In July, Hard Rock and Ocean Resort’s first full month in operation, the casinos respectively employed 4,393 and 3,791 workers. That makes them the second and third largest employers behind only MGM’s Borgata.<\/p>\n
\n
Two months later, and Hard Rock’s workforce has dwindled by 137 positions. Ocean Resort has laid off 315 workers, which represents more than eight percent of its July employment.<\/p>\n<\/div>\n
The reductions, however, are part of the process of opening new casino resorts. “New properties can take anywhere from six months to a year to stabilize in its market segments and will adjust staffing levels accordingly,” Pandit told the Press of Atlantic City<\/i>.<\/p>\n
Borgata is the largest employer, with 5,732 workers remaining on the job last month. The property accounts for 19.8 percent of the overall Atlantic City job market.<\/p>\n
Sports Betting Impact<\/b><\/h2>\n
One asset Atlantic City casinos have this offseason that they did not in 2017 is sports betting. The May repeal of the federal ban by the US Supreme Court allows states such as New Jersey to permit gambling on athletic competitions.<\/p>\n
Atlantic City is home to seven sportsbooks, which could keep things a bit busier during the winter months. Of course, gamblers wishing to place a wager on a game do not have to travel to the beachfront town.<\/strong><\/p>\nWilliam Hill operates a sportsbook at the Monmouth Park horse racetrack in Oceanport, and FanDuel takes sports bets at the Meadowlands just outside New York City. Mobile wagers are also permitted throughout the Garden State, though revenues are taxed slightly higher.<\/p>\n
Beginning in December, wagers made at casinos or racetracks will be taxed at 9.75 percent, while mobile bets will be taxed at 14.25 percent. The higher rates come after Governor Phil Murphy (D) signed legislation to increase the tax by 1.25 percent, with those funds earmarked for the Casino Reinvestment Development Authority.<\/p>\n","protected":false},"excerpt":{"rendered":"
Atlantic City employment numbers continue to drop at the town’s nine casino resorts. That’s expected, as temperatures cool off and fewer visitors make their way to the Jersey Shore. According to September figures released by the New Jersey Division of Gaming Enforcement (DGE), Atlantic City casinos employed 21,806 full-time workers, 2,944 part-timers, and 4,109 “others” […]<\/p>\n","protected":false},"author":25,"featured_media":91561,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\n
Atlantic City Employment Drops as Colder Temperatures Arrive<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n