After the Closing of the Trump Taj Mahal on the 10th of October, only seven casinos remain in Atlantic City. Although, the fifth operator to close had a small impact on the rest of the gaming revenues during that month.
The DGE in New Jersey (Division of Gaming Enforcement), last week announced that the total venue of the land-based and online casinos was approximate $202 million. This is only 0.7% less than the same month in the last year when the city had a total of eight functioning casinos.
Unfortunately, without online gambling, which was approximately 30% in October, the land-based revenues was down 2.7% or nearly $5.2 million. However, the remaining casinos, posted a 5.9% gain, after the Trump Taj Mahal’s finances were removed from the calculations.
After years, Atlantic City finally has a sense of stability. Unfortunately, the next year will be a critical period for the popular gambling destination. The stated assumed the control over the town’s governmental operations. Jeffrey Chiesa, who is a former attorney general and Senator will lead the economic revitalization efforts.
He stated that he will listen to the people and will do his best to work hard with the local stakeholders. He continued saying that they will put Atlantic City back on the path to fiscal stability.
The city will remain a monopoly in the gambling in New Jersey after the voters chose against a constitutional amendment on the Election Day, which would have brought casinos to the northern parts of the state.