*Blog postings do not necessarily reflect the views of Fantini Research

By Steve Norton
CEO, Norton Management

AC Market: ‘Very Healthy’ or ‘Cannibalized’ After New Casino Openings?

My comment:

I repeat, it is critical that we get a commercial airline. AC saw a lot of old faces, checking out Hard Rock and Ocean Resorts, but now we are past Labor Day, and mid-week visitors will disappear. Fortunately, casino property debt is lower than when we lost five resorts.

We have also made online gaming more popular, especially with the addition of sports betting thus fewer reasons to actually go to AC.

Something's got to change.

By Steve Norton
CEO, Norton Management

Focus on Positive in AC Aviation Development Incentives


My comment:

This could be great news for Atlantic City and South Jersey, but the benefits seem to favor companies supporting aviation, not an actual commercial airline company. We have one airline company, Spirit, but they are taking area residents to southern destinations, not bringing visitors to AC or South Jersey.

With the opening of Hard Rock and Ocean Resorts, AC has experienced a 30% growth in casino resort accommodations and gaming capacity. And even during our peak season, July and August, our casino revenue growth did not match the increase in capacity in spite of the addition of sports betting.

By Steve Norton
CEO, Norton Management

AC’s Established Casinos Paying Price for New Entrants

My comment:

Most of my comments on Atlantic City casino gaming deal with the need for air service, while others concentrate on sports betting and its availability online in New Jersey.

September's sports betting totaled $184 million, with 60% coming from online sites. With hold at 8%, the casino sports betting win was only $15 million and the tax, with a lower rate at live sites than online, provide around $2.5 million thus doing little for the casinos or the state.

By Steve Norton
CEO, Norton Management

Football Helps NJ Sports Bets Nearly Double to $184 Million


My comment:

From an Atlantic City perspective, it's important to know where the bets are being made. How much of the $184 million was bet on computers or phones, away from a live gaming operation? The New Jersey, and Atlantic City data is also overstated by the Pennsylvania and Philadelphia markets, still waiting for their first sports betting sites, both live and online, from being operational. A fact, that for the short term, has been especially helpful for Atlantic City.

I still have grave concerns that allowing all sports bets online will have an impact on the state lottery that keeps 60% of every dollar wagered on the various games available, but also the potential impact that convenience will increase the number of problem gamblers as they will be able to bet on every play on a football game.

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