Investments in new projects planned for 2022 in Atlantic City | Health
By WAYNE PARRY – Associated Press
ATLANTIC CITY, NJ (AP) – Atlantic City casinos are moving forward with ambitious new plans in 2022, even as the coronavirus pandemic continues to make it harder to do business.
And non-casino projects involving family entertainment, education, and the offshore wind industry will take off in the New Year.
But the challenges are also hidden.
In-person gambling revenues at seven of the nine casinos are down from 2019, before the pandemic hit. Revenues from sports betting and internet gambling have filled some of the gap, but this money must be shared with third parties, including technology platforms and sports betting, and is not just reserved for casinos.
A law passed and signed by Gov. Phil Murphy in December gives casinos some relief from the steep increases in payments they had to pay to Atlantic City, Atlantic County and the school system in lieu of property taxes.
A big unknown is the length and severity of the COVID19 pandemic, and in particular the fast-spreading omicron variant, will affect the willingness of customers to go out and play in person in 2022.
And a big challenge looms on the horizon when New York City begins allowing people to bet on phones or other mobile devices anywhere in the state, starting in January but almost certainly in time for the Super Bowl in. February.