Making the News

Wall Street Journal

Originally Published:Monday, January 24, 2011
http://online.wsj.com/article/ap934352e7b9a34e1e88a70a48aad3f29a.html#articletabs%3darticle

Report: AC casinos to slump as neighbors thrive

By AP
Wall Street Journal

"There are a lot of challenges ahead for Atlantic City," said Shawn McCloud, director of financial analysis for the Linwood, N.J.-based Spectrum. "You'll still have some performers like the Borgata and Harrah's that are well-capitalized that will weather the storm. But as a market, Atlantic City is not going to see the income stream like they did in the good old days, four or five years ago.

"A lot of the reason for that grim forecast is there's no catalyst in sight to turn that around," McCloud said. "There's no new casino opening this year, no one is adding a major hotel expansion. There's no spark for Atlantic City this year."

 

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