Summer 2024 Tourism Outlook ‘Pretty Robust’
From left, LIGHT Faculty Director Jane Bokunewicz, Shorecast moderator Bre Young, Mark Callazzo, managing partner, RMS Capital; Oliver Cooke, associate professor of Economics at 鶹ý; Daniel Gallagher, director of sports sales for the Atlantic City Sports Commission; and Gary Musich, vice president of sales and destination services for Visit Atlantic City.
Atlantic City, N.J. — The general outlook for businesses at the Jersey Shore heading into the summer of 2024 is “pretty robust,” but there are some concerns, especially with no beach concerts in Atlantic City this year and New York casinos looming on the horizon.
That was the overall sentiment from a panel of local experts who spoke at the 16th annual Jersey Shorecast on May 8, sponsored by the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at the 鶹ý School of Business. The discussion was held at the 鶹ý Atlantic City John F. Scarpa Academic Center and streamed online.
LIGHT Faculty Director Jane Bokunewicz opened the discussion, which was moderated by Bre Young ’20, the event coordinator and project manager for Good Time Tricycle Productions. Good Time Tricycle has put together several events in the Atlantic City area, including the Atlantic City Beer and Music Festival.
This year’s panelists had an Atlantic City focus and included:
- Mark Callazzo, managing partner, RMS Capital. Callazzo is the man behind the revitalization of the Orange Loop in Atlantic City and is co-owner of the Tennessee Avenue Beer Hall, Cuzzie’s Pizzeria, Rhythm & Spirits and Bar 32 Chocolate.
- Oliver Cooke, associate professor of Economics at 鶹ý and editor of the South Jersey Economic Review.
- Daniel Gallagher, director of sports sales for the Atlantic City Sports Commission.
- Gary Musich, vice president of sales and destination services for Visit Atlantic City.
“I’m cautiously optimistic for the summer,” Cooke said. “Job growth right now has kind of picked up over the first quarter for Atlantic City proper, relative to where we were in late 2023. Unemployment remains very, very low. My sense is that we’re in a pretty decent place with all the headline metrics.”
Before the discussion, Bokunewicz presented statistics that highlighted some of the successes of 2023, especially at Atlantic City casinos. Total gross gaming revenue ($1.4 billion) was up 11% from 2022, in-person gross gaming revenue ($811 million) was up 1% from 2022 and nongaming net revenue was 45% of the total net revenue compared