{"id":868679,"date":"2024-11-19T10:30:41","date_gmt":"2024-11-19T18:30:41","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/shop\/?p=868679"},"modified":"2024-11-19T10:30:56","modified_gmt":"2024-11-19T18:30:56","slug":"bad-news-for-atlantic-city","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/bad-news-for-atlantic-city\/","title":{"rendered":"Bad news for Atlantic City"},"content":{"rendered":"\n

Congratulations, Atlantic City<\/strong>. Your relevance is being questioned again. Not only did casino revenues drop 8.5% last month (though they were still 3% better than prior to Covid-19<\/strong> disruption), brick-and-mortar gambling yielded less than Internet betting did. Cyber casinos made $213.5 million, compared to $209 million for terrestrial ones. The blame game is undoubtedly very complex and resistant to easy reduction. But dare we suggest that ONE factor making iGaming more appealing is that you don’t have to breathe goddamn secondhand smoke\u2014unless you want to puff away in the privacy of your home? And fewer and fewer punters are inclined to light up. Just a thought.<\/p>\n\n\n\n\n\n\n\n

Calamity unknown struck Golden Nugget<\/strong>, which plummeted 20.5% to $9.5 million in October, tautening its death grip on last place. Based on what we read about the Nugget, we’re not exactly surprised. Meanwhile, new brooms continue to sweep out customers at Bally’s Atlantic City<\/strong>, down 8% to $11.5 million. Resorts Atlantic City<\/strong> rounded out the grind joints with $12 million, a 9% drop-off. Despite a 6% decline, Borgata<\/strong> remained easily in first place, garnering $53.5 million. Hard Rock Atlantic City<\/strong> ceded only one point and posted $41 million in winnings, while Ocean Casino Resort<\/strong> plunged 24% to $33 million. Why does the Ocean brain trust continue to get a free pass while former boss Terry<\/strong> Glebocki<\/strong> was exiled to an obscure racino in Delaware<\/strong>? Sexism much? The minds running the Boardwalk’s casinos are hardly the cream of the industry nowadays, save for the enlightened folk over at Hard Rock. Anyway, Caesars Atlantic City <\/strong>is veering dangerously close to the grind-joint tier, grossing only $15 million\u2014and that was a 4% improvement<\/em> over last year. Harrah’s Resort<\/strong> stumbled 11.5% to $16 million and Tropicana Atlantic City<\/strong> fared best for Caesars<\/strong> Entertainment<\/strong>, raking in $17.5 million, a 7.5% gain.<\/p>\n\n\n\n

iGaming surged 28%, led by DraftKings<\/strong>‘ $56 million. FanDuel <\/strong>($49.5 million) bested legacy operator BetMGM<\/strong> ($43.5 million), with Caesars Palace<\/strong> along for the ride with $19 million. Sports bettors cooled on the market in October, with $1.1 billion in handle a 12.5% stumble and revenue down 16% to $77.5 million, all despite low, 7% hold. Despite a heavy revenue swing toward DraftKings, the latter (and its $22 million) couldn’t close the gap with FanDuel, which grossed $35 million. BetMGM’s $8 million was easily the best of the rest, trailed by Caesars Sportsbook<\/strong> ($3.5 million), Fanatics<\/strong> ($1.5 million) and ESPN Bet<\/strong> ($1.5 million), while BetRivers<\/strong> sank below the Mendoza Line.<\/p>\n\n\n

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It’s long past time<\/strong> to catch up with sundry bits of flotsam and jetsam that have washed ashore from Atlantic City<\/strong>, starting with Bart Blatstein<\/strong>‘s contention that he wouldn’t put real\/reel slots back into the Showboat<\/strong> even if and when he could. The place is still laboring under a 10-year deed restriction imposed by ex-owner Caesars Entertainment<\/strong>, which has plenty of its own problems on the Boardwalk. Like, why does Caesars need three casinos in the market? Problems a robbery and stabbing that took place at The Quarter<\/strong> at Tropicana Atlantic City<\/strong>. The two assailants were released on summonses, pending future court hearings. As if they’re going to show up!<\/p>\n\n\n\n

Before we leave the A.C. Trop (above<\/em>), a few words about its marketing plan. As of mid-October it was predicated upon busing people in from Connecticut<\/strong>, New York<\/strong> and even Massachusetts<\/strong>. The package deal comprised two room nights and a pair of tribute shows, one devoted to the music of Elton John<\/strong>, the other to Cher<\/strong>. And yes, $50 in free play and $50 meal credit that probably won’t get you very far. Queried our Atlantic City correspondent, “Doesn’t this sound like most Atlantic City casino’s marketing plans\u00a0about 40 years ago?<\/em>” Indeed it does.<\/p>\n\n\n

