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Now it looks like Trump Plaza is also closing. There's a good chance that a casino will be built near Woodbury Commons, which would siphon off a lot of northern NJ and NYC business.
NJ needs to realize AC is over, and allow the casino that's being proposed for Jersey City to be built.
AC has a lot of self-inflicted injuries. The persistent high crime (including the vicious public murder of those two Canadian tourists a couple years ago and the numerous robberies/carjackings near casino properties over the years) has really depressed the place's appeal, which is something city officials never truly seemed to appreciate.
The problems with AC at least are not caused by the overall economy. AC is having it's gaming market stolen by new casinos that are much closer to what used to be AC customer base. There is essentially no reason for anyone from metro Philadelphia to drive to AC to gamble. There's now a casino is Delaware that is much closer for people coming from the south. The PA casinos are actually more convenient for people from NYC metro I live in NYC and just did a day trip to Sands Bethlehem to play poker. The CT indian casinos have taken the northern market for a long time now.
NY just legalized gambling. There are already some slot barns (not full/real casinos in and around NYC.) The first bunch were supposed to be upstate. But some of the developers are surfing the fine print in the law, and are trying to get a casino in Orange County, as close to NYC as possible. This is also very close to northern NJ, and will catch a lot of that business
At one time AC had the north east market all to itself. Now, most of the northeast has closer casinos. So why should anyone drive down to AC? That's why it's dying.
Quote:
Originally Posted by luckyram
Wow....just also saw the news that Trump Plaza is closing (allegedly "temporarily").
Seems like the domino effect is starting.
But we still have Wall Street & the talking heads on CNBC, etc. telling us the economy is fine and the market is a good place to invest.
Wow....just also saw the news that Trump Plaza is closing (allegedly "temporarily").
Seems like the domino effect is starting.
But we still have Wall Street & the talking heads on CNBC, etc. telling us the economy is fine and the market is a good place to invest.
Actually read something in the WSJ a week or so ago saying some casinos closing in AC actually would be a good thing. They also predict there will be more closings and that AC needs to readjust their heads around casinos now that gambling is literally sprouting up everywhere. Simply put that market is becoming saturated.
The AC casinos are going to have to come up with something that will make gamblers driver further than they have to, to go to AC. I can't see what it is.
Then again Vegas does this. I go to Vegas, even though I have to fly there, when I can drive 1.5-2.5 hours from NYC to a number of casinos. Then again, the Vegas casinos are nicer than anything around here.
Location: The place where the road & the sky collide
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I voted for the casinos. The legislature later expanded the area where casinos could be built out of greed. They tore down some beautiful old hotels to build casinos. They need to come up with a new game plan. Somebody should look into why Christie put money into another casino instead of using that money to keep Sony in Pitman.
- Create an Express Rail from AC to NYC and AC to DC
- Convert the hotels into high-end condos
- Develop an international entertainment and restaurant culture
- Offer tax incentives to non-gambling related buysinesses
- improve parks and recreation
- Run high-bandwidth data conduits all over the city
Soon after, a flood of young folks working in NYC or DC will settle there.
Place could attract big money and be bigger than Dubai.
Let me just try to clarify what I'm reaching for with the previous post...
AC can be more than the gambling mecca as we see it today. It could be transformed to a paradise by the sea where the next industry could be powered by creativity.
NYC is where the financial powerhouse is at. DC for what it's worth, does crank out the laws that govern.
AC could be where new ideas and technology are born from artists, scientists and engineers if given the right incentives.
I say, get a branch of the Patent Office there.
Of course, each mtropolitan center has it's surrounding slum as people arrive trying to make it and their ideas don't quite take off. Would planning for that help in this Utopian vision?
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