Atlantic City Mayor Plans to Diversify Economy from Casinos

The Mayor of Atlantic City, New Jersey, believes that the local area is ready to attract more than just casino gamblers.

Marty Small Sr. last month spoke about the many benefits of Atlantic City, including the clean environment and a dwindling crime rate as reasons that the area was ready for a rebirth. Small’s belief is that it could interest middle-class buyers, many of whom have been priced out of rising costs in more prominent areas across the city.

All nine of New Jersey’s land-based casinos are located in Atlantic City.

Atlantic City pushes beyond casinos

Atlantic City has not been known as a town devoid of problems. High crime rates, lofty taxes, and outdated infrastructure have made property as much as five times less valuable than similarly sized units in nearby locations.

Additionally, the local economy’s heavy focus on gambling is different from most other cities, especially in New Jersey. 

But despite that, Small is hopeful that investment is about to take off.

The mayor announced last Wednesday that Atlantic City received approval for a fifth federal Opportunity Zone. These Zones provide tax incentives to private investors in local businesses and real estate through Qualified Opportunity Funds.

In other words, the new Zone will make investment more rewarding for individuals who want to help rejuvenate Atlantic City’s economy outside of casinos.

The new Opportunity Zone spans the entire Marina District, which includes the Borgata, Harrah’s and Golden Nugget casinos. It also includes a 35-acre property owned by  MGM Resorts that has plans to become a mixed-use residential community.

A real estate developer also proposed building a 182-unit waterfront building adjacent to Golden Nugget.

Building up real estate

The other four Zones are along the beachfront from Maine Ave. to Annapolis Ave. The creation of those four coincided with increases in investor interest and project planning. 

Should that trend continue, the fifth Opportunity Zone will become another major opportunity for investors and for Atlantic City to further develop its economy.

“Adding another Opportunity Zone, especially one that includes the entire Marina District, is a big deal for us,” said Small. “Atlantic City is seeing a real development renaissance happening right now as investor confidence is at an all-time high.”

Local retail casinos took slight steps backward during September after surging in August. 

According to a report released by the New Jersey Division of Gaming Enforcement, the casinos generated $228 million in gross gaming revenue — 1.3% less than the $230.7 million they generated in Sept. 2025. That includes revenue from slot machines, live-dealer table games, and all gambling attractions.

Four casinos saw year-over-year declines in revenue, headlined by Borgata’s 11.3% decline. Four saw substantial gains, including Harrah’s Atlantic City’s 12.7% increase. Golden Nugget effectively did not change, improving its total by 0.3% YoY.