Business Report: Big bounce for casinos, making job connections, home sales, J&J baby powder

Gambling revenue is up and casinos are bouncing back

It looks like Atlantic City casinos are bouncing back this summer as tourists flock to them now that pandemic restrictions have been lifted. The latest numbers from the state show that the casinos set a monthly record for gross gambling revenue in June, at more than $345 million and revenue for internet gambling was up more than 26% in June from the same time in 2020.

A program to help teachers better prepare their students for the workforce is underway in South Jersey. The Summer Institute for Educators enables teachers to meet with business leaders who say they often can’t find job candidates who have the skills they need. Christina Renna, president and CEO of the Chamber of Commerce Southern New Jersey, says educators make connections with companies big and small. The program is now in its 29th year.

This week, several key reports on the housing market will be released, amid some signs that home sales are cooling. Existing home sales across the U.S. have been declining on a monthly basis since spring. There are pockets where sales remain strong, and New Jersey has been one of those areas, especially in the luxury market. But according to NorthJersey.com, home prices may not appreciate as much going forward.

With numerous lawsuits alleging that its baby powder can be linked to cancer, New Brunswick-based Johnson & Johnson reportedly is mulling over turning its baby powder business into a separate company that would then seek bankruptcy protection. According to Reuters, J&J says it has not decided on a particular course of action.

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