More Younger People visiting Atlantic City Casinos during Covid-19 pandemic
Younger people are visiting the New Jersey beachfront gaming hub of Atlantic City in the wake of corona virus pandemic, Hard Rock Hotel & Casino Atlantic City President Joe Lupo said.
In a recent interview, Mr. Lupo said that restrictions caused by the Covid-19 pandemic have resulted in not just a “new normal” but also new customer demography. He explained that a younger demographic started visiting the gaming town in the wake of pandemic, thanks to technological advancements and pent-up demand for entertainment.
Commenting on the recovery of the gaming sector, Mr. Lupo added that the gaming properties would likely see a reversal in the declining gaming revenues after the coming winter season.
Speaking on the topic, Mr. Lupo said, “We definitely haven’t seen the number of elderly slot players as we did last summer. We’re seeing a younger crowd here on the Jersey Shore … With COVID, there will be a much longer time period before volumes get back to where they were. I think you’re going to see declines in casino revenue probably until next spring.”
Earlier this month, Penn National Gaming (PNG) Chief executive Officer Jay Snowden expressed similar views, while confirming that PNG properties across the country were also seeing younger gaming enthusiasts.
According to industry experts, the continued shutdowns of other entertainment venues like restaurants and movie theaters are encouraging many millennials to visit a casino instead. He also credited technological innovations made by his company, such as cashless payments and various contactless initiatives, for attracting younger gaming enthusiasts. He stressed that the days of visiting ATMs to get cash to spend at a blackjack table are gone. He also credited his company’s collaboration with Barstool Sports for attracting a younger demographic.
Like in any other part of the world, hard rock and other casinos in Atlantic City are currently in the midst of economic crisis. In the month of July, Gross Gaming Revenue (GGR) at land-based casinos in Atlantic City dropped year-on-year 47 per cent to $147.7 million.
After resuming operation in late June, Hard Rock quickly emerged as one of the highest revenue generators in the city. Through July, the popular gaming venue generated a GGR of $80.2 million. In term of July GGR, Hard rock stood at No. 3, behind the Borgata and Harrah’s, which generated GGRs of $140 million and $80.9 million, respectively.
United Kingdom News
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