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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
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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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