ATLANTIC CITY, N.J. (AP) — Atlantic City started the year with 12 casinos. By Labor Day, it could be down to nine.
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.
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 they considered a good thing for its long-term viability.
Subscribe BrigantineNOW
Casino Gaming isn’t an “industry”; it’s an amenity for our real industry which is tourism! The politicos and most people fail to grasp that simple fact. AC is a world class tourist destination and we have to effectively market the issues as to why people flocked here in the millions over 100 years: THE BEACH & OCEAN! Surfing, Paddle boarding, boating, fishing, parasailing, dolphin crusies…The State needs to return some of the billions it pinches (100%) of the Luxury Tax; Room Tax & Parking Tax and pay for the public safety in the tourism zone and keep the promises that the State and Casino Gaming made when we brought gaming into AC.