Atlantic City
News in Atlantic city
Revel in Atlantic City Loses Money First 3 Months of Operation: Other AC Casinos See Profit
ATLANTIC CITY, N.J. (Associated Press) — Atlantic City's newest casino lost $35 million in its first three months of operation, while the gambling resort's other 11 casinos posted an increase in gross operating profit.
In a report issued Friday by the state Division of Gaming Enforcement, Atlantic City's casinos excluding Revel showed a 12.5 percent increase in profit from the same period in 2011, from $136 million to $153 million.
However, revenues at the 11 casinos fell about 8 percent compared to 2011's second quarter, from $855 million to $785 million.
Moody’s Investment Service Backs Mohegan Sun Purchase of Resorts Casino Hotel
HARTFORD, Conn. – (Associated Press) - A ratings agency says the deal in which Connecticut-based Mohegan Sun casino operators will manage Resorts Casino Hotel in Atlantic City could boost the Mohegan tribal authority's management venture.
Moody's Investors Service said Wednesday that to the extent the Mohegan Tribal Gaming Authority can improve the performance at Resorts and develop a successful track record in Atlantic City's challenging market, the deal could result in more management contract opportunities.
Mobile Gambling Comes to Atlantic City
TRENTON — (Associated Press) - Adults who patronize Atlantic City’s casinos will soon be able to gamble at the pool, in their hotel rooms or while waiting in line at the buffet.
Gov. Chris Christie has signed legislation increasing gambling options to include handheld devices.
Mobile gambling will be restricted to the casino property.
Election Day in New Jersey 2011: The Economy and Sports Betting
Chances are most of the 55 percent of New Jersey registered voters who realize Election Day is tomorrow (November 8) will cast their votes based on economic concerns and which of the 120 state representatives, if any, can actually provide some glimmer of hope to revitalize a stagnant state economy.
Ironically, one of the referendums on the November 8 ballot could actually help boost the state’s ailing economy without the assistance of any elected officials.
It’s legalized sports betting in Atlantic City!
Atlantic City Casinos Urge New Jersey State Voters to Pass Sports Betting Measure
In early November there will be a referendum whereby New Jersey state residents will have the opportunity to vote for legalized online gambling in the state.
Atlantic City casinos are now backing the measure and they are urging voters to help pass such legislation. More specifically, the Casino Association of New Jersey, which represents the city’s 11 gambling operations, is pushing to have sports betting legalized.
Atlantic City Ghost Town as Hurricane Irene Approaches
The US second largest gambling destination, Atlantic City, has been completely evacuated in anticipation for Hurricane Irene.
The storm had weakened to a Category 1 but was expected to bring high damaging winds and a strong storm surge. A storm of similar strength, Hurricane Belle, completely flooded neighboring Long Beach Island in 1976. That system tracked a little further out to sea than Irene’s current forecast track, which takes her right along the New Jersey coast.
This weekend is typically among the busiest for Atlantic City.
Atlantic City Braces for Hurricane Irene as Models Shift West
Hurricane models began shifting the track of dangerous Hurricane Irene west on Thursday morning as the storm makes a beeline towards the gambling Mecca of Atlantic City.
Irene is forecast to still be a category 2 storm by the time it brushes the East Coast resort city during the early morning hours of Sunday. While landfall could occur along the North Carolina Outer Banks, current forecast models have the storm running parallel along the East Coast of the United States during what is typically one of the busiest travel periods leading up to the Labor Day weekend.
Hard Rock Casino Coming to Atlantic City
The Hard Rock Casino plans to open a small casino in Atlantic City, the US second largest casino destination.
Don Johnson $11 Million Atlantic City Blackjack Wins a “Streak of Good Luck”
The man who took Atlantic City casinos for $11 million in blackjack wins called it “an incredible streak of good luck.
New Jersey Sports Betting Lawsuit Dismissed
A lawsuit filed by State Senator Raymond Lesniak (D-Union) asking for an overturn of a federal ban on sports wagering in New Jersey, has been dismissed.
Definition of “Absolute Veto” Makes Passing Internet Gambling Bill in NJ Nearly Impossible
Dead on Arrival: New Jersey Internet Gambling Bill Will Require Override
New Jersey Governor Chris Christie Veto of Internet Gambling in State is “Conditional”: Still in Play
Assemblyman Hopes to Work With NJ Governor on New Internet Gambling Measure
Following New Jersey Governor Chris Christie’s decision to veto a bill that would make NJ the first state to legalize Internet gambling, state democrats spoke out about the decision.
“The reality is that Internet gaming is coming and we need to figure out a way to make it work to benefit Atlantic City casinos,” said Assemblyman John Burzichelli (D-Salem). “I hope to work cooperatively on new legislation that ensures New Jersey remains competitive for years to come in all aspects of modern gaming.”
Chris Christie Still Undecided on Internet Gambling in State: Has Until Midnight
New Jersey Governor Chris Christie Press Conference on Internet Gambling (Live)
Press of Atlantic City Confirms NJ Governor Chris Christie to Take Action on Internet Gambling Bill
Time Ticking in New Jersey as Christie Does not yet Take Action on Internet Gambling Bill
Thursday March 4, 2011 at the stroke of midnight Internet gambling could become legalized in the state of New Jersey. It would be the first US state to do so.
Governor Chris Christie has until that time to veto or sign off on a bill that could bring a much needed $28 million – if not more – to his state yearly. It’s not just the millions of dollars, it’s the many new jobs that will ultimately be created.
Caesars Posts $196.7 Million Loss as Atlantic City Gambling Revenue Falls
By Beth Jinks
(Bloomberg) - Caesars Entertainment Corp., the world’s biggest casino company, reported a fourth-quarter loss after cost cuts and the acquisition of a Las Vegas casino failed to offset declines in Atlantic City, New Jersey.
Fox News to NJ Governor Chris Christie: Legalize Internet Gambling
What’s Stopping New Jersey Governor Chris Christie From Signing Internet Gambling Bill?
New Jersey Governor Vetoes 14 Bills: Internet Gambling Spared?
Internet Gambling in New Jersey Could Become Legal by Next Week
New Jersey Governor Chris Christie Signs Atlantic City Tourism Bill Into Law
New Jersey Online Gambling Just In Time For Dying Atlantic City
Remember back in the days when Atlantic City used to be a dump?
Well, the casino Mecca is heading back in that direction it seems.
The Newark Star Ledger this week reported that, in just four short years, the nation’s second largest gambling destination has lost nearly 25 percent of its market share.
