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Posted At : February 11, 2008 01:30 PM | Posted By : Administrator
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Atlantic City
That's the latest year-over-year comparison from the New Jersey Casino Control Commission. The bright spot is that table game revenues didn't suffer anywhere near as badly as slots (-13.9%). The preliminary numbers have been posted.
Congrats to Trump Plaza, which held its own. The Atlantic City Hilton, Caesars, Showboat and Trump Marina were all down over $4 million in gross gaming revenues, which the Tropicana -- still reeling from the wrecking-ball approach of ex-owner Columbia Sussex -- is off by over $7 million. Analyst Andrew Zarnett predicts a bit of a breather for Atlantic City until Las Vegas Sands opens its Bethlehem, Pa., casino next summer ... but since Sands has great difficulty, historically, in opening a property on schedule, the A.C. honeymoon may stretch into the fall or early winter.
On a happier note, the builders of Revel are taking a kindler, gentler approach to laying the foundations for their $2 billion casino resort. If the sound of the pile driver makes you homicidal, Revel Entertainment Group's environmentally friendly approach should be music to your ears. And if you don't think there's a construction crunch, note that some of the equipment had to be hauled in all the way from Kansas. [Insert Wizard of Oz joke here.]
Kudos, too, for the sea-facing design that is planned -- not to mention the elevated highway that will give Revel-ers a view of the Atlantic Ocean as they drive in. Atlantic City hasn't been noted for its architecture in a while. But, with a slew of new projects, it looks like that's about to change.
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