Evolution Proposes $75M Facility to be Housed in Atlantic City
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Evolution, the Sweden-based online gambling company that specializes in live dealer casino games and is a partner of many , is looking to become even more ingrained in the United States online gambling sector following a proposed live dealer studio in Atlantic City, New Jersey.
The live dealer studio proposition would be located on Fairmount Avenue and cost $75 million.
Currently, Evolution has studios inside several big-name Atlantic City casinos, including Hard Rock Hotel & Casino, Ocean Casino Resort, and Tropicana.
Evolution has now submitted a land use petition with the Casino Reinvestment Development Authority (CRDA). This agency is meant to disburse casino gaming taxes in a way that enhances the town. This agency has land-use authority in the Tourism District of Atlantic City, where all nine retail casinos are located.
A parking lot currently occupies the area where Evolution wants to set up shop. The CRDA owns that parking lot, though, and Evolution would either purchase the land or receive it as a donation from them.
Evolution is currently represented by Lloyd D. Levenson of Cooper Levenson to get the deal done. Levenson has told the CRDA that Evolution has 850 employees, but could double that number with a new facility. Evolution estimates that by 2029, they could have more than 2,000 employees.
Per NJ online gambling law, live dealer operations can only be conducted within the confines of Atlantic City.
Online casino revenue has been massive for the region, especially in a post-COVID-19 world. Before the pandemic, it was about $483 million.
Last year, it was nearly $2 billion, and now, through the first four months of 2024, it’s already 21% ahead of last year's record-breaking figure.
Now we wait to see if Evolution will get their new complex.
