Atlantic City casinos closed in mid-March 2020 because of the COVID-19 pandemic. The gaming industry but not completely stopped. The part of the industry working was online gaming.
Gamblers took up online gaming and picked up their smartphones and tablets. It gave casino operators a much-needed revenue boost.
Brick-and-mortar casino revenue fell by nearly 44% to $1.5 billion in 2020 compared to 2019. But their Internet gaming revenue increased by 101% to $970.3 million in 2020 compared to 2019.
The progress of internet gaming over the last year granted revenue help to casino owners. The state is wondering now whether the same trend will continue for brick-and-mortar revenue in the long term or not.
During the pandemic, people explored ways to do things at home. It was not just for online gaming. They were looking for almost everything online. Dustin Gouker said he is the lead analyst for PLAYIJ.
He added. “And online casinos were the gainer of that trend. The benefit was more in New Jersey and Pennsylvania. Here online casinos were already legal. That drift brought in new customers. This might not have got them otherwise.”
Gov. Chris Christie signed internet gaming legislation into law in February 2013. After that, it had made the resort’s gaming market more competitive. And Online gaming has now become a vital part of revenue for casinos.
“Vision into particular gambling behavior requires further research. We have seen a turn in the gaming market overall. Online gaming is popular now, under pandemic conditions. However, it does not mean that it will replace physical gaming options after the pandemic.” said Jane Bokunewicz, coordinator of Stockton University Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism.
Golden Nugget Atlantic City, online casino revenues increased by close to 65%. Growth is over 3 percent than they would have expected without the pandemic. Said Warren Steven, vice president of Golden Nugget Online Gaming.
Steven added. ”This was because of a sped-up adoption of online gaming by casino players. It means a larger number of new players in casinos closure. With people at home and having fewer entertainment options, players increased gaming.”