Over the past week, plenty of news has been dribbling in about some of the Atlantic City casinos and ventures that affect them.
- Latest update on high stakes poker player Andy Beal's attempts to gain control of the three Trump casinos (link).
- ACES, the direct train from New York City to Atlantic City will have less trains during the winter season because of low ridership (link).
- Atlantic City makes plans for Revel's tax payments (link).
Showing posts with label atlantic city casinos. Show all posts
Showing posts with label atlantic city casinos. Show all posts
Sunday, December 06, 2009
Wednesday, February 27, 2008
Pinnacle May Not Come To AC After All
I found this out pretty early in the day, but I was busy talking about Cecil Fielder becoming to the new Atlantic City Surf manager to put up a post about this. However, it's 4:30 a.m. and sleeping is just overrated.
Pinnable may not be coming to Atlantic City after all. You can't drive anywhere in the area without seeing the silly billboards:
"You know what this town could use?"
Apparently, the answer is another empty lot. Pinnacle has pushed back the date of building the casino to sometime late next year. But .. and there is a but .. but, they could pull out of the deal altogether if the market doesn't improve.
"I've been asked by a number of people, 'How the hell are you going to build in Atlantic City?' The answer is, if the credit markets don't improve, we won't build," Pinnacle Chairman Dan Lee said during a conference call with gaming analysts to The Press of Atlantic City.
Awesome. So you buy a casino, take jobs away and then tear it down. Savvy business move on their part. I can't wait to see what else they have in store.
Pinnable may not be coming to Atlantic City after all. You can't drive anywhere in the area without seeing the silly billboards:
"You know what this town could use?"
Apparently, the answer is another empty lot. Pinnacle has pushed back the date of building the casino to sometime late next year. But .. and there is a but .. but, they could pull out of the deal altogether if the market doesn't improve.
"I've been asked by a number of people, 'How the hell are you going to build in Atlantic City?' The answer is, if the credit markets don't improve, we won't build," Pinnacle Chairman Dan Lee said during a conference call with gaming analysts to The Press of Atlantic City.
Awesome. So you buy a casino, take jobs away and then tear it down. Savvy business move on their part. I can't wait to see what else they have in store.
Monday, January 28, 2008
Monday, December 10, 2007
A.C. Casino Revenues Down Again
Profits are down again for the 11 casinos in Atlantic City.
Casinos reported 374.7 million in casino win in Nov., a 7.7 percent decrease over the same month a year ago, according the The Press of Atlantic City.
Slot revenue decreased by 12.2 percent while table revenue increased by 4.4 percent. For people who don't think the slot parlors in Eastern PA., and Southern N.Y., are taking away from the A.C. casinos, the proof is right there.
Slots are casinos bread and butter. Casinos don't need many people to handle slot machines. Mindless drones put money into a machine and push away at a button. You don't even know how to win, you just need a steady trigger finger.
There are a number of reasons revenue is down, including the smoking ban, but I feel this is the biggest correlation as to why the casinos are losing money.
For the first 11 months of the year, casinos won $4.5 billion, which is down 5.3 percent from last year in the same period.
Casinos reported 374.7 million in casino win in Nov., a 7.7 percent decrease over the same month a year ago, according the The Press of Atlantic City.
Slot revenue decreased by 12.2 percent while table revenue increased by 4.4 percent. For people who don't think the slot parlors in Eastern PA., and Southern N.Y., are taking away from the A.C. casinos, the proof is right there.
Slots are casinos bread and butter. Casinos don't need many people to handle slot machines. Mindless drones put money into a machine and push away at a button. You don't even know how to win, you just need a steady trigger finger.
There are a number of reasons revenue is down, including the smoking ban, but I feel this is the biggest correlation as to why the casinos are losing money.
For the first 11 months of the year, casinos won $4.5 billion, which is down 5.3 percent from last year in the same period.
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