..

Atlantic City Casinos to Reopen Once Governor Lifts Evacuation Orders

Written by:
Aaron Goldstein
Published on:
Nov/01/2012
Atlantic City Casinos to Reopen Once Governor Lifts Evacuation Orders

As Atlantic City’s 12 casinos economic losses begin mounting, officials still are unsure just when the establishments will be ready to reopen.

Each reported only minimal damage from Hurricane Sandy and will be prepared to reopen once New Jersey Governor lifts the evacuation order.  It was not immediately clear when that will occur, however.  

Lisa Spengler, spokeswoman for the state Division of Gaming Enforcement, told the Philadelphia Inquirer Wednesday that DGE director David Rebuck was "in ongoing dialogue with the Governor's Office, state and local officials, and the Atlantic City casino executives."

"No decision as to the reopening of the casinos will be made until such time as the governor's mandatory evacuation executive order is lifted and all safety issues surrounding Atlantic City, its residents, and visitors have been addressed," she said.

The casinos have remained closed since Sunday afternoon.  The two main arteries leading to the USA’s second largest gambling destination were reopened on Tuesday.

Advertisement:  Scroll Down For More....

Camasino-071812L.jpg

 

A Christie spokesperson said that reopening of the 12 casinos remained a top priority, however, safety issues must be considered first. 

Originally it was thought that the hotels could begin accepting guests as early as today (Thursday) and that the casinos would be open by Friday. 

Atlantic City’s casinos woes were compounded on Thursday with news that Moody's Investor Service service had issued a report saying casino operators "cannot afford" to have the sites sit idle for an extended period.

KDP Investment Advisors gaming analyst Barbara Cappaert said she would be adjusting fourth-quarter and 2013 estimates as the impact of Hurricane Sandy on Atlantic City emerges.

"Our concern in the near-term is that the economic devastation will have a drag on Atlantic City results by at least 10 percent," Cappaert said. "This will certainly not help gain Caesars the momentum it needs to improve its credit metrics."

Adding to the doom and gloom, Caesar’s announced it had suffered a net loss of $220.6 million in the third quarter of this year. 

- Aaron Goldstein, Gambling911.com

Business/Financial News

U.S. Becomes Largest Bitcoin Mining Centre After China Crackdown

U.S. Becomes Largest Bitcoin Mining Centre After China Crackdown

The United States has overtaken China to account for the largest share of the world's bitcoin mining, data published on Wednesday by Britain's Cambridge Centre for Alternative Finance showed.

Fake New: How an Elaborate Hoax in the Crypto Space Led to Death Threats

Fake News: How an Elaborate Hoax in the Crypto Space Led to Death Threats

We can probably speak on behalf of CoinGeek when we say, near and dear to our hearts was today's panel on Media Influence: How News Reporting Affects the Digital Asset Market.  Like Gambling911.com, CoinGeek we know strives to report fair and balanced news.  But not every story out there in the digital assets space proves to be factual. 

Bitcoin SV as Turing Complete System

Bitcoin SV as Turing Complete System

There is a controversy that's been emerging in the cryptocurrency community that claims Bitcoin cannot be used as a turing complete system.  In computability theory, a system of data-manipulation rules is said to be Turing-complete or computationally universal if it can be used to simulate any Turing machine, meaning the ability to recognize or decide other data-manipulation rule sets.

CoinGeek NYC Live or Virtugal: One Week to Go

CoinGeek NYC Live or Virtual: One Week to Go

There’s only a week left until the CoinGeek Conference in New York City. And as a proud association partner, Bitcoin Association is inviting you to watch the final round of the 4th BSV Hackathon during the conference!

China's Top Regulators Ban Crypto Trading and Mining, Sending Bitcoin Tumbling

China's Top Regulators Ban Crypto Trading and Mining, Sending Bitcoin Tumbling

China's most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks.

Syndicate