New Jersey expects to benefit from sports betting legalization

AGA optimistic about Atlantic City's financial future

“What is exciting is that people are spending money in the city and not taking it out of the city,” Geoff Freeman, president of AGA, said.

United States 
| 09/08/2017

Geof Freeman -president of the institution- said the construction of the new Hard Rock Hotel & Casino, the possible joint venture between Cearsars and MGM Resorts and the reopening of the former Revel casino are positive signs of economic recovery.

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“The Atlantic City market is an exciting market right now,” Freeman said this week during an AGA event at Stockton University.

“There is no doubt the market right-sized itself over the last couple of years. While the closing of the facilities was painful for many, it strengthened the community; it strengthened Atlantic City’s potential for the future. Atlantic City and the state of New Jersey learned many painful but important lessons over the last decade. I don’t see anything like what we went through over the last couple of years repeating itself.

That being said, the market being more competitive does create new challenges -some of which are very good,” pointed the report published by The Press of Atlantic City.

In addition to the new projects, Freeman said the city could soon reap the benefits of sports betting, which could produce hundreds of millions of dollars in revenue for casinos in New Jersey.

“No state is better positioned than New Jersey and no location is better positioned than Atlantic City to quickly capitalize on it,” Freeman said.

Yogonet.com/pressofatlanticcity.com

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