Making the News

Houston Chronicle

Originally Published:Monday, February 14, 2011
http://www.chron.com/disp/story.mpl/business/7427520.html

Landry's, Trump wheel and deal in Atlantic City
Renovated casino will be a Golden Nugget

By David Kaplan
Houston Chronicle

The potential for the Golden Nugget in Atlantic City is "enormous," said Michael Pollock, managing director of Spectrum Gaming Group, a gaming research and professional services firm based near Atlantic City.

The Atlantic City Golden Nugget will, however, face challenges, Pollock said. The recession struck a big blow to the casino industry, he noted, and competition from other casinos in the region has hurt the Atlantic City market.

Both of those factors can be overcome, Pollock said, adding that Atlantic City is the only place on the East Cost with a significant concentration of gaming. And the future Golden Nugget is clearly in the best neighborhood in Atlantic City, he said.

The city has the lowest tax rates for gaming on the East Coast and one of the lowest in the country - second only to Nevada, he said.

Fertitta has been an effective gaming operator in Las Vegas, Pollock said. The Golden Nugget brand name still has a great deal of value in the Atlantic City market, Pollock said, among the public and gaming industry workforce.

Operating a casino is similar to running a restaurant, Pollock said. "It's about offering a place that is attractive enough to want to try and go back to."

 

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