Twenty-twenty has been a challenging year across the globe, with entire industries crumbling under the pressure of the global Covid-19 pandemic.
The USA is one of the first countries in the world where the high number of vaccinated people is allowing activities such as indoor hospitality to return to somewhat normal levels, and the Atlantic City casinos are looking to take advantage.
The massive AC casinos have lost millions in revenues over the past year, and must still obey the social distancing rules on their grounds, meaning a limited number of people are allowed to enter at any one time. Yet, it seems they are preparing for the post-pandemic life, as millions in new investments have been announced in recent weeks.
Ocean, Harrah’s, and Hard Rock Opening Their Checkbooks
The past month has been a very eventful one for the east coast gambling capital, as several Atlantic City based casinos have announced massive investments in their facilities. Among the first to do so were the Ocean Casino Resort, who are spending $15 Million to renovate their casino floor and outdoor amenities.
A much more substantial investment was announced by Caesars Entertainment, the owners of the Harrah’s Casino, who pledged $400 Million over a three year period to improve their three AC properties (Caesars, Tropicana, and Harrah’s).
Bally Corp is also looking to expand their AC operations by investing $90 Million into their casino, which they purchased from Caesars Entertainment just last year. The latest to join the trend is Hard Rock, as they told The Associated Press they would be dishing out $20 Million on suite renovations and an opening of a new Starbucks, as well as new slot machines and casino tables.
All in all, Atlantic City is probably looking at a Billion dollar investment over the next few years, all powered by the massive casino companies that have been running the city for years. All of this, of course, comes with a hope that tourists will be able to return in huge numbers this and the following years without any restrictions in place.
Are the Investments Worth It?
Looking at the numbers over the last year and a half, one could say that live gambling is dead and online gambling in New Jersey is taking over. However, there is no denying that this has largely been a function of the pandemic and the related restrictions, and there is no telling how those numbers will look once life returns to normal.
As one would expect, many people were shy about visiting the AC casinos even as they reopened. The chances of catching the potentially deadly disease were enough to keep many at home, playing Casinotalk Slots, and waiting for a better time. That time may have come now, as the CDC announced that vaccinated Americans no longer had to obey the anti-pandemic measures.
The months ahead will show just how this new trend will catch on, and whether enough Americans will decide the time to visit AC has come. The casino moguls clearly think so, as they reaffirm their commitment to the city with these massive investments.