As Memorial Day weekend now remains firmly in the rearview mirror, the summer season has officially arrived in the United States. Across the country, millions of Americans are likely looking forward to a plethora of summer excursions, including scuba diving, snorkeling, surfing, and beachgoing. In the state of New Jersey, in the southern region of the Garden State, the iconic Jersey Shore is now approaching its bustling season and people from all over the world are journeying the various beaches and towns of the state’s coastline for summer festivities. While inflation continues to crush working Americans, some local economists have projected this to be a net-benefit to the local economy as people are staying closer to home for the season to save costs. One city, though has been long struggling. Atlantic City, New Jersey, once a major destination known for its vibrant casinos continues to decline. In a recent article reported by the Washington Times the profits of the cities remaining beleaguered casinos have declined by 10% in the first quarter of 2024. An academic expert from Stockton University of South Jersey cited inflation, shifting business models and rising costs of business as potential reasons for the decline.
Gambling is still increasingly popular in the United States, and online sports betting, which is becoming widespread though the internet, may be impacting Atlantic City. In 2023, sports gambling companies based online reported record revenue levels in the calendar year. Americans spent close to 120 billion on sports betting in 2023, a sign that the strong industry is only growing.
With commercials seemingly appearing more common with each passing day promoting gambling, a growing crisis is affecting America’s youth. Many people have claimed that the growing popularity and easy access to online betting is a serious crisis, and some have even called it part of a serious destruction of the youth of the nation. Only time will tell what becomes of things.
