Atlantic City Reports Record July Gaming Revenue

Atlantic City reported its highest total gaming revenue for July in over a decade, reaching $547.8 million, driven by significant increases in internet gaming and sports betting. The New Jersey Casino Control Commission noted a 26% rise in internet gaming win and a 34% increase in sports wagering compared to July 2023. However, casino win figures showed a slight decline due to fewer weekend days, though it still marked the fifth-best performance for July in 11 years. Meanwhile, South Carolina is exploring legalizing sports betting, with neighboring North Carolina's model generating over $2.23 billion in online wagers since its launch. This has resulted in significant tax revenues for local universities, with athletic departments expected to benefit greatly in the coming fiscal year. Despite the growth in gaming revenues, concerns remain about the distribution of funds, with less than 2% of sports betting taxes allocated to support programs for problem gamblers.