BMM qp strip CI
Jun24.indd 1 STATESIDE
19/6/24 09:49
Be careful what you wish for D
Sharon Harris considers how online success could potentially risk the operational balance of online and land-based properties.
o you know the old saying, “Be careful what you wish for?” What you think you want - or is good for you - sometimes comes back to bite you with surprising consequences. New Jersey, where I live, and California have encountered their own unexpected situations.
New Jersey proudly led and won the online and sports betting legal battles more than 10 years ago. The state now enjoys record revenues that boost the local and state treasuries. As a resident, I am happy with these favorable outcomes. However, these successes could also potentially risk the operational balance of online and land-based properties. iGaming’s revenues are fast approaching the income at traditional land-based resorts. New Jersey’s April 2024 filings show live casinos’ $216. million total revenue edged out online gaming’s $187.9 million-up 18.2 percent from 2023-by about $29 million.
12 JULY 2024
Divided among numerous properties with Internet alliances, this left marginal profits to those brick-and-mortar facilities. Local unions are worried since they are competing against properties in neighboring states. Will New Jersey customers decrease their in-person property visits?
Union leaders are pushing lawmakers to help not only their members, but all Atlantic City employees. They want the legislature to develop economic policies that compensate for these circumstances.
The fact that seasonal weather impacts customer visits nationwide during the year should not be ignored when setting policy anywhere. Who will travel in 10 inches of snow in the Upper Midwest or walk the Atlantic City Boardwalk on a windy, cold winter night in January? New England and Chicago are even colder.
Obviously, a more appealing alternative at those times is playing from a warm, cozy living room. However, strong seasonal
tourism also lures millions to casino locations for gambling, dining,
entertainment and socialization. No one can get that while sitting on their sofas. Casinos must maximize the “ups” and minimize the “downs” of their specific environments. Out West, record-breaking heat waves in Las Vegas and Arizona are already happening. What will their June monthly totals look like?
California has also experienced extreme regional high temperatures, but this year, a different kind of “heat” could also affect their casinos and card rooms. Thanks to Governor Gavin Newsom’s economic policies, average people face personal hardships.
Life is financially tough there and everyone knows it. People and companies who can are fleeing California in high numbers for states with lower costs of living. My own niece plans to return East this year after 11 years in Los Angeles.
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