecution.
- Defund police efforts of AC Mayor.
- Sanctuary city and state status.
- CRDA approval of 39 Cannabis applications.
- Mayor and school boss wife indicted for child abuse
- Loss of AC Airshow.
- Loss of beach concerts.
- Loss of Miss America.
The growing popularity of online gambling, where winnings must be shared with external parties, has further impacted Atlantic City casinos preventing them from keeping all money wagered.
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Down, down, down. In the old days, before weed was so available, when the Mayor’s family seemed like everyday families, when there was an annual airshow (as a pilot, I care), when ‘Broadway on the Boardwalk’ gave us all a taste of that faraway wonderland, and where did Miss America go? Add to those difficulties, the bumpy streets, particularly Atlantic Avenue, keep drivers away, fearing high costs for car repairs. And we all know about the crime rate.
I know many who used to be regulars but who have noticed the absence of the old magic, so stay home or go elsewhere. Pity.