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Parking Power

Parking Power

In order to direct more revenue towards the redevelopment of Atlantic City, the New Jersey Casino Reinvestment Development Authority established a $3 parking fee per vehicle at the city’s casino parking garages. The fund was a successful revenue generator for a fund dedicated to redevelopment until four casinos closed in 2014. But things have been looking up since then. Over the past 12 months, with seven operating casinos, the parking fee revenue was up in double digits after several years of decline due to the closings. And with two casinos set to open in 2018, the fund should be very healthy.

To download a copy of the Atlantic City Tourism Performance Indicators by the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at New Jersey’s Stockton University, visit stockton.edu/light/documents/actpi20173rdquarterfinal.pdf.

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