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Should Atlantic City Close Land Casinos In Favor Of Online Ones?
Tuesday August 19,2014 : ONLINE INSTEAD OF BRICKS AND MORTAR AT ATLANTIC CITY?
An interesting alternative from the New York Post.
With three Atlantic City land operators going to the wall this year and persistently declining revenues from the land gambling side, the New York Post suggested an innovative alternative this week...focus on internet and mobile gambling and shutter the land casinos.
The idea is not quite as tongue-in-cheek as it may appear; the newspaper outlines the billions that have been lost in trying to make a success of the bricks and mortar enterprises in AC as competition has mounted from new casinos in neighbouring states.
And, as New Jersey state Senator Ray Lesniak keeps reminding everyone, there is great potential for employment and taxes in creating an international online gambling bub in Atlantic City.
Opponents of such a revolutionary solution as shuttering land gambling will, however, point to the disappointingly slow take-off of legalised online gambling in the state since last November's launches, which have produced numbers that are not even close to the ambitious predictions last year of politicians and analysts.
The Post uses the soon-to-close Revel Casino to make a point on how much money has been lost, commenting that the $2.4 billion venture has received $261 million in state tax breaks and has still failed. It argues that the $261 million could have been spent paying $84,000 each to the 3,100 employees set to lose their jobs at the Revel.
To make matters worse, Deutsche Bank has predicted that the city will have only six casinos by 2017, the Post notes, observing that Atlantic City unemployment is high at 18 percent, and that median household income remains less than half of the rest of the state.
Attempts to introduce sports betting to boost the land gambling operations have failed after litigation and Governor Chris Christie vetoing the latest bill from the Legislature seeking to circumvent the federal PASPA
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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