Casino competition from New York is about to come closer to Atlantic City. That’s why New Jersey Gov. Phil Murphy says the state will give Atlantic City nearly $60 million during the next couple of years to help it stay in the game. That includes $16.8 million that will immediately supplement city coffers.
The Press of Atlantic City reports on Monday:
Murphy said the best way Atlantic City can prepare for competition from New York City casinos, expected to open in the coming years, is to improve the city and the experience it provides to visitors.
Next month, the New York State Gaming Commission (NYSGC) will begin creating the Gaming Facility Location Board (GFLB). That board will decide which entities can buy the three new Downstate New York retail casino licenses, which will likely cost $1 billion each.
Casino Competition Currently Favors NJ
At the moment, New York houses 31 retail casinos that generated $3.64 billion in gross gaming revenue (GGR) during 2021. A dozen are commercial casinos and 19 belong to tribes, according to the American Gaming Association (AGA).
Conversely, New Jersey only has nine commercial casinos, all in Atlantic City. However, the GGR in what Murphy calls “the East Coast’s premiere resort city” far outpaces New York’s, at $4.74 billion, AGA figures show.
Where New Jersey leaves New York in the dust is online casino gambling.
New York online casino betting isn’t yet legal.
The Garden State’s online casino game is so robust that online gambling operators often enter US online casino markets by testing their apps first in New Jersey.
New York legislators may consider legalizing online casino and poker next year. Sports betting launched on Jan. 8 in New York.
New York Is Considered Safer
That funding for the shoreline municipality 125 miles south of New York City will need to stretch far to clean up America’s Playground. Because although it’s a resort, Atlantic City has a reputation as one of the most dangerous US cities.
One in 125 people will become a victim of a violent crime there, according to NeighborhoodScout.com.
Venturing across the border into New York State cuts that likelihood by more than half, with one in 287 people meeting that same fate. In New York City, though, one in 172 people may fall victim to a violent crime, says NeighborhoodScout.com.
That’s why Atlantic City Mayor Marty Small’s announcement during Monday’s press conference may be getting the most attention. Small says $5 million of the $16.8 million coming to the city from this year’s state budget will purchase a citywide security camera system.
During Murphy’s press conference on Monday in Atlantic City about New Jersey’s direct funding to the city, Small says of the camera system:
Every street will be under surveillance.
Small cited the camera system supplier’s statistic that it reduces crime by 76%.
The Commitment to Clean Up Atlantic City
Murphy said Monday that the monetary commitment means the state is backing up its words with financial and other help for Atlantic City.
The Fiscal Year 2023 state budget allocates $43 million in direct funding for the city. That’s in addition to the $16.8 million mentioned on Monday.
There’s a short list of communities – and Atlantic City’s on it – as it goes, so goes the state of New Jersey.
Atlantic City’s annual budget is $235 million.