And the Ocean Casino Resort had a profit of $43 million, up more than 10% from a year earlier. Hard Rock posted a gross operating profit of $44.3 million in the third quarter, up less than 1% from a year earlier. (AP) - Atlantic City's casinos and two internet-only entities earned $281.2 million in the third quarter of this year, a decline of 7.5% from the same period a year ago, New Jersey gambling regulators said Tuesday.įigures released by the state Division of Gaming Enforcement show that while the nine casinos collectively surpassed the level of profitability they enjoyed in the third quarter of 2019, before the COVID-19 pandemic, that was largely due to the strong performance of the two newest casinos, and an accounting change by another one. In addition to New Jersey, internet gambling is legal in Pennsylvania, Nevada, Michigan, Delaware and West Virginia.ATLANTIC CITY, N.J. Some casino executives say as much as 70% of online winnings go to their partners in online ventures. Money from online winnings must be shared with partners like tech platforms and, in the case of sports betting, sports books, and is not solely for the casinos to keep. While welcoming the additional revenue, casino executives caution that internet gambling winnings can be misleading in terms of the overall health of their businesses.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market, said internet gambling is becoming part of the new normal for many gamblers.

While it has undoubtedly provided a new revenue stream for Atlantic City’s casinos, internet gambling appears to be permanently changing the habits of some gamblers who would rather bet from home, the office, the beach or other places instead of visiting casinos in person.

He declined to comment on the change in the bill reducing it from 10 to two years.

Atlantic city gambling history