What's happened
New Jersey's nine casinos reported a 13.8% drop in gross operating profit for Q3 2024, totaling $236.5 million. This decline reflects ongoing economic challenges and a shift towards online gambling. Meanwhile, casino workers continue to advocate for a smoking ban, citing health risks from second-hand smoke, but legislative progress remains stalled.
What's behind the headline?
Economic Impact
- Profit Decline: The 13.8% drop in gross operating profit indicates significant challenges for casinos.
- Shift to Online Gambling: Increased online gambling is affecting in-person revenues, with only three casinos reporting gains compared to pre-pandemic levels.
Health and Safety Concerns
- Worker Advocacy: Casino workers are increasingly vocal about health risks from second-hand smoke, pushing for legislative change.
- Legislative Stalemate: Despite support from the governor, efforts to ban smoking in casinos have not progressed, leaving workers frustrated.
Future Outlook
- Potential Changes: If smoking bans are enacted, casinos may need to adapt their business models to retain customers.
- Consumer Preferences: The ongoing shift in consumer preferences towards online gambling may continue to impact traditional casino revenues.
What the papers say
According to AP News, New Jersey's casinos reported a collective gross operating profit of $236.5 million in Q3 2024, down from the previous year, highlighting the industry's struggles with economic conditions and changing consumer habits. Jane Bokunewicz from Stockton University noted that the decline in hotel room rates suggests a need for casinos to attract customers. Meanwhile, The Independent reported on the ongoing push by casino workers to end smoking in casinos, citing health risks. Despite Governor Phil Murphy's support for a smoking ban, legislative progress has stalled, leaving workers frustrated. The Atlantic City casino industry fears that a smoking ban could lead to revenue losses, although some argue that smoke-free casinos can thrive, as seen in other states.
How we got here
The New Jersey casino industry has been struggling since the COVID-19 pandemic, with a notable shift towards online gambling. Workers have been pushing for a smoking ban in casinos for four years, citing health concerns, but legislative efforts have stalled despite support from Governor Phil Murphy.
Go deeper
- What are the health risks associated with casino smoking?
- How has online gambling affected traditional casinos?
- What are the prospects for a smoking ban in New Jersey?
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More on these topics
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New Jersey is a state in the Mid-Atlantic region of the Northeastern United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware River and Pennsylvania;
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Philip Dunton Murphy is an American financier, diplomat and politician serving as the 56th Governor of New Jersey since January 2018. A member of the Democratic Party, he defeated then Lieutenant Governor Kim Guadagno in the 2017 gubernatorial election.
