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Atlantic City casino shutdowns needed, analysts say
Niagra Gazette ^ | 6-29-2014

Posted on 06/29/2014 12:51:21 PM PDT by Citizen Zed

For years, economists and analysts talked in theoretical terms about "casino saturation" in the northeastern United States. But there's nothing theoretical about what's happening in Atlantic City now.

The Atlantic Club is dead, taken down by two rivals. Revel says it will close if a buyer can't be found, and Caesars Entertainment, which says there are too many casinos in New Jersey, plans to shutter one of its four, the Showboat, on Aug. 31.

Mayor Don Guardian, who could see a quarter of his city's casinos close during his first year in office, said Atlantic City is in the midst of a difficult but necessary makeover from being a gambling resort to a multi-faceted destination where betting is only part of the allure.

Since 2006, Atlantic City's casino revenue has plunged from a high of $5.2 billion to $2.86 billion last year. It has been beset by competition from Pennsylvania, which has surpassed it as the nation's No. 2 casino market after Nevada, and suffered further losses with additional casinos coming online in New York and Maryland.

(Excerpt) Read more at niagara-gazette.com ...


TOPICS: Chit/Chat
KEYWORDS: atlanticcity; casinos
Fahgettaboudit.
1 posted on 06/29/2014 12:51:21 PM PDT by Citizen Zed
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To: Citizen Zed

“a difficult but necessary makeover from being a gambling resort to a multi-faceted destination where betting is only part of the allure.”

I’m sure the street-side crack dealers and meth-cooking house will be a big draw....


2 posted on 06/29/2014 12:54:36 PM PDT by tcrlaf (Q)
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To: Citizen Zed

Let’s put casinos in every state, in every county, in every burg. Why not?, the government demands its percentage off the top. It worked well for years with organized crime, why not with government? (Is there really that much of a difference?).


3 posted on 06/29/2014 12:57:56 PM PDT by fhayek
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To: Citizen Zed; All

Related:

Delaware Senate OKs $10M bailout for casinos:
http://www.freerepublic.com/focus/f-news/3172661/posts


4 posted on 06/29/2014 1:05:33 PM PDT by beaversmom
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To: Citizen Zed

The people who work there are rude and unpleasant. When you win they act like you took the money out of their own pocket. When you lose they seem amused.

We love Foxwoods, a great place to go, and no sleeze around at all. We’ve also had a good time at some of the philly casinos, although they are not really great in anyway. But at least people were willing to be jolly and have a good time there.


5 posted on 06/29/2014 1:06:33 PM PDT by jocon307 (These people are (some Polish word) crazy)
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To: tcrlaf
I’m sure the street-side crack dealers and meth-cooking house will be a big draw....

I've been to Atlantic City. A block or two away from one of the casinos was a two-flat that was literally crumbling (and yet had a satellite TV dish attached to one of the few sound pieces of wood on the building).

6 posted on 06/29/2014 1:56:18 PM PDT by ConservingFreedom (A goverrnment strong enough to impose your standards is strong enough to ban them.)
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To: fhayek

“Let’s put casinos in every state, in every county, in every burg. Why not?”

Don’t wish for something that isn’t there.

Our Illinois now has slot machines on practically every corner along with plastic campaign-style signs that reads, “SLOTS! SLOTS!


7 posted on 06/29/2014 2:01:40 PM PDT by stars & stripes forever (Blessed is the nation whose God is the Lord.)
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To: Citizen Zed

Democrats love gambling and casinos—hence their proliferation—but as usual they are ignorant about the laws of supply and demand. Not to mention the way gambling is always a vicious tax on the poor and stupid who form the Democrat base.


8 posted on 06/29/2014 2:10:35 PM PDT by denydenydeny (Admiration of absolute government is proportionate to the contempt one has for others.-Tocqueville)
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To: jocon307
we love Foxwoods

Foxwoods is a complete resort, not just a casino, beautiful facilities, and very well maintained. It's a great place to spend a few days, even for those of us who put next to nothing into the slots.

9 posted on 06/29/2014 2:11:08 PM PDT by grania
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To: Citizen Zed

If the economy is doing so great, shouldn’t there be more casinos opening?


