What’s News At Atlantic City This Summer?

Given the nature of problems that seem to have beset the U.S economy of late, it is only natural that Atlantic City feels the brunt of these economic downturns to a certain degree. In addition to the economic woes, there is always the specter of stiff competition from states like Pennsylvania, whose casinos often cut into Atlantic city’s customer base. The casino revenue as well as takes from the slot machines have already fallen by 5% and more are to be expected come next year, especially if the situation does not improve, economically, that is.
There are quite a few new buildings making waves on the block but what is in the news is not what is being built, but rather, what is not. On account of the current ‘bearish’ season, the Pinnacle entertainment Inc’s planned Atlantic City casino will now open no sooner than 2012, the delay could extend much beyond that if the current situation does not improve. The revel casino project has run into some trouble with the financing part and is actively seeking some, as they need to open up by 2010. One of the projects that did manage to get off ground with some finesse was none other than the “water club”. The new hotels and spas that have made a debut in the Atlantic City scene are quite keen to stress that city has more to offer than just legalized gambling. But whether they want it or not, the future of Atlantic City as a gambling Mecca, certainly seems to be on the cards for real.
More casino deals are in the works as well. Donald Trump was rumored to be mulling ways to get rid of his struggling Atlantic City casino business. But the only indications to come from the Trump empire, are that in addition to selling one of its lowest performing casinos, Trump is seeking an expansion of the remaining slot joints. Trump with his usual flair and style, announced that they would be selling off the lowest performer, Trump Marina Hotel Casino, to Coastal Marina LLC, a New York gambling company, for $316 million. Trump seems to see profit in these casinos despite losses faced by him on that front. It is only natural for him to see that there may be a bigger picture than the one painted by the cash machines of Atlantic City so far. With change, money may finally start to chime in the casinos of Atlantic City.

Leave a Reply

Your email address will not be published. Required fields are marked *