In an attempt to bring back the 2019 numbers, the New Jersey resort town has a series of interesting projects on the horizon. The list includes a much-anticipated water park located nearby the Showboat hotel that will be open all year, along with a number of restaurants, accommodation facilities, and entertainment centers that will be added to a few of the existing casinos in the city.
2023, a Potentially Good Year for Residents and Casinos
The head of Local 54 of the Unite Here union Bob McDevitt expressed the industry’s eagerness to set foot into the new year, now that COVID has been put behind. McDevitt believes 2023 has the potential of becoming “a good year for the residents of the city and for the casinos”. Similar shades of optimism have also been expressed by Resorts Atlantic City’s chief executive officer and president Mark Giannantonio.
Speaking about the local initiatives aimed at boosting safety and cleanliness which he called “cause for optimism”, Giannantonio also explained the economic hardships and very high rates of inflation are now simmering down, adding “a new level of confidence”. Accordingly, he expects Resorts Casino’s customers to notice the difference and decide to visit the venue more often. On the other hand, Hard Rock Casino’s senior vice president of operations Mike Sampson thinks 2023 will be “a challenging year” for the city.
Atlantic City’s Main Goal in 2023: Winning From In-Person Gamblers
The city’s nine casinos are now focused on going back to and even going over the pre-pandemic numbers. Their clear focus for 2023 is to draw their money from in-person gamblers. During last year’s first 11 months, Atlantic City’s casinos managed to gather $2.56 billion from players who visited them in person.
When compared to the $2.47 billion recorded during the first 11 months of 2019, the 2022 figure is giving these venues enough reasons to consider investing in fresh accommodation, dining, and entertainment projects in the new year. Caesars Entertainment will be leading the way with its brand-new restaurant, additional hotel rooms, and entertainment projects underway at three of its casinos in the city.
Hard Rock Hotel & Casino is also looking forward to investing $30 million in the live entertainment vertical in the upcoming months, while Golden Nugget Atlantic City Hotel, Casino & Marina is getting ready to initiate a big renovation project worth several million. Resorts Casino Hotel is also ready to pump a minimum of $10 million in restructuring its hotel and casino floor, while Borgata Hotel Casino & Spa is also working on a series of exciting projects related to its upcoming 20th anniversary.
Ocean Casino Resort is preparing to pay $15 million in exchange for seven new hotel floors and a private helipad. Showboat Atlantic City has also expressed its plans to open an indoor water park just in time for the Memorial Day weekend. The investment will cost the venue $100 million.
Without a doubt, the city’s casino industry seems determined to turn over a new leaf in 2023, in spite of the ongoing economic uncertainty and the important decisions that are still pending an answer. Among them, choosing the best proposal for developing the former Bader Field airport property and deciding whether smoking should still be allowed inside casinos. At the end of last August, the New Jersey Superior Court Atlantic County Law Division decided that the tax relief related to property tax for casinos in Atlantic City goes against the state’s constitution.