..

Hurricane Sandy Could Prove Devastating to Gambling Mecca of Atlantic City

Written by:
Gilbert Horowitz
Published on:
Oct/27/2012
Hurricane Sandy Could Prove Devastating to Gambling Mecca of Atlantic City

What is being billed as potentially the storm of the century had the United States second largest gambling destination of Atlantic City right in its path.

Hurricane Sandy had been briefly downgraded to a tropical storm before becoming a hurricane once again early Saturday afternoon.  Current models have the storm making a direct impact on Atlantic City.

On Saturday morning, New Jersey Governor Chris Christie declared a state of emergency as the storm moved up the East Coast.

"We have to be prepared for the worst," said Christie at a televised press conference shortly before noon.

“We believe several regional casino markets could be at risk, including Atlantic City casinos, Connecticut tribal casinos, New York VLT industry, Eastern Pennsylvania casinos, and Maryland casinos,” Wells Fargo Securities gaming analyst Cameron McKnight told investors.

Camasino-071812L.jpg

 

The state's barrier islands from Sandy Hook south to Cape May must be cleared out by Sunday afternoon. Those at Atlantic City casinos also must leave by then.

The biggest threat scenario involves the hurricane colliding with a cold front from the West, creating a "superstorm" that could stall over the Eastern seaboard for days. Residents have been asked to prepare for the possibility of a week or more without power.

Jeff Masters, meteorology director of the forecasting service Weather Underground, said Sandy could potentially top the worst East Coast storm on record, a 1938 New England hurricane that is sometimes known as the Long Island Express, which killed nearly 800 people

Damages could reach $3.2 billion when all is said and done. 

- Gilbert Horowitz, Gambling911.com

Gambling News

What Are The Different Types Of Sport Bets?

What Are The Different Types Of Sport Bets?

There is no little or no hesitation that betting on sports is one of the greatest and most common types of gambling in the world, but there are several means different people who are sports bet lovers can choose to bet on different types of games.  

UFC and DraftKings Reach Groundbreaking Deal

UFC and DraftKings Reach Groundbreaking Deal

DraftKings (Nasdaq: DKNG) and UFC®, the world’s premier mixed martial arts organization, today announced a groundbreaking agreement that marks one of the most significant partnerships in UFC history.

Bally’s Corporation Becomes An Authorized Sports Betting Operator Of The NBA

Bally’s Corporation Becomes An Authorized Sports Betting Operator Of The NBA

Bally’s Corporation (NYSE: BALY), a leading U.S. provider of land-based gaming and interactive entertainment, today announced the formation of a multiyear strategic partnership designating Bally’s as an Authorized Sports Betting Operator of the National Basketball Association (NBA). This deal represents Bally’s second sports betting partnership with a professional sports league, following its previously announced official sports betting partnership with the National Hockey League.

Sports Betting Debate Heats Up in Maryland Legislature

Sports Betting Debate Heats Up in Maryland Legislature

Maryland legislators have begun to discuss regulation of the state’s newly approved legalized sports betting market, which includes mobile wagering.  

Arizona House OKs Gambling Bill Amid Transparency Questions

Arizona House OKs Gambling Bill Amid Transparency Questions

Some Democrats in the Arizona House on Thursday raised transparency and fairness questions about a major expansion of gambling Republican Gov. Doug Ducey needs as part of his thus-far secret deal with Native American tribes to update their gambling compact.

Syndicate