2023 LIGHT Snapshots
While April 2023 fell just shy of April 2022 for brick-and-mortar gross gaming revenue (down 1.6%), it set a new near-term record for total April GGR for Atlantic City’s casino operators ($420.9 million in April 2023 compared to $386.8 million in April 2022). Read more from Stockton University.
Eric Weiss: “Atlantic City has a great infrastructure and is a great location for esports to thrive”
The new space created in Atlantic City by Casino Esport Conference (CEC) and the Esports Innovation Center (EIC) of New Jersey’s Stockton University will have the insights and input of one of the key people who helped develop and enforce the state’s regulations for online gaming and sports betting. Read more from yogonet.com.
LIGHT Comments on First-Quarter 2023 DGE Report
Comments from Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT), Stockton University School of Business, on the first-quarter 2023 numbers released Monday by the state Division of Gaming Enforcement: Strong gross gaming revenue (GGR) does not always translate into strong net revenue or gross operating profits (GOP). […]
NJ total gambling revenue up 9.5% in April, but in-person casino revenue down 1.6%
New Jersey’s casinos, racetracks that accept sports bets and their online partners won $462.7 million in April, an increase of 9.5% from a year earlier. That figure includes winnings from internet and sports betting operations. But the amount won on-premises by physical casinos fell by 1.6% to $231.4 million. Because revenue from online […]
A.C. Electric continues expanding efforts with diverse suppliers; spent $129M in 2022
Atlantic City Electric said it recently purchased $129 million in goods and services from diversity-certified suppliers in 2022, representing 37% of the company’s total yearly purchases, up $10 million from 2021 and the most spent with diverse suppliers in the company’s more than 100-year history. “We take tremendous pride in growing our commitments with local and […]
EDA approves investment firms to manage funds to support small and early-stage businesses
The New Jersey Economic Development Authority announced it has selected six firms to help manage and deploy capital for three unique investment strategies funded through the federal State Small Business Credit Initiative: the Blended Capital Fund, Life Science/Health Care Fund and Socially & Economically Disadvantaged Individuals Seed Fund. The fund managers will be responsible for raising, or […]
NJ tourism rebounds after pandemic peaks
New Jersey is seeing visitors and spending making its way back to pre-pandemic levels, according to a new report from the New Jersey Division of Travel and Tourism. The 2022 Economic Impact of Tourism study notes the state welcomed about 114.6 million visitors in 2022, 18 million more than in 2021. The study also revealed visitors spent $45.4 […]
New Jersey may have green-lit legal weed, but whether or not the Jersey Shore wants it is still hazy
New Jersey might be the Garden State, but the Jersey Shore is certainly lacking a specific kind of greenery — cannabis. Last year was the first summer of legal weed sales in New Jersey, however a year in, there is only a single adult-use cannabis dispensary for adult consumers at southern beaches in New Jersey […]
Atlantic City casinos, chamber team up to do traffic study on Atlantic Avenue ‘road diet’
The Casino Association of New Jersey and the Greater Atlantic City Chamber are commissioning an independent traffic study to try to determine the effects of the planned Atlantic Avenue “road diet” on drivers. “As you all know, the casino industry has been opposed to the road diet in its current form,” Casino Association President […]
A.C. Boys and Girls Club garden helps community engagement grow
A large group came together this week to help beautify the community garden at the Atlantic City Boys and Girls Club. The club’s Chief Strategy Officer Brian Little and Atlantic City Police Sgt. Brian Shapiro hosted the event that included their organizations along with the Atlantic County Prosecutor’s Office, students from the Atlantic County Institute […]