“Gaming Experts Emphasize the Importance of Investments in Atlantic City amid New York Casino Arrival”

In a panel held in New Jersey City, gaming industry experts considered that Investments in Atlantic City are a “must have” given the imminent arrival of New York casinos. The executives believe that intensifying gambling in the city could be the most effective way to address fears of lost profits to new gambling venues in the Big Apple, as New York is studying the possibility of granting up to three casino licenses in the center of the city.

The panel of executives organized by the Atlantic City Chamber of Commerce on the Stockton University campus suggested that investments could be an effective way to fend off competition. Concern persists that, with Atlantic City casino revenues flat, costs rising due to inflationthe NY spin-off game could further cut into its profits.

“We have always been a destination city,” he declared. Michael Monty, director general de Bally’s Atlantic CityAs reported The Press of Atlantic City. “I don’t think that will change with the construction of the New York casinos.. I don’t think that will change with the construction of casinos in Pennsylvania and in the other states that have become legal in the last few decades,” he said.

The panelists stated that building three new casinos in New York could cost New Jersey 20-30% of its casino revenue, a fact that could return the destination to the days of casino closures. He President of Hard RockJim Allen, said he anticipated that this change could cause the closure of at least one casino in the city. Other analysts also said a casino closure could be a possibility.

“Atlantic City receives between 20% and 30% of its income from upstate New Jersey and downstate New Yorkand there’s no doubt that it’s going to have an impact in this particular market,” Allen told The Associated Press. Hard Rock owns one of Atlantic City’s nine casinos and is among the New York bidders.

Jim Allen, presidente de Hard Rock

However, Gregg Klein, Senior Vice President and General Manager of Harrah’s Resort Atlantic City, suggested that the fact that both states share players could create a circulation of players on the East Coast. Harrah’s parent company, Caesars Entertainmentsubmitted a bid to build a new casino in Times Square, New York.

“The benefit to me is that we’re finding and discovering new players and hopefully bringing them here to Atlantic City.Klein said, according to The Press of Atlantic City. More players would be good news for the city’s gaming sector, which has yet to fully recover from the Covid-19 pandemic, according to panelists.

Atlantic City casino executives believe that several aspects of the city should be improved. Among them are bus transportation to and from the tourist complexes, investments to improve the image of the city, the modernization of the Boardwalk and the improvement of transportationincluding more flights to Atlantic City International Airport.

“We need investment,” he said. Mark Giannantonio, president and CEO of Resorts Casino Hotel. “The community itself will benefit, and the city will flourish for decades.”