10 posted on 06/29/2014 2:30:40 PM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: Citizen Zed

“...It has been beset by competition from Pennsylvania, which has surpassed it as the nation’s No. 2 casino market after Nevada”

Really?
Pennsylvania?

The only thing I thought came from PA lately were the minority horror stories from drudge...


11 posted on 06/29/2014 2:58:50 PM PDT by mowowie
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To: Citizen Zed

Every casino in the area is teetering on bankruptcy but here in wonderful utopian Massachusetts we are gung ho to build FOUR “destination” casinos here in our shitiest illegal immigrant cities in our tiny state.
Wonderful huh?
Springfield, Everett, Revere....... The new Vegas?
Please......


12 posted on 06/29/2014 3:02:40 PM PDT by mowowie
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To: tcrlaf

Yeah, Atlantic City is always my first choice for a vacation. As Burt Lancaster said in the movie “You should have seen the ocean in the old days!” It’s been a dump for what? 40 years?


13 posted on 06/29/2014 3:10:15 PM PDT by miss marmelstein (Richard Lives Yet!)
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To: tcrlaf
“a difficult but necessary makeover from being a gambling resort to a multi-faceted destination where betting is only part of the allure.”

One of the most surprising things is that if you search for "allure of New Jersey" on Google you get 48,200 results.

14 posted on 06/29/2014 3:18:22 PM PDT by KarlInOhio (The IRS: either criminally irresponsible in backup procedures or criminally responsible of coverup.)
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To: ConservingFreedom

I had to go to Atlantic City back in 1995 for a business meeting. 3 blocks away from the casinos were abandoned buildings. AC casino got hit when the Pequots and the Mohegans opened their casinos in CT.


15 posted on 06/29/2014 3:56:57 PM PDT by ExCTCitizen (I'm ExCTCitizen and I approve this reply. If it does offend Libs, I'm NOT sorry...)
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To: jocon307

Fox woods and Mohegan Sun are great. The Museum at Fox woods is great. Seminole Hard Rock in Tampa is nice, too.


16 posted on 06/29/2014 3:58:54 PM PDT by ExCTCitizen (I'm ExCTCitizen and I approve this reply. If it does offend Libs, I'm NOT sorry...)
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To: ExCTCitizen

Never went to the museum, but on your recommendation I will check it out.


17 posted on 06/29/2014 4:00:19 PM PDT by jocon307 (These people are (some Polish word) crazy)
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To: mowowie

The Mohegans might build a casino for the Nipmacs (kind of funny since they are rivals) in Palmer.


18 posted on 06/29/2014 4:01:23 PM PDT by ExCTCitizen (I'm ExCTCitizen and I approve this reply. If it does offend Libs, I'm NOT sorry...)
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To: denydenydeny

If they don’t keep them poor and stupid, they may lose their votes one day.


19 posted on 06/29/2014 4:04:42 PM PDT by Tammy8
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To: ExCTCitizen

I’d rather spend 2 nights in Palmer than get mugged in Chelsea...


20 posted on 06/29/2014 4:06:01 PM PDT by mowowie
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To: jocon307

The library at the museum is nice too...a nice place to pick up the language of the Pequots.


21 posted on 06/29/2014 4:07:17 PM PDT by ExCTCitizen (I'm ExCTCitizen and I approve this reply. If it does offend Libs, I'm NOT sorry...)
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To: mowowie

I believe the number is 3, not 4.


22 posted on 06/29/2014 4:10:06 PM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: ExCTCitizen

I need to go back there, the last time I was there I had the clam chowder at Cedars. It was the BEST I’d ever had, and I’m wild for the stuff.

It was perfect, a paragon, the UR clam chowder of which all others are an imitation through a glass darkly.

And I was trying to think why I’d never had it before, and I think it was because I was always beguiled by the Lobster Bisque. Lovely, and served with a lovely shot of sherry, yum!

But you know, I was missing out!

Cannot wait to go back - ASAP!


23 posted on 06/29/2014 4:12:43 PM PDT by jocon307 (These people are (some Polish word) crazy)
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To: Citizen Zed
Nothing comes close to Las Vegas. You can spend a week in Las Vegas and sometimes forget that you can gamble too - there is so much else going on. Truly an "adult" Disneyland.

