All casinos included in the Atlantic City resort are said to be most at-risk in the nearest future, which is caused by gaming regulations changes, including the possibility of more casino gaming in the region, according to a report drawn by Fitch Ratings.
While Pennsylvania, New Jersey and Arkansas all made a significant progress toward expanded casino gambling, there is a possibility that in New Jersey and Arkansas some additional changes may take place, as there is a referendum to be hold in November, which results may introduce some more changes. In the referendum scheduled for November, all voters will get the chance to decide whether to approve the as many rules and regulations as two North Jersey casinos. Since the referendum that took place back in 1976, the result allowed for performing gambling in Atlantic City and the resort has held New Jersey’s monopoly on gaming.
According to the data collected in the report, further expansion in New Jersey could possibly threaten Atlantic City casinos and as a result lead to additional casino closures in the area.
“The regulatory landscape casinos have contended with, in some cases for many years, is continuing to evolve,” says Alex Bumazhny, Senior Director. “As iGaming gains steam, daily fantasy sports rules develop and individual states consider expansion, Atlantic City is not the only jurisdiction contending with the swift changes.”
It has already been predicted in June this year, that as many as four more Atlantic City properties could close if casino gambling comes to North Jersey. The prediction was made by Fitch Ratings and seems to still standing strong.
What is even more, back in May this year, Mark Giannantonio, who is the CEO of Resorts Casino Hotel, shared his opinin on the matter and claimed that three to five Atlantic City casinos would close “fairly immediately” upon opening of new casinos upstate.
