Things are not great right now in Atlantic City. Casinos are closing, revenues are falling and profits are drying up month after month. It’s really a time when resorts are carefully monitoring every buck that is available in and out of their balance publications. In short, it’s concerning the time that is worst possible for the six-figure sum to go missing from a single associated with city’s casinos.
Based on police, two masked thieves walked out of Caesars Atlantic City with additional than $180,000 on Monday after a raid that is smash-and-grab the casino. The robbery reportedly occurred on Monday early morning, though police did not immediately release much information about the facts of the crime. In accordance with United States Of America Today, trooper Alina Spies said that police were investigating the matter, but they don’t want to provide any information that might hinder the research that was underway.
Early Morning Robbery
Neighborhood media, citing authorities sources, said that the robbery included two suspects who entered Caesars Atlantic City around 6 am. One or more of them had a gun and pulled it before stealing two synthetic boxes that contained the stolen cash. Then they fled the scene in car at approximately 6:20 am, according up to a police bulletin.
The truth is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery occurred inside of the casino. If the crime had taken place in a hotel or other public area, it would be customary for city police to deal with the matter.
While $181,000 may not be much in the grand scheme of things for a casino that is majorCaesars introduced $28.8 million in revenue during June alone), the theft comes during the worst possible time for an Atlantic City venue. The town has been struggling seemingly on all fronts, and that’s mostly driven by struggling casino properties. Revenues at the city’s casinos have been falling for decades, so when many as four casinos could wind up shutting throughout the length of 2013.
One particular casinos, the Showboat, is operated by Caesars and is scheduled to close during the end of August. Others include the Atlantic Club, which closed in January, the Trump Plaza, which is scheduled for closure later this season, and the Revel, that is currently in bankruptcy court and could close if your customer is not discovered.
Caesars Atlantic City occupies a big, high-rise building that uses up a block involving the famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It is not clear the way the perpetrators exited or entered the building.
Casino Heists Not Unheard Of
While casino security is virtually second-to-none, that does not mean that it’s impossible for crooks to periodically pull a heist. The schemes, nonetheless, are rarely as complex as something you’d see in Ocean’s 11.
For example, this season, a gunman wearing a motorcycle helmet dashed in to the Bellagio in the nevada Strip. He proceeded to take potato chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, had been fundamentally caught months later on and was sentenced to prison.
Atlantic City Casino Struggles Hurting Regional Economy
Atlantic City’s beaches could help attract tourists who’ren’t thinking about gambling. (Image: ACHotelExperts.com)
As Atlantic City watches gambling enterprises close left and right, officials admit that the populous city may have to get ways to diversify as gambling revenues continue to tumble. In addition they acknowledge that this isn’t going to be a simple transition: the city has gotten used to relying on the gaming industry, and that’ll be a hard habit to split. But what might never be immediately apparent is the amount of this shift in priorities could hurt the entire Jersey shore.
Atlantic City’s casinos have very long brought tourists to the location, gamblers and others who’ll spend time at then other venues along the shore. But it’s more than that: according to a 2008 study by Rutgers University, some 100,000 jobs in New Jersey had been tied to the gaming industry in a single way or another. That accounts for around two percent of the state’s total workforce.
‘When Atlantic City suffers, the whole area suffers,’ said David Breeden, administrator for town of Barnegat.
Several Casinos Closing This Year
Up to four Atlantic City casinos that were operating in 2013 may be closed by the end of in 2010. The Atlantic Club closed in January, whilst the Showboat while the Trump Plaza are both expected to close in the next few months. The Revel may possibly also shut this if a buyer can’t be found year.
With casino profits under pressure from rivals in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in terms of gaming revenues), Atlantic City is now attempting to get other ways to attract visitors outside of slot devices and dining table games. That doesn’t mean abandoning the casinos completely, but rather giving visitors more reason to avoid with a city that is seemingly regarding the decline.
That could mean more attractions for families, bringing larger conventions to the city, and ensuring amenities are there any for those who are only casual gamblers. But that’s likely to just take some time to perfect, and the transition is anticipated to be rough.
‘It’s coming at a time that is bad’ said Stafford Mayor John Spodofora. ‘There are not many corporations that are big hire individuals down here. The gambling enterprises have now been a boon for folks down here.’
