Contact:
Mark Melhorn, Stockton University
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https://stockton.edu/media
Emily D’Alberto, Casino Association of New Jersey
[email protected]
Atlantic City, NJ (May 15, 2024) – The Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism (LIGHT) at Stockton University released a new report today in collaboration with the Casino Association of New Jersey (CANJ) called 2023 IMPACT: Atlantic City Casino Industry. According to the report, despite market challenges, the Atlantic City casino industry was able to generate $467 million in gross gaming tax revenue in 2023, representing a nearly 12% increase over the industry’s last peak in gross gaming tax revenue in 2006. The industry continues to be one of the largest employers in southern New Jersey and a source of vital tax revenue benefitting New Jersey’s most vulnerable residents.
“Despite its triumphs and challenges, Atlantic City continues to persevere. The casino industry remains the economic engine of not only South Jersey, but the entire State of New Jersey,” said Jane Bokunewicz, PhD, Faculty Director, LIGHT at Stockton University. “The industry has paid significant dividends to the city and state over the past five decades and will continue to play a vital role in the long-term success of the region.”
“As one of the largest employers in southern New Jersey, we know that when our properties are successful, so are our employees and the communities we serve,” said Mark Giannantonio, president, Casino Association of New Jersey (CANJ). “This new report from the LIGHT at Stockton University is meaningful because it helps shed light on how the revenue the casino industry generates is dedicated to supporting some of New Jersey’s most vulnerable citizens. It also shows our support for vendors from all corners of the state and the investments we are making to continue Atlantic City’s transformation.”
The Atlantic City casino industry still has not recovered from reductions in business since the COVID-19 pandemic, with casino wins generated from patrons at six of the nine Atlantic City properties year-to-date still lagging those from pre-pandemic periods. The industry also has faced numerous additional challenges in that same period including increases in regional gaming competition, operating expenses, inflation, labor costs, and labor shortages.
Despite these challenges, the casino industry has continued to make significant capital investments and remained a strong community partner. In addition, growth in online gaming revenue, which is taxed at a higher rate than brick-and-mortar gaming revenue, led the industry to record-high total gaming tax contributions for the year.
Highlights of the report include:
Click here to view the report.
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About Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at Stockton University
The Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at Stockton University provides a forum for public policy discussions regarding the gaming, hospitality and tourism industries in New Jersey. The Levenson Institute engages Stockton’s faculty, students and others in research, conferences and report writing to support sound decision making among policy makers and leaders in the region’s three largest industries. Along with other Stockton University centers, institutes and programs, LIGHT is a key part of Stockton’s commitment to playing a central role in issues that are vital to the economic and social well being of our community and region.
About the Casino Association of New Jersey
The Casino Association of New Jersey (CANJ) is a trade organization that provides a collective voice for the Atlantic City casino industry by facilitating the exchange of information and ideas between our industry, small businesses, Atlantic City stakeholders and the general public. The CANJ consistently advocates for legislation and initiatives that support the ongoing revitalization of Atlantic City into a world-class destination resort. A thriving casino industry drives economic growth, job creation, increased tax revenue for state and local budgets, and prosperity for city residents, hardworking families and businesses which rely on the casinos for their livelihood. Our goals are simple: protect and grow the tens of thousands of jobs the casino industry supports across New Jersey and continue Atlantic City’s transformation into a world-class destination resort. For additional information, please visit www.casinosnj.org
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Photo Credit: Casino Reinvestment Development Authority