Atlantic City is the other end of the spectrum. I've made several trips there over the past 20 years and it's always a bit depressing. Go just a block from the strip and you are in a poverty-stricken area of urban blight. The famous boardwalk is only nice three months out of the year. The other nine months it's windy, bleak and cold. The casinos themselves are nothing special, poor cousins of their glittering Las Vegas counterparts.

Forget about the one-off casinos sprinkled throughout the country. Tight slots, different rules for Blackjack that favor the house (Blackjack pays 6 to 5 - are you kidding me?). Lousy food. Busloads of old people flocking to the bingo hall or penny slots. Never had a great experience in any of them - even Foxwoods.

Las Vegas is one of a kind and nobody else comes close. Like I said, a true adult Disneyland. (Don't ever bring your kids there though.)

24 posted on 06/29/2014 4:14:40 PM PDT by SamAdams76
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To: jocon307

Best lobster bisque I have ever had:

http://www.whitehorsenewport.com/


25 posted on 06/29/2014 4:17:07 PM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: miss marmelstein

“It’s been a dump for what? 40 years?”

MORE!


26 posted on 06/29/2014 4:23:35 PM PDT by EDINVA
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To: EDINVA

forty years? The casinos have only been around for less than forty years, The reason that the casinos were voted in was that the people were persuaded that Casinos would save Atlantic City from the state of decay that it had fallen into. Decay and fire were the two trademarks. In Atlantic City there were five seasons, the fifth was fire season, when an untold number of decree buildings would burn down and insurance money collected,


27 posted on 06/29/2014 4:30:54 PM PDT by Eva
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To: trisham

Thanks for that tip, if I’m ever in the neighborhood I’ll check it out. I feel sure that is is scrumptious!


28 posted on 06/29/2014 4:47:40 PM PDT by jocon307 (These people are (some Polish word) crazy)
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To: jocon307

You’re quite welcome!


29 posted on 06/29/2014 4:49:39 PM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: Citizen Zed

When even casinos are closing down, you KNOW the economy sucks.


30 posted on 06/29/2014 4:52:21 PM PDT by uncitizen (Buckle up! We're on the Facism Fast Track!)
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To: miss marmelstein

I did see the diving horse, twice!


31 posted on 06/29/2014 5:48:39 PM PDT by this_ol_patriot
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To: Citizen Zed
I grew up down in The AC area. The biggest draw was Steel Pier and that was falling apart. Miss America at the Convention Center was getting to dangerous. I used to go to roller Derby back in the early 1970s and the Amish went wild one night and tore the place up. We had to run to our car! Many,many bums looking for a hand out. Then along came the casinos and folks lined up for blocks to get in and play nickel slots. The casinos had their day. That cash cow has been milked to death. I used to work down there and AC is a dangerous place.
32 posted on 06/29/2014 6:02:04 PM PDT by 4yearlurker (Some people say that experts agree!!)
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To: Citizen Zed

Went to Atlantic City for a trade show in the 80’s... it struck me as low rent at the time. Compared to Vegas in the 90’s, it was Motel 6.


33 posted on 06/29/2014 6:03:49 PM PDT by Tijeras_Slim
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To: Eva

I remember being in Atlantic City before gambling was voted in ... sorry state of affairs. No different today. Gambling might have given them a brief period of relative prosperity but it sure hasn’t lasted.


34 posted on 06/29/2014 7:22:54 PM PDT by EDINVA
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To: EDINVA

Gambling was never good for the residents of Atlantic City, not the Blacks, anyway. The poor Blacks thought that it would bring jobs, and maybe it did, as hotel maids, kitchen workers, cab drivers and other low level employment. What it mostly brought though, was prostitution and drugs. All the gains that the Black community had made were lost when the young people saw what they thought was easy money and high living.


35 posted on 06/29/2014 9:58:58 PM PDT by Eva
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To: Eva

Sadly, falling into the drug culture is not unique to young blacks in Atlantic CIty. It’s interesting that there are some beautiful spots along the Jersey Shore, but AC is not one of them.


36 posted on 06/30/2014 12:09:24 AM PDT by EDINVA
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