Lessons from the Atlantic City Casino Experience

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Abstract
This article reviews the operating statistics of the Atlantic City casino hotel industry from its inception in 1978 through 1994. The objectives of the Casino Control Act are compared with industry results, and economic and social impacts are examined. In less than two decades, $5 billion in investment has been attracted to the city. This investment has created, through the construction of 12 casino hotels and the renovation of the historic boardwalk along the ocean, a regional casino resort destination that cannot be easily duplicated. The revenues generated by the casino hotel industry have funded regulatory agencies, social services for the elderly and disabled, and redevelopment projects in Atlantic City. This article chronicles the revitalization of the economy of the city, as well as the disappointments that have occurred, such as the slow pace of urban redevelopment, visitation patterns that primarily reflect short day-trips, casino gambling's dominance of the economic activity of the city, and the prevalence of compulsive gambling.