ATLANTIC CITY — For the second consecutive year, the city’s seven remaining casinos saw an increase in gaming revenues.
Overall casino gambling revenue, including internet gaming, totaled $2.6 billion this year compared with $2.5 billion in 2016, a 2.2 percent increase, according to casino gaming figures released Friday.
“It shows an industry that is getting stronger and healthier and well-positioned for the future,” said Jim Plousis, chairman of the Casino Control Commission.
Colin Mansfield, a director at Fitch Ratings and a lead analyst in the gaming industry, said the yearly revenue numbers show the resort’s gaming market has right- sized itself.
“This is the level that we expected,” Mansfield said. “Right now seven casinos is the right number for this market.”
Last year, the city snapped a decadelong decline in gaming revenue.
“With strong growth in Internet gaming win and the anticipated reopening of two former casino properties this summer, I am optimistic that the Atlantic City casino industry can accelerate its revenue growth trajectory in 2018,” said Christopher Glaum, deputy director of financial investigations for the Division of Gaming Enforcement. “These figures also mark the first year-over-year increase in brick-and-mortar casino win since 2006.”
Internet gambling totaled $245.6 million in 2017 compared with $$196.7 million in 2016, an increase of nearly 25 percent for 2017.
“After a strong 2017, there are multiple reasons to believe the New Jersey online gaming train will continue gain steam in 2018,” said Steve Ruddock, lead analyst for PlayNJ.com, an internet gambling advocacy group. “Operators are increasing their catalog of games and launching innovative new products, such as virtual sports.”