Atlantic City’s casinos have once again demonstrated their support for the local economy, contributing a whopping $572 million to the state’s Casino Revenue Fund, despite a slight dip in profits. This report from Stockton University reveals that even with a 0.5% decrease in combined net revenue, the casinos remain crucial to state-funded programs.
Key Points
- Casinos contributed $572 million to the state despite a small revenue decline.
- Nearly half of their earnings now come from non-gambling sources, including hotels and restaurants.
- Tax revenue generated from casinos increased by 11% to $883.2 million.
- Job numbers remained stable with 23,000 employees, boosting local employment.
- Casinos have invested over $1 billion in upgrades to stay competitive.
Why should I read this?
If you care about the economic health of Atlantic City and the impact of the casino industry, this article is a must-read. It shines a light on how despite profit challenges, these establishments are still doing their part for the community. Plus, who wouldn’t want to know where all that casino revenue is going?