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Speaking of entertainment, Bally’s Atlantic City <\/strong>got bested by rural rival Bally’s Dover<\/strong>. The latter was offering a LeAnn<\/strong> Rimes<\/strong> concert to prospective customers. \u00a0“The only entertainment at Bally’s A.C. is watching seagulls on the Boardwalk<\/em>,” acidly notes our man. Does the left hand at Bally’s Corp<\/strong>. ever know what the right hand is doing?<\/p>\n\n\n\n

Probably not, when the ‘Luau Party’ in Atlantic CIty features a Jamaican steel drummer for musical entertainment. We’re only surprised they weren’t handing out free ganja. We hope you don’t need a meal while you’re at Bally’s. Park<\/strong> Place Prime<\/strong>, Macau<\/strong> and Longo’s<\/strong> are all closed Mondays and Tuesdays, whilst the Player’s Club Lounge<\/strong> is dark until Thursday. If you stomach growls, you may have to check out the competition.<\/p>\n\n\n\n

It won’t help that ex-general manager Michael Monty<\/strong> has been banished to Rhode Island<\/strong>, the low-rolling Siberia<\/strong> of the Bally’s empire. “Two non-exec employees said it was not a promotion. I can’t understand, as he always did such a good job<\/em>,” writes our scribe. Monty has been replaced with a second-generation casino executive, so we’ll see if he can improve on his predecessor’s work.<\/p>\n\n\n

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What Bally’s doesn’t have is a security checkpoint in Atlantic City anymore. Gotta save money somewhere, we guess, and bundle if off to Chicago<\/strong>. As for Bally’s Dover, it’s being outmarketed by nearby Harrington Raceway<\/strong>. Our guy was just at both of them. Bally’s offer was room comps but Harrington’s was comparatively George: $100 in dining credits (“They have an excellent steakhouse<\/em>“) and a slot tournament. They don’t have a hotel at Harrington but one of the casino guests scored an offer for a free cruise. Nice!<\/p>\n\n\n\n

Despite nominal governance from Trenton<\/strong>, Atlantic City itself continues to decline, perhaps faster than ever. Mayor Marty Small<\/strong> (D, below<\/em>) and his obstreperous wife have been indicted for witness tampering in their ongoing legal struggles. A woman was raped in the city’s bus station and nobody noticed while it was taking place. Upon further review of the security [sic<\/em>] tapes, the crime was established. And the city’s only air carrier, Spirit Airlines<\/strong>, has filed for bankruptcy (as you know), cutting off an avenue of escape for Atlantic Citizens fleeing to Florida<\/strong> this time of year.<\/p>\n\n\n

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Meanwhile, public housing units will have their heat restored\u2014by the end of November. A good thing it never gets cold on the seashore. Not! Our guy also vouchsafed some color on the latest comedy of errors from the Casino Reinvestment & Development Authority<\/strong>, which disburses tax money collected from the gambling halls. The CRDA “is paying the Sav-A-Lot<\/strong> store in Renaissance Plaza<\/strong> $500,000 for renovations and to stay in that Plaza. The CRDA is also going to pay $200,000 for a ‘study’ to determine how to improve the center. But wait … the Press of Atlantic City<\/em> mentioned the CRDA owns the Plaza! Since the CRDA owns the Plaza, they know when the leases expire for the liquor store that seems to be the biggest problem there. The Press <\/em>reports (homeless?) people begging for money, doing drugs, having sex. All the CRDA people have to do is drive into the Plaza, and look around. Did I just save them $200K?”<\/p>\n\n\n\n

When not battling indictments, Mayor Small is full of grand ideas\u2014like expanding marijuana sales beyond the casino zones. Having recently experienced the pleasures of cannabis gummies, we can’t say we’re against<\/em> the idea. But as one casino employee told our correspondent, “I smoke but we don’t need a weed\/pot shop on every city block.” We defer to the locals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Congratulations, Atlantic City. Your relevance is being questioned again. Not only did casino revenues drop 8.5% last month (though they were still 3% better than prior to Covid-19 disruption), brick-and-mortar gambling yielded less than Internet betting did. Cyber casinos made $213.5 million, compared to $209 million for terrestrial ones. The blame game is undoubtedly very […]<\/p>\n","protected":false},"author":83928,"featured_media":868680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1728],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.lasvegasadvisor.com\/shop\/wp-content\/uploads\/2024\/11\/Hard-Rock-AC-high-limit-slots-scaled.jpg?fit=2560%2C1920&ssl=1","_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/868679"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/users\/83928"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/comments?post=868679"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/868679\/revisions"}],"predecessor-version":[{"id":868694,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/868679\/revisions\/868694"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media\/868680"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=868679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=868679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=868679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}