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

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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.

Meanwhile, patrons in New Jersey wagered $4.5 billion on sports last year, $3.8 billion of which was done via online and mobile apps, according to the DGE. The rest was wagered at in-person sportsbooks at the Monmouth Park and Meadowlands racetracks, and the Atlantic City casinos.

“There is a lot of positive momentum going into the new year,” said James Plousis, who chairs the state’s Casino Control Commission.

Patrons bet more at the Atlantic City sportsbooks than in Nevada for the months of April, May and August last year.

“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.”