A Painful Transition
Even if Atlantic City does have the ability to rebound, it’s unclear whether it will ever be exactly like it had been in its gaming heyday. New organizations may create jobs, but there is no guarantee that they’re going to be the same kinds of high-paying opportunities afforded by the casinos.
‘We will endure the pain that comes with transitioning from an economy extremely reliant for a industry that is single’ said Atlantic City mayor Don Guardian.
The city does still draw about 27 million visitors each year, so there’s certainly plenty of disposable income to go around if aussie-pokies.club the city can find the right way to capture it on the bright side. There are also plenty of resources that could help Atlantic City make such a transition: there is still the boardwalk that is world-famous plus the beaches are nevertheless an excellent draw through the summers.
But while wanting to squeeze more out of tourism will help, some certainly experts believe Atlantic City should look for other opportunities for development also.
‘I’m all for trying to increase the size regarding the pie that is non-gaming however just hospitality and tourism,’ Deborah M. Figart, teacher of education and economics during the Richard Stockton university of New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, which are not a one- or town that is two-industry those urban centers have a tendency to prosper and prosper even in times of recession.’
Nevada Casinos Could Ban Smoking in Near Future
More casino areas are getting smoke-free, and a ban that is total Nevada casinos could be just around the corner. (Image: Mel Evans/AP)
Several years ago of gambling, the general public image of the casino floor had been one of smoke-filled tables and a cloudy haze through the entire halls. Throughout the years, that vision has largely changed: enter any major casino, and there are likely to be large swaths of smoke-free areas for patrons that would prefer a slightly more gambling experience that is breathable. Nevertheless, at the least in Nevada, there has nevertheless been room for smokers and non-smokers alike.
But according to some analysts, that might be changing soon. Many states with casino gambling have already outlawed smoking in casinos, and Macau is currently planning to implement a ban later this year. That and other signs have led Deutsche Bank video gaming analyst Andrew Zarnett to predict that the cigarette smoking ban could come to Nevada within the next two years.
Zarnett cited a variety of the move by Macau, which could now be an industry trendsetter, as well as the study that is continued of perils of second-hand smoking as factors leading him to believe that such a ban could possibly be coming sooner rather than later.
Smoking Ban Could Be Expensive
But he additionally warned that such a ban could price Nevada casinos lot of cash. He remarked that other states have observed significant income decreases after passing such laws in the past: Delaware’s casino profits fell 11.3 % after having a 2002 ban, while Illinois saw a 20.9 percent drop after their particular 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it had been to accomplish exactly the same.
That might mean that such a ban wouldn’t be complete, and would still give smokers an area where they are able to sneak in several puffs that are good. In Macau, smoking would nevertheless be allowed into the high-end areas where VIP gamblers congregate, and you will see special smoking cigarettes rooms with segregated ventilation systems. The latter is truly the solution now set up in Las Vegas’ international airport, McCarran, where smokers sit inside large lucite-surrounded free-standing ‘rooms’ that are completely closed off from the airport that is main, where cigarette smoking is forbidden.
The Macau ban goes into effect on October 6, simply after the Golden Week holiday ends. Any smoking cigarettes areas that are built in gambling enterprises must take into account fewer than half of this overall gaming area in each venue.
No Immediate Push for a Ban
According to officials in Nevada, there isn’t any push that is immediate ban smoking in casinos anywhere in their state, and there is no general public groundswell to do so. But even if it had been to take place, it would likely not be the surprise to the system that it sounds enjoy it could be. In 2006, Nevada voters banned smoking in all places that are public than casino floors. And some casino areas seem to be smoke-free, including numerous poker spaces and recreations books. The entire World variety of Poker had been played in a smoke-free environment this year.
And while those projections of major losses may be frightening, not everyone agrees that smoking bans are directly associated to casino profits.
‘Bad weather, fuel costs, market saturation, competition, casino debt, the recession that began in 2008 that severely impacted all gaming profits, including Vegas, are the other cards lacking using this deck,’ said Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the reason behind income decreases, rather, it’s poor business preparation.’
And even if the gambling enterprises aren’t about to put a ban into place right away, Steinberg agrees so it shall come eventually.
‘Casino smoking bans are everywhere and inevitable,’ she said. ‘Nevada is next and the gaming industry knows it.’