Online casino gaming turning Atlantic City around?
Some people argue that online casino gambling is major competition for the land-based world. We’ve always argued that online gambling complements the live casino world. Those who play online don’t stop playing live. In fact, online casinos often fuel excitement for the land-based world. And in many cases, it drives foot traffic to the properties.
That’s seemed to happen in Atlantic City. Several properties launched online casino sites back in November 2013, including Tropicana. Many property managers have reported that those signing up for a player’s card at the hotel are new gamblers who only decided to explore the properties after playing online.
And many casino hotels are doing everything they can to make their properties stand out from the crowd, investing buckets of money into the property to up their game and stand out from the competition.
Tropicana is one of them. The casino hotel is undergoing a major transformation and will soon be unrecognizable to those who frequented the property 7 or so years ago. Under its current owner, Carl Icahn, Tropicana has seen $130 million invested in the property. And now, the casino hotel is undergoing another renovation that will be completed by Memorial Day weekend.
Now, $50 million is a drop in the bucket compared to the $130 million already spent. But the latest renovation promises to add a facelift to not just the Tropicana, but also to the entire region.
Part of the transformation includes an outdoor light show on the façade of the property. It’ll be so bright and impressive that you will be able to see it miles away. Last year, the casino took in $297 million from gamblers, which ultimately helped fuel this renovation.
But online casinos definitely have a lot to do with it. Last month, Tropicana took in over $3 million in revenue hosting online casino games. That number is available in the New Jersey Division of Gaming Enforcement’s monthly Internet Gambling Revenue report. The same report shows that many of the competition have also taken in millions.
That’s monthly cash that the casino didn’t have less than two years ago. And it’s allowing them to do big things, reinvest in the property, and return Atlantic City to the glory days when it was a luxurious seaside resort town.
As Tropicana reinvents its façade to shift the spotlight its way, expect the other properties on the boardwalk to do the same. Those dark days of a dimmed Atlantic City could soon be a distant memory. We could very well be returning to the Las Vegas East heydays and you can thank online casinos for making that happen.
