Atlantic City and Internet Gambling: If you build it, they will come.
12 September 2013
The oldest casino market on the East Coast is getting some international attention lately, and it’s not just because of its curvy boardwalks and old school good looks.
“No matter what you say about it, Atlantic City is still a $3 billion market,” said Vince Crandon, a managing director of MidOil USA, in a Press of Atlantic City article. MidOil USA is currently representing an investment group that includes London-based gambling conglomerate 2UP Gaming PLC, one of the companies lined up to purchase an Atlantic City boardwalk casino this fall.
While name of the purchased casino is being held until the sale agreement is finalized, the sale does bring to light the budding interest in Atlantic City, particularly since the the legalization of online gambling and the improvement to the national economy. Recent years have seen Atlantic City lose revenue and customers to casinos in adjacent states as well a severe downturn of the real estate market. The introduction of new international life blood and the opportunities that iGaming will produce have awakened new potential in this boardwalk town.
“Our priority is to buy. We want to get into the market now. We don’t want to have to wait two years,” said Crandon, referencing the decision to purchase and remodeling an existing brick-and-mortar instead of building one from scratch. He’s not alone in this sentiment, and his company certainly isn’t the last to take advantage.
03 March 2011Online Gambling in New Jersey Vetoed
“If the Legislature believes that expanding gambling outside of Atlantic City is in the best interests of the State of New Jersey, it should place the question on the ballot for the voters to decide.” That is the message offered by Governor Christie as he vetoed the online gambling bill in New Jersey. Gov. Christie also echoed in his message what others have said he was concerned about as well and that was the State Constitution.Read full article
25 October 2009Can They Raise the Stakes In Atlantic City?
Atlantic City… the name brings to mind images of glistening casinos, bright light and never ending excitement. A few years ago, that image would have been true. Today, however, is another day. Fortunes have changed and the gaming machines stand silent, and one casino, Harrah’s, is offering to send their frequent gamblers out west to Las Vegas. One gambling executive even says that Atlantic City is in a “death spiral”.Read full article
12 November 2012Atlantic City Can Go Mobile, But Will It?
Land-based casinos, in all of their enormous glory, have several things going for them. They nearly burst with electricity and excitement, delicious food and beverages, and gaming choices. Brick-and-mortar casinos are notorious megaplexes, designed to keep you in and keep you playing, no matter how many miles you may log in walking their interiors. The wallets of casino patrons may take a beating, but that’s nothing compared to what their feet are going through.Read full article