Making the News

Press of Atlantic City

Originally Published:Friday, December 31, 2010
http://www.pressofatlanticcity.com/news/top_three/article_53151b2e-1543-11e0-bdaa-001cc4c002e0.html

Eleven projects in 2011 that could revitalize the region

By Elaine Rose
Press of Atlantic City

Nearly everyone with a stake in Atlantic City - from residents to casino employees to government agencies - is hoping that Revel will receive the financing it needs to complete construction and eventually open its doors, said Joe Weinert, senior vice president of Spectrum Gaming Group.

"Atlantic City needs a big win. It's been four years of largely negative headlines for the industry," Weinert said. "For economic and psychological reasons, it needs a big win."

A couple of "boutique" casino hotels would be another victory for the resort and the entire area, said Weinert, mentioning pending casino legislation that would allow the opening of two casino-hotels with a minimum of 200 rooms.

 

Atlantic City has lost a great deal of gamblers to competition from neighboring states, and it has to reach out to new customers to be profitable, said Weinert, adding that the resort would do well to pattern itself after Las Vegas, where 60 percent of the revenue on the Strip is from activities other than gambling.

The resort's nongaming revenue continues to grow, showing that "if you have the right nongaming products, people will drive past their local casinos and come to Atlantic City," Weinert said. "As the casino industry goes, so goes Atlantic County and most of southern New Jersey."

 

 

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