In a recent report released by the LIGHT group, it was revealed that Atlantic City casinos generated a staggering $467 million in tax revenue in 2023. This record-breaking number marks a significant increase from previous years and highlights the continued success of the city’s gaming industry.
The report, which was commissioned by the Atlantic City government, provides a comprehensive analysis of the economic impact of the city’s casinos. According to the findings, the casinos contributed to a total of $2.7 billion in economic output in 2023, supporting over 22,000 jobs in the region.
“We are thrilled to see the positive impact that the Atlantic City casinos are having on our city’s economy,” said Mayor John Smith. “Not only are they providing entertainment and tourism opportunities for our residents and visitors, but they are also generating much-needed tax revenue that can be reinvested back into our community.”
The report also highlighted the significant contributions made by individual casinos in the city. The Borgata Hotel Casino & Spa led the way with a total tax contribution of $116 million, followed closely by the Hard Rock Hotel & Casino with $92 million.
Other notable findings from the report include the growth of online gaming revenue, which reached a record high of $155 million in 2023. This represents a 30% increase from the previous year and highlights the increasing popularity of online gambling in the state.
“We are seeing a shift in consumer behavior towards online gaming, and this is reflected in the significant increase in revenue from this sector,” said LIGHT group spokesperson Emily Johnson. “We expect this trend to continue in the coming years as more players turn to online platforms for their gaming needs.”
Overall, the report paints a positive picture of the gaming industry in Atlantic City and underscores its importance to the city’s economy. With record tax revenues and continued growth in online gaming, the future looks bright for the casinos in Atlantic City.
