Following ten years of economic hardship and deficits, Atlantic City has rebounded to profitability. This revival is largely attributed to the flourishing internet gaming sector.

New Jersey’s gaming sector, following years of dwindling income, experienced a slight 1.5% rise in 2016. This was driven by the online gaming industry, which has generated substantial income for the state and aided Atlantic City’s casinos in achieving profitability after a decade of losses.

In 2016, Atlantic City’s seven casinos earned $2.6 billion in gaming revenue, marking the first year-over-year growth since 2006. Back in 2006, Atlantic City boasted 12 casinos and a record $5.2 billion in revenue.

New Jersey’s internet gaming revenue hit $196.7 million in 2016, a 32% surge from 2015. Casino games generated $170.2 million, a 36% rise, while poker revenue climbed 11% to $26.5 million.

Physical casino revenue experienced a minor decrease in 2016, although the decline is less substantial when considering the $65 million revenue loss from the now-closed Taj Mahal casino. Only two casinos reported revenue drops in 2016, with Harrah’s down $16 million to $358 million. However, without the contribution from online gambling, the overall market would have seen a 0.3% year-over-year decrease.

After a challenging three-year period that witnessed five casino closures and at least 11,000 job losses, the continued expansion of New Jersey’s online gambling market, which is the largest in the country, is assisting Atlantic City’s casinos in recovering.

In more positive news, Pennsylvania, the nation’s second-largest gaming market, is anticipated to experience a 1% revenue increase this year, reaching $3…

The year 2016 saw the gaming sector flourish, generating an impressive $2 billion. Adding to the good news, Nevada, the nation’s gambling mecca, declared its return to profitability for the first time following the economic downturn of 2008.