With casinos spending almost four months on shutdown in 2020, many have lost over 80% of their profits, while the Ocean Casino Resort notched up a small profit. Casinos in AC Post Worst Year in History Following a strong January, Atlantic City saw a steady downturn in profit with the numbers for 2020 crashing by […]
A casino in Atlantic City is set to be demolished next month and city officials hope to turn the demolition event into a fundraiser, expecting to raise in excess of $1 million. That casino is Trump Plaza and the bidding winner will be able to push the button and blow it up. “I wanted to […]
Harrah’s Atlantic City will reopen its poker room for visitors on December 26. Although the pandemic is yet to pass, the operator has implemented strict health and safety protocols ensuring the well-being of guests and employees. The Poker Room at Harrah’s in Atlantic City Reopens on December 26 More live casino entertainment will become available […]
New Jersey has legalized the recreational use of marijuana, but that’s unlikely to significantly impact the local gambling industry. New Jersey Legalizes Cannabis On November 3, the US State of New Jersey approved a Legislature bill that legalizes cannabis use. Currently, cannabis is legal only for medical use but recreational use will also be legalized […]
Moody’s has put on hold the issuer’s rating of Atlantic City due to the unstable economic situation, increased governance and social risk, as well as income inequality. Despite the ongoing challenges, its outlook has been improved due to the city’s casino property taxes programme, the growth in online gambling and the city’s continued efforts for […]
Casinos across Atlantic City saw their revenues decrease by more than 37% between July and September 2020 compared to the same period last year due to the continuing restrictions to curb the spread of the virus. The Industry is Recovering Slowly Casinos in Atlantic City posted net revenue of $629.3 million or a 32.3% decrease […]
At a briefing with state officials on Wednesday this week, Governor Phil Murphy revealed that the casino operators have managed their casino floors responsibly. Furthermore, the Governor noted that there is no evidence relating the recent outbreaks of positive COVID-19 patients and casinos in the state. Casino Operators Responsibly Manage Their Casino Floors During a […]
Atlantic City’s top casino, The Borgata, sent a letter to some of its members of staff Friday afternoon, to inform them that they are either laid off or would face a reduction in working hours. The cuts are undertaken by the casino in response to the latest restrictions on indoor dining imposed by Gov. Phil […]
Gaming operators in Atlantic City reported 251 positive Covid-19 cases since the reopening of the city’s nine casinos in early July. With a strong increase in infection rates in October, restaurant and bar employees were the most affected. Safety Measures Seem To Be Working Atlantic City casino operators reported 251 new positive cases of Covid-19 […]
Rhode Island-based casino operator Twin River Holdings, Inc. has committed to investing $90 million to upgrade Bally’s, Atlantic City’s worst-performing casino. Twin River Buys Iconic Bally’s Brand Bally’s Atlantic City was sold to Twin River last April at a discounted rate of $25 million. The opportunity arose as Caesars Entertainment and Eldorado Resorts were reducing […]
