Nearly 3,000 workers lost their jobs. Reopened in 2018 as the Hard Rock Hotel and Casino Atlantic City. Trump Plaza: May 14, 1984: September 16, 2014: On February 15, 2013, Trump Entertainment Resorts announced that it intended to sell Trump Plaza to the Meruelo Group for $20 million, the lowest price ever paid for an Atlantic City casino. What Year Did Gambling Become Legal In Atlantic City, gambling effect on economy, slot machine idioms, rws casino forum. January 7, 2018. Free Spins-Free Spins. Revel Casino was supposed to be a game-changer for Atlantic City. The high-end mega-property with $2.4 billion price tag aimed to change the way Atlantic City did business by cultivating an elite clientele, offering top-of-the-line entertainment and amenities, and employing a business plan not unlike the boutique casinos of Las Vegas. When Did Gambling Become Legal In Atlantic City, casino atari 2600 value, should gambling be legalized in hawaii, paradise casino admiral hate. The Casino Control Commission reported Tuesday that the seven active casinos in Atlantic City grossed an operating profit of $123.6 million from January through March this year – 11.8 percent.
Atlantic City has seen a dozen casinos open up over the 40-plus years New Jerseycasino gambling has been legal.
Four of them ceased operations in 2014 and a fifth closed in 2016. At least one of those properties is now a non-gaming hotel and two others opened under different names. Several plans for the other two have been thrown at the wall, but none have stuck.
The AC casino industry now boasts nine active casinos. It has had its share of ups and downs, including several occasions when all casinos closed due to either government shutdowns or global pandemics.
Below you'll find brief histories of all 12 casinos in Atlantic City and an explanation of where they are today. Plus, we take a closer look at the most recent and longest casino shut down due to the coronavirus pandemic.
COVID-19 pandemic shuts down Atlantic City casinos
On March 16, 2020, Gov. Phil Murphy ordered lights out at Atlantic City casinos.
For just the fifth time in the history of legal New Jersey casino gambling, all casinos closed in an effort to contain the coronavirus, also called COVID-19.
Shortly after the March 16 closure, Murphy said AC casinos would remain closed until it is safe for them to reopen.
'It is no longer time for business as usual. This is real. Stop believing folks who say this isn't real.'
How long were Atlantic City casinos closed?
The exact date for reopening would be 108 days later on July 2. This makes the coronavirus closure the longest shutdown of NJ gambling in the state's history.
Atlantic City casinos reopened with several health and safety restrictions, including a 25% capacity limit. This restriction is still in place as of September 2020 with no timeline on when or if it will change.
BREAKING: On Thursday, July 2nd:
🎰Casinos may reopen – operating at 25% capacity
🍽️Indoor dining may resume – limited at first to 25% capacity
Additional health and safety guidance will be released within the next several days. pic.twitter.com/b4jY2fR3sp
— Governor Phil Murphy (@GovMurphy) June 22, 2020
Most Atlantic City casinos reopened on July 2 and July 3 before the holiday weekend. However, Borgata's planned reopening of July 6 was canceled. The casino chose to stay closed after news came that indoor diningwould not resume as planned.
Borgata would eventually reopen but nearly a month after the other eight casinos on July 26. Indoor dining resumed at 25% capacity on Sept. 4.
AC casinos forced to close before
AC casinos closed five times since gambling began in 1978. Three closures were related to hurricanes and one due to a government shutdown:
- 1985: Hurricane Gloria
- 2006: Government shutdown (three days)
- 2011: Hurricane Irene (three days)
- 2012: Hurricane Sandy (five days)
- 2020: COVID-19 pandemic (108 days)
Operating New Jersey casinos
Bally's
Bally's Atlantic City opened in 1979 at the corner of Park Place and the Boardwalk. The property featured two casinos with more than 220,000 square feet of gaming space and more than 5,000 slot machines.
However, with Caesars Entertainment merging with Eldorado Resorts, Bally's and Wild Wild West Casino will part ways. The former will be sold to Twin River Worldwide Holdings. The latter will become part of the neighboring Caesars Atlantic City.
The sale of Bally's is still pending. And a name change is entirely possible.
