
Things are not great right now in Atlantic City. Casinos are shutting, profits are dropping and profits are drying up month after month. It’s really a time when resorts are carefully monitoring every buck that is available in and out of their stability publications. In a nutshell, it’s in regards to the worst time possible for the six-figure sum to go missing from a associated with the city’s casinos.
In accordance with police, two masked thieves walked out of Caesars Atlantic City with additional than $180,000 on Monday after a raid that is smash-and-grab the casino. The robbery reportedly happened on Monday morning, though police did not immediately release much information about the main points of the crime. In accordance with USA Today, trooper Alina Spies stated that police were investigating the matter, but that they don’t want to supply any information that may hinder the investigation that was underway.
Early Morning Robbery
Regional media, citing authorities sources, stated that the robbery included two suspects who entered Caesars Atlantic City around 6 am. At least one of them had a gun and pulled it before stealing two synthetic boxes that contained the stolen cash. They then fled the scene in car at approximately 6:20 am, according to a police bulletin.
The scenario is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery took place inside of the casino. If the crime had taken place in a hotel or other public area, it might be customary for city police to deal with the matter.
While $181,000 may possibly not be much in the grand scheme of things for a casino that is majorCaesars introduced $28.8 million in revenue during June alone), the theft comes at the worst possible time for an Atlantic City venue. The city has been struggling seemingly on all fronts, and that’s mostly driven by struggling casino properties. Revenues at the city’s gambling enterprises have been falling for years, and as many as four casinos could find yourself closing throughout the length of 2013.
August one of those casinos, the Showboat, is operated by Caesars and is scheduled to close at the end of. Others include the Atlantic Club, which shut in January, the Trump Plaza, which is scheduled for closure later this present year, plus the Revel, which can be currently in bankruptcy court and could close if your buyer is not discovered.
Caesars Atlantic City occupies a big, high-rise building that takes up a block between the famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It’s unclear the way the perpetrators exited or entered the building.
Casino Heists Not Unheard Of
While casino security is virtually second-to-none, that doesn’t mean that it’s impossible for criminals to occasionally pull a heist. The schemes, nonetheless, are rarely as complex as something you’d see in Ocean’s 11.
For example, this year, a gunman wearing a motorcycle helmet dashed into the Bellagio on the Las Vegas Strip. He proceeded to take chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, was eventually caught months later and ended up being sentenced to prison.
Atlantic City Casino Struggles Hurting Regional Economy
Atlantic City’s beaches could help attract tourists who’ren’t thinking about gambling. (Image: ACHotelExperts.com)
As Atlantic City watches casinos close left and right, officials admit that the populous city could have to get techniques to diversify as gambling revenues continue steadily to tumble. They also acknowledge that this isn’t going to be a simple transition: the city has gotten utilized to relying on the gaming industry, and which is a hard habit to split. But exactly what might not be immediately obvious is the amount of this shift in priorities could hurt the whole Jersey shore.
Atlantic City’s casinos have long brought tourists to the area, gamblers and others that will then spend time at other venues along the shore. But it’s more than that: according to a 2008 study by Rutgers University, some 100,000 jobs in New Jersey were associated with the gaming industry in one way or another. That accounts for around two percent of the state’s total workforce.
‘When Atlantic City suffers, the area that is entire,’ said David Breeden, administrator for the town of Barnegat.
Several Casinos Closing This Year
Up to four Atlantic City casinos that have been operating in 2013 may be closed by the end of in 2010. The Atlantic Club closed in January, whilst the Showboat as well as the Trump Plaza are both expected to close in the next few months. The Revel may also close this year if a buyer can’t be found.
With casino revenues under pressure from competitors in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in terms of gaming revenues), Atlantic City is now attempting to get other methods to attract visitors outside of slot machines and table games. That doesn’t mean abandoning the casinos completely, but visitors that are rather giving reason to quit by a city that is seemingly in the decline.
That could mean more tourist attractions for families, bringing larger conventions to the city, and making certain amenities is there for folks who are only casual gamblers. But that’s planning to simply take some time to perfect, plus the change is expected to be rough.
‘It’s coming at a time that is bad’ said Stafford Mayor John Spodofora. ‘There are not many big corporations that hire individuals down here. The gambling enterprises have now been a boon for folks down here.’
