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Atlantic City’s proximity to New York City has been a key to its casinos’ sustainability. So, what should those with a vested interest make of Monday’s announcement that three New York City casinos are one crucial step closer to being built?
According to one professor with knowledge of Atlantic City’s gaming market, Atlantic City casinos should make a plan to both articulate what makes them different from New York City and offer a contrast worth checking out for tourists who visit the Big Apple for the casinos.
Jane Bokunewicz spoke Tuesday about the New York Gaming Facility Location Board approving bids from Bally’s, Hard Rock, and Resorts World to build massive casino developments in the Bronx and Queens.
Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University School of Business in Galloway, N.J., said Atlantic City casinos should see this as an opportunity.
Atlantic City casinos could benefit in the long run
At the start of the process, eight different casino operators were vying for city and state approval. There’s no question that the three projects that have won approval could siphon off tourism dollars from Atlantic City.
Bokunewicz said that doesn’t need to be the case.
“The addition of three integrated resort-style properties in the region will, at least in the short term, increase competitive pressure on Atlantic City operators, but hopefully, the city will be able to distinguish itself in the long term. While New York’s properties will soon boast many of the same dining and entertainment amenities that have long been available in Atlantic City, they will never have the beach and historic Boardwalk.
“The new properties willlikely attract international visitors and audiences that have not considered Atlantic City before. This could actually be a plus for Atlantic City. Since two of the operators will have interests in both New York and Atlantic City, they may seek to leverage interest in the new properties to bring greater attention to Atlantic City.”
She also pointed out that because construction on the New York City projects could extend into 2030, “Atlantic City’s properties have a short respite and perhaps a little more time to cultivate their response strategy.”
‘We must accelerate Atlantic City’s transformation’
Her comments correspond with the initial comments from Casino Association of New Jersey President Mark Giannantonio, whose reaction was reported by NJBiz.
“We recognize this expansion will have a negative impact, over time, on the Atlantic City market, which makes our mission even clearer: We must accelerate Atlantic City’s transformation into a leading year-round resort destination. The Atlantic City casino industry has already made significant strides in diversifying its offerings to provide a world-class experience for its customers, investing more than $1 billion in their properties over the past five years.”
Atlantic City casinos include:
- Bally’s Atlantic City
- Borgata Atlantic City
- Caesars Atlantic City
- Golden Nugget Atlantic City
- Resorts Atlantic City
- Tropicana Atlantic City
- Wild Wild West Atlantic City
According to the 2024 annual report from the New Jersey Casino Control Commission, Atlantic City casinos brought in total gaming revenue of around a record-high $5.7 billion last year.
