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Casinos east coast

Associated Press in Atlantic City. Sunday 29 June For years, economists and analysts talked in theoretical terms about "casino saturation" in the north-eastern United States.

But there's nothing theoretical about what's casinos east coast in Atlantic City now. The Casinos east coast 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 casinos east coast too many casinos in New Jersey, plans to shutter one of its four, the Showboat, on 31 August.

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 read article the allure.

If you build more and more casinos and don't increase the amount of people coming to them, you're sharing that wealth.

We're just going through a very difficult time. It has been beset by competition from Pennsylvania, which has surpassed it as the nation's No2 money bet365 american line football market read article Nevada, and suffered further losses with additional casinos coming online in New York and Maryland.

Israel Posner, executive director of the Lloyd D Levenson Institute of Gaming, Hospitality and Tourism at Stockton College, said the resort has been dealing with casino saturation for a while now. Bob McDevitt, president of Local 54 of the Unite-Here casino workers' union, called Caesars' decision to close a profitable casino "a criminal act".

Since before Revel opened, McDevitt warned that adding casinos east coast casino to the 11 that were operating here at the time could cause one or more to shut down. That has come to pass and then some. Yet some analysts say what is happening in Atlantic City and other parts of the country casinos east coast actually good casinos east coast a market casinos east coast has gotten too big to sustain itself.

Fitch Ratings saw the upside in the shutdown announcement. Caesars will likely recapture most of the Showboat customers at its three other resorts in Atlantic City. Speaking at the East Coast Gaming Congress in Atlantic City in May, several Wall Street analysts said Atlantic City's casino market is in the process of correcting itself, which casinos east coast considered a good thing for its long-term viability. Adam Rosenberg, a managing director with Goldman Sachs, casinos east coast the reduction in capacity that is underway is a positive.

Srihari Rajagopalan, a debt analyst with UBS, agreed. Please choose your username under which you would like all your comments to show up. You can only casinos east coast your username once. This article is 3 years old. Atlantic Click the following article started the year with 12 casinos.

By the end of August, it could be down to nine. Order by newest oldest recommendations. Show 25 25 50 All. Threads collapsed expanded unthreaded. Loading comments… Trouble loading? Signed in as Show comment Hide comment. Your comments are currently being pre-moderated why? Please keep comments respectful and abide by the community guidelines.


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