Borgata
The Borgata Hotel Casino & Spa opened in Atlantic City in 2003. It has been the market's top-grossing casino property ever since. Borgata was originally a partnership between MGM Resorts and Boyd Gaming. MGM bought out Boyd's 50% interest in 2016.
The property features a 2,000-room hotel and a 161,000-square-foot casino with close to 3,500 slot machines and more than 250 table games. It is also home to the premier poker room on the East Coast.
Borgat is home to not one but two retail sportsbooks. The BetMGM Sportsbook & Bar and the Borgata Race & Sports Book are located next to each other, but the latter is the only one spot in AC that allows horse betting.
The Water Club at Borgata, an 800-room boutique hotel, was added in 2008.
Caesars Atlantic City
Caesars Atlantic City first opened as the Boardwalk Regency in Atlantic City in 1979. The company bought an 11-story Howard Johnson's Regency Motor Hotel on the property and renovated it to include seven more floors and a 52,000-square-foot casino. When it opened, it was just the second legal casino in Atlantic City.
In 1983, the company added the name Caesars and it became Caesars Boardwalk Regency. In 1987, Caesars renamed the property Caesars Atlantic City. The casino expanded its gaming floor and added two more hotel towers during the next 20 years.
The property now has more than 1,100 rooms and 145,000 square feet of gaming space, featuring more than 3,000 slot machines and 135 table games.
With the pending sale of its Boardwalk neighbor Bally's, Caesars AC will become home to the largest sportsbook in the resort town.
Golden Nugget Atlantic City
Golden Nugget Atlantic City was originally built by Hilton Hotels. As construction was wrapping up, the company was denied a gambling license. It sold the complex to partner Donald Trump and the property opened in 1985 as Trump's Castle. Trump renamed it Trump Marina in 1997.
Houston-based hospitality and entertainment company Landry's, Inc. bought the property in 2011. Landry's changed its name to Golden Nugget Atlantic City and spent $150 million on renovations.
Golden Nugget Atlantic City now contains almost 75,000 square feet of gaming space and 728 hotel rooms.
Harrah's
Harrah's Resort Atlantic City was the Atlantic City Marina District's original hotel and casino. It is also the flagship property under the Harrah's brand.
The property opened in November 1980 as Harrah's Marina Resort. It was the first casino in Atlantic City not on the Boardwalk.
It opened with a 506-room Harbor Tower. A new all-suite Atrium Tower premiered in 1986. In 1997, the property constructed the 16-story Marina Tower. In 2002, the 25-story Bayview Tower debuted. Finally, in 2008 came the addition of the Waterfront Tower, along with a new pool and spa.
The casino has been expanded to feature 177,000 square feet of gaming space, with more than 5,500 slots and video poker games. It also has close to 140 table games and a 40-table poker room.
Resorts
Resorts Casino Hotel became Atlantic City's first legal casino when it opened in May 1978. It was originally built on land that housed two three-story wooden Quaker rooming houses. The casino and hotel grew in 2004 with the addition of a 27-story hotel tower.
Renovations in 2011 saw Resorts converted to a Roaring Twenties-themed property. Resorts now boasts 80,000 square feet of gaming space with more than 1,500 slot machines and 70 table games.
Tropicana
The bones of the Tropicana Casino & Resort Atlantic City are made up of the original Ambassador Hotel built back in 1919. The historic hotel closed in the early 1970s. Ramada bought it in 1978. In 1981, Ramada rebuilt the property into Tropicana Atlantic City, a 521-room hotel and casino on the Atlantic City Boardwalk.
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Tropicana expanded with a second hotel tower and an amusement center called Tivoli Pier in 1988. The property changed its name to Tropworld Casino and Entertainment Resort. In 1996, a new 604-room hotel tower opened, Tivoli Pier closed, and the entire property was renovated. It then took on the name Tropicana Casino & Resort Atlantic City.
The property underwent further expansion and more renovations in 2004. At that time, The Quarter at Tropicana, an old-Havana themed shopping mall, opened up.
Tropicana, or the Trop as it's known locally, now boasts three floors of gaming with more than 3,000 slot machines and 135 table games. There are also some 2,400 hotel rooms on the property. Plus, Tropicana acquired The Chelsea in 2017, a 330-room boutique hotel next door.
