{"id":134,"date":"2024-06-15T13:26:02","date_gmt":"2024-06-15T10:26:02","guid":{"rendered":"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/15\/atlantic-city-casinos-return-to-profitability-thanks-to-online-gaming-boom\/"},"modified":"2024-06-17T13:11:09","modified_gmt":"2024-06-17T10:11:09","slug":"atlantic-city-casinos-return-to-profitability-thanks-to-online-gaming-boom","status":"publish","type":"post","link":"https:\/\/luckycreek100nodepositbonus.icu\/2024\/06\/15\/atlantic-city-casinos-return-to-profitability-thanks-to-online-gaming-boom\/","title":{"rendered":"Atlantic City Casinos Return to Profitability Thanks to Online Gaming Boom"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/t6MOBIjMRS0\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>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. <\/p>\n<p>New Jersey&#8217;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&#8217;s casinos in achieving profitability after a decade of losses. <\/p>\n<p>In 2016, Atlantic City&#8217;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. <\/p>\n<p>New Jersey&#8217;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. <\/p>\n<p>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&#8217;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. <\/p>\n<p>After a challenging three-year period that witnessed five casino closures and at least 11,000 job losses, the continued expansion of New Jersey&#8217;s online gambling market, which is the largest in the country, is assisting Atlantic City&#8217;s casinos in recovering. <\/p>\n<p>In more positive news, Pennsylvania, the nation&#8217;s second-largest gaming market, is anticipated to experience a 1% revenue increase this year, reaching $3\u2026 <\/p>\n<p>The year 2016 saw the gaming sector flourish, generating an impressive $2 billion.  Adding to the good news, Nevada, the nation&#8217;s gambling mecca, declared its return to profitability for the first time following the economic downturn of 2008. <\/p>\n","protected":false},"excerpt":{"rendered":"<p class=\"text-justify mb-2\" >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&#8217;s gaming sector, following years of dwindling income, experienced a slight 1.5% rise in 2016. This was driven by [&hellip;]<\/p>\n","protected":false},"author":57,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Atlantic City<\/title>\n<meta name=\"description\" content=\"After years of struggle, Atlantic City is back in the black! 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