Besides the lingering question of when the casinos will reopen, there is still some uncertainty about what Atlantic City casinos will look like when the time comes to open their doors, although the picture is starting to come into focus.
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Gov. Phil Murphy says he hopes to permit Atlantic City’s casinos to reopen in time for the Fourth of July holiday but warned that restrictions and changes in how casinos operate will be needed.
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The owner of Atlantic City’s Showboat hotel plans to build a $100 million year-round indoor water park next to it and will break ground in August, he said Wednesday.
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Atlantic County Democratic Chairman Michael Suleiman is asking Gov. Phil Murphy to come up with a plan to safely reopen Atlantic City casinos by the July 4th weekend.
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Despite reopenings being instituted up and down the Jersey Shore ahead of Memorial Day weekend, and amid a slowdown in the COVID-19 pandemic, Gov. Phil Murphy reiterated that casinos could be a much tougher “nut to crack.”
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New Jersey's retail and online sportsbooks took in a third of the expected handle in March, while online casinos and poker rooms boomed.
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With few sports to bet on and retail sportsbooks shuttered completely, New Jersey's sportsbooks were out of about $450 million in bets in April, according to PlayNJ estimates. But while sportsbooks and Atlantic City casinos languish, April revenue at online casinos and poker rooms hit a record $80 million.
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The major sports leagues are waiting to see if the U.S. Supreme Court will hear their arguments on whether they have to pay millions to a New Jersey horse racing association over sports betting litigation.
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Governor Phil Murphy (Democrat) recently outlined his “Road Back” plan that has six major points that will be addressed. The hope is that opening the state back up in phases will keep everyone healthy and safe from a surge in positive cases
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On Friday, Caesars Entertainment Corporation and the real estate investment trust VICI Properties announced an agreement to sell the Bally’s Atlantic City Hotel & Casino to Twin River Worldwide Holdings for about $25 million in cash. VICI will receive about $19 million, and Caesars gets $6 million.
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Don’t look for a surge in customers when Atlantic City’s casinos reopen. Based on a admittedly less-than-scientific survey of 100+ slot machine and table game players, only about 10% plan to return immediately. Most others will be a bit more cautious.
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The ongoing coronavirus pandemic has taken its toll on New Jersey’s retail and online sportsbooks during March, reducing their handle to one third of the anticipated total for the month. The cost, according to PlayNJ, was a loss of nearly $370m in sports wagers.
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