Industry insiders see the push to diversify attractions in the city as the key to fueling more demand for the added room supply. The increased inventory led to a 9 percent dip in Atlantic City’s revenue per available room, down to $51.96, in the first five months of 2018 versus the year-ago period, according to STR, a data and analytics specialist. In 2017, occupancy and revenue per room was nearly equivalent to 2016 the number of rooms grew by 324 in the same period. In 2016, revenue per available room (RevPAR) grew 19 percent and occupancy grew 45.7 percent year-over-year as the casino closures resulted in a drop in supply. With the state’s help, the city reached an $80 million tax settlement - related to tax appeals - with casinos the move helped Atlantic City avoid bankruptcy and positioned it for a rebirth. ![]() The result of that spate of closings was financial trouble so dire that in 2016, state officials took over fiscal control of the city. The two launches mark a reversal of the 2014 wave of casino closures. ![]() The Ocean Resort Casino, formerly the Revel, also opened last month.
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