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Atlantic City Casino Analyst Says Smoking Ban Would Hurt Revenue

by admin June 10, 2022
June 10, 2022 0 comment

An Atlantic Metropolis on line casino smoking ban would have a devasting consequence on gaming income, or so says an analyst at CBRE Fairness Analysis.


An Atlantic Metropolis on line casino visitor smokes a cigarette whereas taking part in a slot machine. Whereas a coalition of anti-smoking supporters is rising, one analyst says {that a} ban on indoor on line casino smoke would negatively influence gaming revenues. (Picture: AP)

John DeCree, a senior analyst at Union Gaming, a subsidiary of CBRE since 2021, tasks {that a} full ban on indoor on line casino smoking at Atlantic Metropolis’s 9 casinos would negatively influence annual gross gaming income (GGR) by as a lot as 20%-25%.

New Jersey lawmakers proceed to mull laws that might finish the smoking loophole afforded to the casinos and below the state’s clear air regulation handed in 2006. At the moment, Atlantic Metropolis casinos can enable smoking on as much as 25% of their gaming ground. However DeCree says these smoking areas are the place upwards of fifty% of the annual GGR is generated.

That is in keeping with our analysis over time that usually reveal smoking sections in casinos generate considerably greater win per days than non-smoking sections,” DeCree wrote.

DeCree provides that since Atlantic Metropolis is primarily a drive-in vacation spot, the East Coast gaming mecca depends closely on Philadelphia and New York gamblers. The Union Gaming analyst causes that outlawing cigarettes would lead to a few of these gamers choosing casinos the place smoking stays permitted in Pennsylvania and Connecticut.

Quarter Income at Stake

A rising coalition of Atlantic Metropolis on line casino staff argues that it’s gone resulting from eliminating indoor smoking on the gaming flooring. The motion has gained bipartisan help in Trenton, the place not less than 43 elected lawmakers have lent their names to Senate Invoice 264/Meeting Invoice 2151. The payments are clones of each other, and every seeks to extinguish on line casino smoking.

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Nonetheless, the On line casino Affiliation of New Jersey says such a ban would harm the business and lead to substantial job layoffs. The commerce group earlier this 12 months commissioned a research on the results of banning cigarettes. That report, carried out by Spectrum Gaming Group, additionally discovered {that a} smoking ban would harm GGR in an identical projection because the one issued this week by DeCree.

DeCree provides that the 20%-25% unfavorable gaming income forecast is conservative.

“Atlantic Metropolis should pull its prospects away from extra conveniently-located gaming choices, and the absence of smoking would go away lots of its greater worth smoking prospects with out purpose to make the journey,” Decree mentioned. “For these smoking prospects who do nonetheless make the journey to Atlantic Metropolis, smoking breaks would doubtless take longer relative to regional casinos, given the scale and scale of Atlantic Metropolis casinos, leading to a higher lack of Time on Gadget (TOD) – a key metric in gaming income.”

Knowledge Proof

Atlantic Metropolis on line casino staff argue {that a} smoking ban wouldn’t harm gaming as a lot because the business and analyst believes. However even when it might, they are saying their well being ought to take priority over GGR and earnings.

DeCree says the financial well being of the 9 casinos can be anticipated to endure within the wake of an entire smoking prohibition. The analyst pinpoints a number of different markets the place on line casino smoking was eradicated and the GGR influence they endured within the first 12 months after the regulatory implementation.

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DeCree cites Harrah’s New Orleans seeing its income plummet 20% after the city-instituted smoking ban went into impact in April of 2015. Equally, Chicagoland casinos in Illinois noticed their GGRs decline 22% after a smoking prohibition was instituted in January of 2008.

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