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View Diary: NJ Casino Declares Bankruptcy In 10 Months, Gov. Christie's Bad Bet Will Cost Taxpayers Millions (184 comments)

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  •  no gambling is down overall as one of the links (4+ / 0-)
    Recommended by:
    mconvente, Bronx59, Hey338Too, Paper Cup

    said, there was a percentage revenue number down I think it was 30%

    It is the latest in a series of recent bankruptcies involving Atlantic City casinos. Trump Entertainment Resorts emerged in 2010 from the third Chapter 11 bankruptcy that it or its corporate predecessors had filed, and the Tropicana Casino and Resort was sold that same year out of bankruptcy court to billionaire Carl Icahn.

    Revel was the first new casino built in Atlantic City since the Borgata Hotel Casino & Spa opened in 2003.

    It was an ambitious, risky project in a declining market. It saw itself not as a casino resort but as a resort that happened to have a casino. But the distinction seemed to have been lost on many customers, who found its restaurants and hotel rooms pricey.

    "I'm sculpting now. Landscapes mostly." ~ Yogi Bear

    by eXtina on Thu Feb 21, 2013 at 12:08:36 PM PST

    [ Parent ]

    •  Recently... and relatively (5+ / 0-)
      Recommended by:
      eXtina, mconvente, Losty, Paper Cup, Woody

      I meant more recently.

      As a group, the city’s 11 oldest casinos, increased gross operating profits by more than 2 percent to $186 million during the third quarter, according to the New Jersey Division of Gaming Enforcement. It was the fourth-consecutive quarterly increase for the group.
      http://www.pressofatlanticcity.com/...

      These numbers take into account more than just gaming though.

      Still, the images attached to that article can show you which direction that town is going.

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