The casino was an Eldorado Resorts company, but the Caesars Entertainment merger puts Tropicana under the Caesars umbrella.
New Atlantic City casinos
Ocean Casino Resort
Plans to build the Revel Casino Resort on the Atlantic City Boardwalk property across from the Showboat Casino Hotel began in 2007. A $2 billion casino hotel with two-700-foot towers was expected to be completed in 2010. Financial troubles and construction slowdowns plagued the project and the opening date was pushed back several times.
Revel opened on April 2, 2012. Operators filed for bankruptcy within a year. The hotel and casino shut down in September 2014. Florida developer Glenn Straub bought it out of bankruptcy court for $82 million in 2015. Straub had difficulties obtaining the necessary state and local permits to reopen. After rebranding the property TEN, he pushed back relaunch dates several times.
At one time, the property contained 1,400 hotel rooms and as much as 130,000 square feet of gaming floor space.
In late 2017, rumors started to churn that Straub was considering selling the former Revel. Those rumors proved to be true when in January 2018, word came that the casino had been sold to Colorado developer AC Ocean Walk.
The property opened as Ocean Resort Casino on June 28 and was one of the first casinos on the Boardwalk to have a sportsbook.
In early 2019, the casino was once again sold, this time to Luxor Capital Investments. The casino was rebranded to Ocean Casino Resort and has since gained market share.
Hard Rock Atlantic City
Built at a cost of more than $1 billion, Trump Taj Mahal first opened in 1990 and was the largest casino in the world at the time. It was the top-grossing casino in Atlantic City prior to the opening of the Borgata Hotel Casino & Spa in 2003.
However, Trump Taj Mahal went through numerous bankruptcy proceedings and ownership changes over its more than 25 years in operation.
Trump Taj Mahal closed down on Oct. 10, 2016, in the middle of a labor dispute.
The property was sold to Hard Rock International in 2017 and went through a $500 million renovation. It reopened as Hard Rock Hotel & Casino Atlantic City in June 2018, quickly becoming one of the top casinos in the market.
Repurposed casino properties in AC
Showboat Atlantic City
The Showboat Hotel, Casino and Bowling Center opened in March 1987 featuring a 60,000-square-foot casino and a 60-lane bowling alley. A renovation in 1995 brought in a Mardi Gras theme. In 1998, Harrah's Entertainment bought Showboat's parent company and took ownership.
The casino converted the bowling alley into a buffet in 2001. In 2003, it built another hotel tower and remodeled the original. In 2004, it constructed a third hotel tower. That same year, Harrah's Entertainment became Caesars Entertainment and made plans to close and sell the casino. Caesars shuttered the Showboat on Aug. 31, 2014, after failing to find a buyer.
Richard Stockton College bought the property with plans to turn it into a college campus but later sold to Philadelphia developer Bart Blatstein. It reopened as a non-gaming hotel in July 2016. (A deed restriction on the property prevents it from reactivating a casino.)
Blatstein's Showboat plans include an indoor water park on the vacant lot next door to Showboat.
New Jersey casinos closed for good?
The Atlantic Club Casino Hotel
The Atlantic Club Casino Hotel was Atlantic City's original Golden Nugget. In fact, it opened up as the Golden Nugget Hotel & Casino in 1980. Bally Manufacturing acquired the casino in 1987 and changed the name to Bally's Grand Hotel and Casino.
Hilton Hotels Corporation bought Bally in 1998 and renamed the property Atlantic City Hilton.
In 2005, Resorts International Holdings bought the casino and ran Resorts Atlantic City and the Atlantic City Hilton for the next four years as a single entity.
The Hilton name was removed in June 2011 and it became the ACH Casino Resort. It was rebranded and renamed The Atlantic Club Casino Hotel in 2012.
The casino shut its doors on Jan. 13, 2014. Caesars Entertainment bought the property and Tropicana obtained all the gaming equipment. However, Caesars Entertainment sold the property to TJM Properties in 2014. TJM made plans to reopen it as a non-gaming property.
The company announced in 2017 another developer would be purchasing the property and turning it into an indoor waterpark. The financing for this project ultimately fell through.
