What Does the Resurgence of Atlantic City Casinos Mean for iGaming in NJ?
With the Atlantic City casino industry on the rebound, there is much talk about whether land-based casinos will keep pace with iGaming in New Jersey and other parts of the country.
It is evident that casinos are improving, but online gambling still has an edge. The casino business is now two years into a recovery from the chaos of the pandemic. With the reopening of Las Vegas and other major gaming centers, the land-based casino industry has seen some positive trends.
The Casino Industry Was Dealt a Losing Hand in the Spring of 2020
When COVID-19 hit, gambling establishments around the world shut their doors. Players couldn’t sit down at the poker table, feed quarters into a slot machine or enjoy a night out with friends playing craps.
Like most businesses, casinos faced a difficult question: How would they survive?
The answer for many land-based casinos was to shift toward online gaming, and it paid off.
But while land-based casinos are thriving, online gambling remains strong. Click here to see sites that will allow you to enjoy gaming. The trends on the internet suggest that it’s not just a pandemic phenomenon but rather an ongoing shift in consumer behavior.
In March 2020, the United States saw its first month of double-digit growth in online gaming revenue. It’s been growing ever since. In January 2021, the U.S. iGaming market brought in $235 million in revenue, nearly double the $132 million from January 2020.
And that’s not just online casinos. Online poker and sports betting are also seeing impressive growth numbers.
But What Does That Mean for Online Gambling?
Since its inception in November 2013, iGaming has been a savior for Atlantic City’s failing casino industry. The conventional wisdom was that online gambling would bring in new players who would then get encouraged to visit land-based casinos.
Unfortunately, the reality hasn’t lived up to expectations. While some people have tried out online gambling and then visited an Atlantic City casino for the first time, most of the revenue generated by New Jersey’s iGaming sites has come from existing land-based customers.
Many land-based gamblers are happier playing from home, either on their desktops or via mobile devices. It isn’t surprising that online gambling revenue is higher than from brick-and-mortar casinos.
Reopening of Atlantic City Casinos Is a Positive Sign for the Future of NJ Online Casinos
The resurgence of Atlantic City casinos is excellent news for the state of New Jersey. They are not the only reason why New Jersey’s economy is growing. With iGaming becoming more popular each year, it also means that New Jersey will be able to thrive as a place where people can play online casino games.
As long as Atlantic City casinos keep performing well, it should also mean that there will be plenty of opportunities for new players to get involved with iGaming in New Jersey.