Casino construction on tap in Atlantic City
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ATLANTIC CITY, N.J. – Leaders of Atlantic City’s casinos are forging ahead with ambitious new projects in 2022, even as the COVID-19 pandemic continues to make it harder to do business.
And non-casino projects involving family entertainment, education and the offshore wind industry will take flight this year.
But challenges lurk as well.
In-person gambling revenue at seven of the nine casinos is down from 2019, before the pandemic hit. Sports betting and internet gambling revenue has filled some of the gap, but that money must be shared with third parties, including technology platforms and sports books, and is not solely for the casinos to keep.
Legislation signed into law by Gov. Phil Murphy in December gives the casinos some relief from big increases in payments they were due to pay to Atlantic City, Atlantic County and the schools system in lieu of property taxes.
A big unknown is how long and how seriously the pandemic, and particularly the fast-spreading omicron variant, will affect customers’ willingness to gamble in person in 2022.
And a big challenge is that New York will soon begin allowing people to bet on phones or other mobile devices anywhere in the state – as soon as this month but almost certainly in time for the Super Bowl in February.
Gambling industry executives and analysts expect New Jersey to lose at least 20 percent of its sports betting volume as New York residents who formerly had to cross over into New Jersey to bet will be able to do so at or close to home.
Mark Giannantonio, president of Resorts casino, said he is “tremendously optimistic for a great year” in 2022.
Starting in February, Resorts will renovate its rooftop pool and add a retractable roof to enable it to be used year-round. Resorts also is investing $5 million into new table games and slot machines, a remodel of its high-limit slots area, and creation of a new VIP Asian-themed room.
The Ocean Casino Resort this spring or summer will see the start of a $75 million project to finish 12 floors of hotel rooms that weren’t completed before the casino opened as Revel in 2012.
Caesars casino will start work in 2022 on a new theater due to open in the first quarter of 2023. The project will incorporate the facade of the former Warner Theatre, which is part of the casino’s exterior facing the Boardwalk.
Also planned for Caesars in 2022 is construction of a new restaurant and renovation of hotel rooms. Caesars Entertainment is partnering with Nobu Hospitality for a project to be called Nobu Hotel Atlantic City.
Bally’s will unveil 750 renovated hotel rooms, a refreshed hotel lobby and bar, and an indoor-outdoor entertainment venue in 2022.
Meanwhile, there are non-casino projects in the works. Ground is set to be broken early this year on a $100 million indoor water park to be built next to the former Showboat casino, which now operates as a non-gambling hotel.
Also, construction is to begin in 2022 on a new ShopRite supermarket in Atlantic City. Currently, it lacks a major supermarket. The store should open in 2023.
Stockton University hopes to this year complete a new student residence hall in the city.
In addition, Atlantic Cape Community College plans to open a wind energy workforce training center on its city campus in the fall.