Several other deals fell through in the next two years before TJM announced in October 2019 that Colosseo Atlantic City Inc. had purchased the property with plans to turn into a non-gaming hotel. Those plans are mostly still a mystery.
Trump Plaza
Harrah's at Trump Plaza was the biggest casino in Atlantic City history when it opened in May 1984. It was a joint partnership between Donald Trump and Holiday Inn's Two doubles poker. gaming division Harrah's. It originally featured 614 rooms and a 60,000-square-foot casino.
When Trump opened Trump Castle, Harrah's claimed it was a conflict of interest. Trump bought out Harrah's interest in the property and rechristened it Trump Plaza.
The property went through a bankruptcy in 1992 and Trump's publicly traded Trump Hotels & Casino Resorts took ownership. Trump added a new hotel tower in 1996.
In 2011, the renamed Trump Entertainment Resorts announced it was looking to sell or find a financing partner for a renovation. The company could not find a buyer and Trump Plaza shut down in September 2014.
Over the next six years, the crumbling facade of Trump Plaza would become more than a nuisance. Carl Icahn bought the land in late 2018, terminating the lease on the land and halting any potential buyers. Demolition seemed imperative and likely with no buyers on the horizon.
After a push from Atlantic City's mayor, Trump Plaza is scheduled to be demolished in January 2021.
Image credit: Felix Mizioznikov / Shutterstock.com
A time few could imagine during the not-too-distant glory days of casino gambling has arrived in Atlantic City, where two casinos will close this weekend and a third will shut down in two weeks.
More than 5,000 workers will lose their jobs in an unprecedented weekend in the seaside gambling resort, leaving many feeling betrayed by a system that once promised stable, well-paying jobs.
The Showboat is closing Sunday, followed by Revel on Monday and Tuesday. Trump Plaza is next, closing Sept. 16. To the thousands who will be left behind, it still seems unreal.
Caesars Atlantic City
Caesars Atlantic City first opened as the Boardwalk Regency in Atlantic City in 1979. The company bought an 11-story Howard Johnson's Regency Motor Hotel on the property and renovated it to include seven more floors and a 52,000-square-foot casino. When it opened, it was just the second legal casino in Atlantic City.
In 1983, the company added the name Caesars and it became Caesars Boardwalk Regency. In 1987, Caesars renamed the property Caesars Atlantic City. The casino expanded its gaming floor and added two more hotel towers during the next 20 years.
The property now has more than 1,100 rooms and 145,000 square feet of gaming space, featuring more than 3,000 slot machines and 135 table games.
With the pending sale of its Boardwalk neighbor Bally's, Caesars AC will become home to the largest sportsbook in the resort town.
Golden Nugget Atlantic City
Golden Nugget Atlantic City was originally built by Hilton Hotels. As construction was wrapping up, the company was denied a gambling license. It sold the complex to partner Donald Trump and the property opened in 1985 as Trump's Castle. Trump renamed it Trump Marina in 1997.
Houston-based hospitality and entertainment company Landry's, Inc. bought the property in 2011. Landry's changed its name to Golden Nugget Atlantic City and spent $150 million on renovations.
Golden Nugget Atlantic City now contains almost 75,000 square feet of gaming space and 728 hotel rooms.
Harrah's
Harrah's Resort Atlantic City was the Atlantic City Marina District's original hotel and casino. It is also the flagship property under the Harrah's brand.
The property opened in November 1980 as Harrah's Marina Resort. It was the first casino in Atlantic City not on the Boardwalk.
It opened with a 506-room Harbor Tower. A new all-suite Atrium Tower premiered in 1986. In 1997, the property constructed the 16-story Marina Tower. In 2002, the 25-story Bayview Tower debuted. Finally, in 2008 came the addition of the Waterfront Tower, along with a new pool and spa.
The casino has been expanded to feature 177,000 square feet of gaming space, with more than 5,500 slots and video poker games. It also has close to 140 table games and a 40-table poker room.
Resorts
Resorts Casino Hotel became Atlantic City's first legal casino when it opened in May 1978. It was originally built on land that housed two three-story wooden Quaker rooming houses. The casino and hotel grew in 2004 with the addition of a 27-story hotel tower.
