Skip to comments.Atlantic City casino shutdowns needed, analysts say
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 ...
“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....
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?).
Delaware Senate OKs $10M bailout for casinos:
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.
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).
“Lets 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!
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.
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.
If the economy is doing so great, shouldn’t there be more casinos opening?
“...It has been beset by competition from Pennsylvania, which has surpassed it as the nation’s No. 2 casino market after Nevada”
The only thing I thought came from PA lately were the minority horror stories from drudge...
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.
Springfield, Everett, Revere....... The new Vegas?
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?
One of the most surprising things is that if you search for "allure of New Jersey" on Google you get 48,200 results.
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.
Fox woods and Mohegan Sun are great. The Museum at Fox woods is great. Seminole Hard Rock in Tampa is nice, too.
Never went to the museum, but on your recommendation I will check it out.
The Mohegans might build a casino for the Nipmacs (kind of funny since they are rivals) in Palmer.
If they don’t keep them poor and stupid, they may lose their votes one day.
I’d rather spend 2 nights in Palmer than get mugged in Chelsea...