A Painful Change
Even if Atlantic City does have the ability to rebound, it’s unclear whether it’s going to ever be exactly like it had been in its gaming heyday. New businesses may create jobs, but there is no guarantee that they’re going to function as the same sorts of high-paying opportunities afforded by the casinos.
‘We will endure the pain sensation that comes with transitioning from an economy overly reliant on a single industry,’ said Atlantic City mayor Don Guardian.
Regarding the bright side, the city does nevertheless draw about 27 million site visitors each year, generally there’s certainly a lightning link slot russian cheats lot of disposable income to get around if the city find the way to capture it. There are also plenty of resources that could help Atlantic City make this type of transition: there is still the boardwalk that is world-famous and the beaches are nevertheless a fantastic draw through the summers.
But while attempting to squeeze more out of tourism will certainly help, some professionals believe Atlantic City should search for other possibilities for development too.
‘I’m all for wanting to increase the size of the non-gaming cake, however just hospitality and tourism,’ Deborah M. Figart, teacher of education and economics at the Richard Stockton university of New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, which are not a one- or two-industry town, those cities have a tendency to prosper and prosper even yet in times of recession.’
Nevada Casinos Could Ban Smoking in Near Future
More casino areas are getting smoke-free, and a total ban in Nevada casinos could be not far off. (Image: Mel Evans/AP)
Back many years ago of gambling, the public image of the casino floor was one of smoke-filled tables and a cloudy haze throughout the halls. Throughout the years, that vision has mostly changed: enter any major casino, and there are likely to be large swaths of smoke-free areas for patrons that would prefer a slightly more gambling experience that is breathable. Nevertheless, at the very least in Nevada, there has nevertheless been room for smokers and non-smokers alike.
But in accordance with some analysts, which may be changing soon. Many states with casino gambling have previously outlawed smoking in casinos, and Macau is currently likely to implement a ban later this year. That and other indications have actually led Deutsche Bank video gaming analyst Andrew Zarnett to predict that the smoking cigarettes ban could come to Nevada in the next two years.
Zarnett cited a combination of the move by Macau, which could now be a market trendsetter, as well as the study that is continued of potential risks of second-hand smoking as factors leading him to think that this type of ban could possibly be coming sooner versus later on.
Smoking Ban Could Be Expensive
But he also warned that such a ban could cost Nevada casinos a complete large amount of money. He remarked that other states have observed significant income declines after passing such laws within the past: Delaware’s casino profits fell 11.3 percent after a 2002 ban, while Illinois saw a 20.9 percent drop after their very own 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it were to do exactly the same.
That might mean that such a ban would not be complete, and would still give smokers a place where they might sneak in a couple of good puffs. In Macau, smoking would still be allowed into the high-end areas where VIP gamblers congregate, and there will be smoking that is special with segregated ventilation systems. The latter is the solution now set up in Las Vegas’ international airport, McCarran, where smokers sit inside large lucite-surrounded free-standing ‘rooms’ that are completely closed off from the airport that is main, where cigarette smoking is forbidden.
The Macau ban will go into effect on 6, just after the Golden Week holiday ends october. Any smoking cigarettes areas that are built in gambling enterprises must account for not even half for the gaming that is overall in each venue.
No Immediate Push for a Ban
According to officials in Nevada, there is no push that is immediate ban smoking in casinos anywhere in hawaii, and there is no general public groundswell to do so. But even if it were to occur, it could not be the shock to the device that it sounds enjoy it could possibly be. In 2006, Nevada voters banned smoking in all public places other than casino floors. And some casino areas already are smoke-free, including poker that is many and sports books. The whole planet number of Poker had been played in an environment that is smoke-free 12 months.
And while those projections of major losses may be frightening, not everyone agrees that smoking bans are directly associated to casino profits.
‘Bad weather, fuel prices, market saturation, competition, casino financial obligation, the recession that began in 2008 that severely affected all video gaming revenues, including Vegas, would be the other cards lacking with this deck,’ stated Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the reason behind income declines, rather, it is poor business planning.’
And even if the casinos aren’t about to place a ban into place right away, Steinberg agrees so it will come eventually.
‘Casino smoking bans are everywhere and inevitable,’ she said. ‘Nevada is next and the video gaming industry understands it.’
