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New York casinos could deal Atlantic City 30% revenue blow, panelists predict
Panelists at a major casino industry conference said the construction of three new casinos in New York could cost Atlantic City 20% to 30% of its casino revenue, a development that could possibly return the resort to the days of casino closures.
While not predicting that it will definitely happen, Jim Allen, chairman of the global Hard Rock casino, entertainment and hospitality company, on Thursday said that such a revenue drop could lead at least one Atlantic City casino to close. Hard Rock, which owns a casino in Atlantic City, is among the bidders for a New York casino.
Speaking at the East Coast Gaming Congress, Allen warned that New York’s coming casinos will have a big effect on Atlantic City.
NEW JERSEY CASINO, SPORTS BETTING REVENUE SEES 15% SPIKE IN PAST YEAR
“It could happen,” Allen told The Associated Press in an interview after his speech. “Atlantic City receives 20, 30-plus percent of its revenue from upstate New Jersey and downstate New York, and there’s no doubt it is going to have an impact on this particular market.”
Allen’s Atlantic City casino, along with the market-leading Borgata, and the Ocean Casino Resort are currently the top performing casinos in the market in terms of money won from in-person gamblers.
“So you have three or four that are very strong and then I think there’s a question as to what happens in that next level down,” he said. “I think its a concern that if these other casinos don’t perform, then inevitably from a business standpoint, is there vulnerability? I don’t think that changes unless there’s enhancement to the perception of Atlantic City.”
Allen has been a frequent critic of conditions in Atlantic City, including perceptions of cleanliness and safety for visitors. He acknowledged progress has been made, but said more remains to be done.
Mark Giannantonio, president of Resorts Casino and of the Casino Association of New Jersey, declined comment on Allen’s remarks.
At the same conference on Wednesday, several Wall Street analysts also predicted New York casinos will take a bite out of Atlantic City’s business.
Duane Bouligny, managing director at Wells Fargo said Atlantic City casinos that continue to invest in their businesses and have good leadership will grow.
Panelists at a major casi[…]
Hard Rock and the Ocean Casino Resort Winning Popularity Share of Atlantic City Market
ATLANTIC CITY, N.J. (AP) – Three years ago, when two shuttered Atlantic City casinos came back to life, there was more than a little skepticism over whether it was a good idea to add two casinos to a market that had just lost five of them.
But now there is little doubt that those two casinos – Hard Rock and the Ocean Casino Resort – have succeeded in grabbing their share of a cutthroat market and giving visitors new reasons to come to Atlantic City.
Both casinos had their first full day of operations on the same day: June 28, 2018.
In terms of the amount of money won from in-person gamblers, Hard Rock ranked second out of the nine casinos last year with $224.8 million. Ocean was third at $183.5 million.
Their performance has shaken up the Atlantic City market, forming a new Big 3: Market-leader Borgata and the two newcomers. (When internet and sports betting money is included, Borgata, Golden Nugget and Hard Rock ranked 1-2-3 last year.)
ATLANTIC CITY, N.J. (AP) […]
Hard Rock Hotel & Casino Atlantic City Launches Hard Rock Air
ATLANTIC CITY, N.J., June 4, 2021 /PRNewswire/ — Hard Rock Hotel & Casino Atlantic City announced today the launch of Hard Rock Air. The new 30-seat VIP air charter service will cater to high-end customers traveling to the resort from select markets across the region. The exclusive service, operated by Ultimate Jet Charters, will officially take flight on Friday, July 16.
Hard Rock Air will further elevate Atlantic City as a premier entertainment destination with flights from Farmingdale, White Plains, Norfolk, Richmond, Baltimore, Cincinnati, Scranton and Latrobe. Customers will discover the contagious energy of Hard Rock Atlantic City that boasts a backdrop of the iconic boardwalk, beach and ocean.
“We are confident that Hard Rock Air is going to take our VIP guest experience to new heights and offer a convenient, seamless getaway that is unmatched in the market,” said Joe Lupo, President of Hard Rock Atlantic City.
ATLANTIC CITY, N.J., June[…]
Casino Association of New Jersey Names Terry Glebocki President
Atlantic City, NJ – The Casino Association of New Jersey (CANJ) announced today that its members have selected Terry Glebocki to serve as president of the trade organization. Glebocki is the first female president of CANJ and Chief Executive Officer of Ocean Casino Resort. She succeeds Steve Callender who retired in March.
“I am privileged and honored to succeed Steve Callender as the next president of the Casino Association of New Jersey. Steve successfully led our organization during the COVID-19 pandemic, and we are grateful for the strength and leadership he has shown in these unprecedented times,” said Terry Glebocki, President of the Casino Association of New Jersey. “I am thrilled to lead the CANJ forward as we work to help Atlantic City and the region recover from this devastating pandemic and continue the ongoing revitalization of this world-class destination resort.”
CANJ, AtlantiCare and UNITE HERE Local 54 recently announced that Atlantic City casino workers began receiving COVID-19 vaccinations starting March 29 at the Atlantic County COVID-19 Vaccination Megasite. The three organizations are working together to prioritize vaccinating approximately 25,000 casino employees by Memorial Day.
Atlantic City, NJ – The C[…]
Hard Rock Hotel Gives Bonuses Worth $1M To 2,200 Atlantic City Casino Workers
More than 2,100 casino wo[…]
FanDuel Marks Atlantic City Retail Betting Debut with Bally’s Casino Sportsbook
Sports betting operator F[…]