Renovations in 2011 saw Resorts converted to a Roaring Twenties-themed property. Resorts now boasts 80,000 square feet of gaming space with more than 1,500 slot machines and 70 table games.
Tropicana
The bones of the Tropicana Casino & Resort Atlantic City are made up of the original Ambassador Hotel built back in 1919. The historic hotel closed in the early 1970s. Ramada bought it in 1978. In 1981, Ramada rebuilt the property into Tropicana Atlantic City, a 521-room hotel and casino on the Atlantic City Boardwalk.
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Tropicana expanded with a second hotel tower and an amusement center called Tivoli Pier in 1988. The property changed its name to Tropworld Casino and Entertainment Resort. In 1996, a new 604-room hotel tower opened, Tivoli Pier closed, and the entire property was renovated. It then took on the name Tropicana Casino & Resort Atlantic City.
The property underwent further expansion and more renovations in 2004. At that time, The Quarter at Tropicana, an old-Havana themed shopping mall, opened up.
Tropicana, or the Trop as it's known locally, now boasts three floors of gaming with more than 3,000 slot machines and 135 table games. There are also some 2,400 hotel rooms on the property. Plus, Tropicana acquired The Chelsea in 2017, a 330-room boutique hotel next door.
The casino was an Eldorado Resorts company, but the Caesars Entertainment merger puts Tropicana under the Caesars umbrella.
New Atlantic City casinos
Ocean Casino Resort
Plans to build the Revel Casino Resort on the Atlantic City Boardwalk property across from the Showboat Casino Hotel began in 2007. A $2 billion casino hotel with two-700-foot towers was expected to be completed in 2010. Financial troubles and construction slowdowns plagued the project and the opening date was pushed back several times.
Revel opened on April 2, 2012. Operators filed for bankruptcy within a year. The hotel and casino shut down in September 2014. Florida developer Glenn Straub bought it out of bankruptcy court for $82 million in 2015. Straub had difficulties obtaining the necessary state and local permits to reopen. After rebranding the property TEN, he pushed back relaunch dates several times.
At one time, the property contained 1,400 hotel rooms and as much as 130,000 square feet of gaming floor space.
In late 2017, rumors started to churn that Straub was considering selling the former Revel. Those rumors proved to be true when in January 2018, word came that the casino had been sold to Colorado developer AC Ocean Walk.
The property opened as Ocean Resort Casino on June 28 and was one of the first casinos on the Boardwalk to have a sportsbook.
In early 2019, the casino was once again sold, this time to Luxor Capital Investments. The casino was rebranded to Ocean Casino Resort and has since gained market share.
Hard Rock Atlantic City
Built at a cost of more than $1 billion, Trump Taj Mahal first opened in 1990 and was the largest casino in the world at the time. It was the top-grossing casino in Atlantic City prior to the opening of the Borgata Hotel Casino & Spa in 2003.
However, Trump Taj Mahal went through numerous bankruptcy proceedings and ownership changes over its more than 25 years in operation.
Trump Taj Mahal closed down on Oct. 10, 2016, in the middle of a labor dispute.
The property was sold to Hard Rock International in 2017 and went through a $500 million renovation. It reopened as Hard Rock Hotel & Casino Atlantic City in June 2018, quickly becoming one of the top casinos in the market.
Repurposed casino properties in AC
Showboat Atlantic City
The Showboat Hotel, Casino and Bowling Center opened in March 1987 featuring a 60,000-square-foot casino and a 60-lane bowling alley. A renovation in 1995 brought in a Mardi Gras theme. In 1998, Harrah's Entertainment bought Showboat's parent company and took ownership.
The casino converted the bowling alley into a buffet in 2001. In 2003, it built another hotel tower and remodeled the original. In 2004, it constructed a third hotel tower. That same year, Harrah's Entertainment became Caesars Entertainment and made plans to close and sell the casino. Caesars shuttered the Showboat on Aug. 31, 2014, after failing to find a buyer.
Richard Stockton College bought the property with plans to turn it into a college campus but later sold to Philadelphia developer Bart Blatstein. It reopened as a non-gaming hotel in July 2016. (A deed restriction on the property prevents it from reactivating a casino.)
