Atlantic City casino revenue up, but newbies hurt others
ATLANTIC CITY, N.J. (AP) — Two reopened casinos and half a year of sports betting helped push Atlantic City’s casino revenue up 7.5 percent in 2018 to nearly $2.86 million.
Sports betting saw the casinos and two racetracks take in $1.24 billion since the first wagers were taken in June. For the less than six months that sports betting was legal last year, it generated just over $94 million in revenue for casinos and tracks.
But beneath those numbers, statistics released Monday by state gambling regulators show that the addition of the Ocean Resort and Hard Rock casinos sent winnings lower at most other casinos.
Of Atlantic City’s seven casinos that operated before the two new additions last year, only the Golden Nugget showed a revenue increase for the year.