Atlantic City

News in Atlantic city

Revel in Atlantic City Loses Money First 3 Months of Operation: Other AC Casinos See Profit

ATLANTIC CITY, N.J. (Associated Press) — Atlantic City's newest casino lost $35 million in its first three months of operation, while the gambling resort's other 11 casinos posted an increase in gross operating profit.

In a report issued Friday by the state Division of Gaming Enforcement, Atlantic City's casinos excluding Revel showed a 12.5 percent increase in profit from the same period in 2011, from $136 million to $153 million.

However, revenues at the 11 casinos fell about 8 percent compared to 2011's second quarter, from $855 million to $785 million.

Submitted by Guest on, Aug/18/2012

Moody’s Investment Service Backs Mohegan Sun Purchase of Resorts Casino Hotel

HARTFORD, Conn. – (Associated Press) - A ratings agency says the deal in which Connecticut-based Mohegan Sun casino operators will manage Resorts Casino Hotel in Atlantic City could boost the Mohegan tribal authority's management venture.

Moody's Investors Service said Wednesday that to the extent the Mohegan Tribal Gaming Authority can improve the performance at Resorts and develop a successful track record in Atlantic City's challenging market, the deal could result in more management contract opportunities.

Submitted by Guest on, Aug/08/2012

Mobile Gambling Comes to Atlantic City

TRENTON — (Associated Press) - Adults who patronize Atlantic City’s casinos will soon be able to gamble at the pool, in their hotel rooms or while waiting in line at the buffet.

Gov. Chris Christie has signed legislation increasing gambling options to include handheld devices.

Mobile gambling will be restricted to the casino property.

Submitted by Guest on, Aug/08/2012

Election Day in New Jersey 2011: The Economy and Sports Betting

Chances are most of the 55 percent of New Jersey registered voters who realize Election Day is tomorrow (November 8) will cast their votes based on economic concerns and which of the 120 state representatives, if any, can actually provide some glimmer of hope to revitalize a stagnant state economy.

Ironically, one of the referendums on the November 8 ballot could actually help boost the state’s ailing economy without the assistance of any elected officials.

It’s legalized sports betting in Atlantic City!

Submitted by C Costigan on, Nov/07/2011

Atlantic City Casinos Urge New Jersey State Voters to Pass Sports Betting Measure

In early November there will be a referendum whereby New Jersey state residents will have the opportunity to vote for legalized online gambling in the state.

Atlantic City casinos are now backing the measure and they are urging voters to help pass such legislation.  More specifically, the Casino Association of New Jersey, which represents the city’s 11 gambling operations, is pushing to have sports betting legalized. 

Submitted by Aaron Goldstein on, Sep/14/2011

Atlantic City Ghost Town as Hurricane Irene Approaches

The US second largest gambling destination, Atlantic City, has been completely evacuated in anticipation for Hurricane Irene.

The storm had weakened to a Category 1 but was expected to bring high damaging winds and a strong storm surge.  A storm of similar strength, Hurricane Belle, completely flooded neighboring Long Beach Island in 1976.  That system tracked a little further out to sea than Irene’s current forecast track, which takes her right along the New Jersey coast.

This weekend is typically among the busiest for Atlantic City.

Submitted by Gilbert Horowitz on, Aug/27/2011

Atlantic City Braces for Hurricane Irene as Models Shift West

Hurricane models began shifting the track of dangerous Hurricane Irene west on Thursday morning as the storm makes a beeline towards the gambling Mecca of Atlantic City.

Irene is forecast to still be a category 2 storm by the time it brushes the East Coast resort city during the early morning hours of Sunday.  While landfall could occur along the North Carolina Outer Banks, current forecast models have the storm running parallel along the East Coast of the United States during what is typically one of the busiest travel periods leading up to the Labor Day weekend.

Submitted by Gilbert Horowitz on, Aug/25/2011

Hard Rock Casino Coming to Atlantic City

The Hard Rock Casino plans to open a small casino in Atlantic City, the US second largest casino destination.

Submitted by Aaron Goldstein on, Jul/22/2011

Atlantic City Paves the Way for Smaller Casinos

Submitted by Guest on, Jun/15/2011

Don Johnson $11 Million Atlantic City Blackjack Wins a “Streak of Good Luck”

The man who took Atlantic City casinos for $11 million in blackjack wins called it “an incredible streak of good luck.

Submitted by Gilbert Horowitz on, May/26/2011

New Jersey Sports Betting Lawsuit Dismissed

A lawsuit filed by State Senator Raymond Lesniak (D-Union) asking for an overturn of a federal ban on sports wagering in New Jersey, has been dismissed.

Submitted by C Costigan on, Mar/09/2011

Assemblyman Hopes to Work With NJ Governor on New Internet Gambling Measure

Following New Jersey Governor Chris Christie’s decision to veto a bill that would make NJ the first state to legalize Internet gambling, state democrats spoke out about the decision.

“The reality is that Internet gaming is coming and we need to figure out a way to make it work to benefit Atlantic City casinos,” said Assemblyman John Burzichelli (D-Salem). “I hope to work cooperatively on new legislation that ensures New Jersey remains competitive for years to come in all aspects of modern gaming.”

Submitted by C Costigan on, Mar/03/2011

Time Ticking in New Jersey as Christie Does not yet Take Action on Internet Gambling Bill

Thursday March 4, 2011 at the stroke of midnight Internet gambling could become legalized in the state of New Jersey.  It would be the first US state to do so. 

Governor Chris Christie has until that time to veto or sign off on a bill that could bring a much needed $28 million – if not more – to his state yearly.  It’s not just the millions of dollars, it’s the many new jobs that will ultimately be created.

Submitted by C Costigan on, Mar/01/2011

Caesars Posts $196.7 Million Loss as Atlantic City Gambling Revenue Falls

By Beth Jinks

(Bloomberg) - Caesars Entertainment Corp., the world’s biggest casino company, reported a fourth-quarter loss after cost cuts and the acquisition of a Las Vegas casino failed to offset declines in Atlantic City, New Jersey.

Submitted by Guest on, Feb/25/2011

Nevada Gambling Revenue Rises, Atlantic City Falls

Submitted by Guest on, Feb/10/2011

New Jersey Loses Out On $87.5 Million

Submitted by C Costigan on, Feb/08/2011

New Jersey Online Gambling Just In Time For Dying Atlantic City

Remember back in the days when Atlantic City used to be a dump?

Well, the casino Mecca is heading back in that direction it seems.

The Newark Star Ledger this week reported that, in just four short years, the nation’s second largest gambling destination has lost nearly 25 percent of its market share.

Submitted by C Costigan on, Jan/11/2011

New Jersey Internet Gambling Bill Passes Through Assembly

Submitted by C Costigan on, Jan/10/2011

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