Deadline Extended for NJEDA’s New Jersey Innovation Fellows Program
Now accepting applications through Monday, June 19, 2023 at 5PM. Please direct any questions to NJInnovationFellows@njeda.com. The Innovation Fellows Program will support would-be entrepreneurs, particularly diverse entrepreneurs, with “income replacement” grants. This resource creates an opportunity for the entrepreneurs to pursue unique startup business ventures with the security of initial income replacement funding in the two-year […]
2023 LIGHT Snapshots
While April 2023 fell just shy of April 2022 for brick-and-mortar gross gaming revenue (down 1.6%), it set a new near-term record for total April GGR for Atlantic City’s casino operators ($420.9 million in April 2023 compared to $386.8 million in April 2022). Read more from Stockton University.
Eric Weiss: “Atlantic City has a great infrastructure and is a great location for esports to thrive”
The new space created in Atlantic City by Casino Esport Conference (CEC) and the Esports Innovation Center (EIC) of New Jersey’s Stockton University will have the insights and input of one of the key people who helped develop and enforce the state’s regulations for online gaming and sports betting. Read more from yogonet.com.
LIGHT Comments on First-Quarter 2023 DGE Report
Comments from Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT), Stockton University School of Business, on the first-quarter 2023 numbers released Monday by the state Division of Gaming Enforcement: Strong gross gaming revenue (GGR) does not always translate into strong net revenue or gross operating profits (GOP). […]
NJ total gambling revenue up 9.5% in April, but in-person casino revenue down 1.6%
New Jersey’s casinos, racetracks that accept sports bets and their online partners won $462.7 million in April, an increase of 9.5% from a year earlier. That figure includes winnings from internet and sports betting operations. But the amount won on-premises by physical casinos fell by 1.6% to $231.4 million. Because revenue from online […]
A.C. Electric continues expanding efforts with diverse suppliers; spent $129M in 2022
Atlantic City Electric said it recently purchased $129 million in goods and services from diversity-certified suppliers in 2022, representing 37% of the company’s total yearly purchases, up $10 million from 2021 and the most spent with diverse suppliers in the company’s more than 100-year history. “We take tremendous pride in growing our commitments with local and […]
EDA approves investment firms to manage funds to support small and early-stage businesses
The New Jersey Economic Development Authority announced it has selected six firms to help manage and deploy capital for three unique investment strategies funded through the federal State Small Business Credit Initiative: the Blended Capital Fund, Life Science/Health Care Fund and Socially & Economically Disadvantaged Individuals Seed Fund. The fund managers will be responsible for raising, or […]
NJ tourism rebounds after pandemic peaks
New Jersey is seeing visitors and spending making its way back to pre-pandemic levels, according to a new report from the New Jersey Division of Travel and Tourism. The 2022 Economic Impact of Tourism study notes the state welcomed about 114.6 million visitors in 2022, 18 million more than in 2021. The study also revealed visitors spent $45.4 […]
Jersey Shorecast Panel Predicts Bright Summer for Shore Businesses
Atlantic City, N.J. — The 2023 summer season looks bright for the Jersey Shore, despite some continuing challenges presented by inflation, gas prices and ongoing labor shortages That’s according to a panel of local experts who spoke at the 15th annual Jersey Shorecast on May 10, sponsored by the Lloyd D. Levenson Institute of Gaming, […]
New Undergraduate Esports Management Degree to Debut in the Fall
Galloway, N.J. — Beginning in the fall of 2023, Stockton University will become the first public institution in New Jersey and one of a handful of schools in the country to offer an undergraduate degree in esports. The Bachelor of Science in Esports Management degree through the university’s School of Business will offer a distinctive […]