Blatstein's Showboat plans include an indoor water park on the vacant lot next door to Showboat.
New Jersey casinos closed for good?
The Atlantic Club Casino Hotel
The Atlantic Club Casino Hotel was Atlantic City's original Golden Nugget. In fact, it opened up as the Golden Nugget Hotel & Casino in 1980. Bally Manufacturing acquired the casino in 1987 and changed the name to Bally's Grand Hotel and Casino.
Hilton Hotels Corporation bought Bally in 1998 and renamed the property Atlantic City Hilton.
In 2005, Resorts International Holdings bought the casino and ran Resorts Atlantic City and the Atlantic City Hilton for the next four years as a single entity.
The Hilton name was removed in June 2011 and it became the ACH Casino Resort. It was rebranded and renamed The Atlantic Club Casino Hotel in 2012.
The casino shut its doors on Jan. 13, 2014. Caesars Entertainment bought the property and Tropicana obtained all the gaming equipment. However, Caesars Entertainment sold the property to TJM Properties in 2014. TJM made plans to reopen it as a non-gaming property.
The company announced in 2017 another developer would be purchasing the property and turning it into an indoor waterpark. The financing for this project ultimately fell through.
Several other deals fell through in the next two years before TJM announced in October 2019 that Colosseo Atlantic City Inc. had purchased the property with plans to turn into a non-gaming hotel. Those plans are mostly still a mystery.
Trump Plaza
Harrah's at Trump Plaza was the biggest casino in Atlantic City history when it opened in May 1984. It was a joint partnership between Donald Trump and Holiday Inn's Two doubles poker. gaming division Harrah's. It originally featured 614 rooms and a 60,000-square-foot casino.
When Trump opened Trump Castle, Harrah's claimed it was a conflict of interest. Trump bought out Harrah's interest in the property and rechristened it Trump Plaza.
The property went through a bankruptcy in 1992 and Trump's publicly traded Trump Hotels & Casino Resorts took ownership. Trump added a new hotel tower in 1996.
In 2011, the renamed Trump Entertainment Resorts announced it was looking to sell or find a financing partner for a renovation. The company could not find a buyer and Trump Plaza shut down in September 2014.
Over the next six years, the crumbling facade of Trump Plaza would become more than a nuisance. Carl Icahn bought the land in late 2018, terminating the lease on the land and halting any potential buyers. Demolition seemed imperative and likely with no buyers on the horizon.
After a push from Atlantic City's mayor, Trump Plaza is scheduled to be demolished in January 2021.
Image credit: Felix Mizioznikov / Shutterstock.com
A time few could imagine during the not-too-distant glory days of casino gambling has arrived in Atlantic City, where two casinos will close this weekend and a third will shut down in two weeks.
More than 5,000 workers will lose their jobs in an unprecedented weekend in the seaside gambling resort, leaving many feeling betrayed by a system that once promised stable, well-paying jobs.
The Showboat is closing Sunday, followed by Revel on Monday and Tuesday. Trump Plaza is next, closing Sept. 16. To the thousands who will be left behind, it still seems unreal.
'We never thought this would happen,' said Chris Ireland, who has been a bartender at the Showboat since it opened. His wife works there, too, as a cocktail server. Before dinnertime Sunday, neither will have a job.
What makes it even tougher to swallow is that the Showboat — one of four Atlantic City casinos owned by Caesars Entertainment — is still turning a profit. But the company says it is closing Showboat to help reduce the total number of casinos in Atlantic City. Caesars also teamed with Tropicana Entertainment to buy the Atlantic Club last December and close it in January.
'They just want to eliminate competition,' Ireland said. 'Everyone's in favor of a free market until it doesn't exactly work for them.'
Yet many analysts and casino executives say the painful contraction now shrinking Atlantic City's casino market is exactly what the city needs to survive. Since 2006, Atlantic City's casino revenue has fallen from $5.2 billion to $2.86 billion last year, and it will fall further this year. Atlantic City will end the year with eight casinos after beginning the year with 12.
New casinos popping up in an already saturated Northeastern U.S. gambling market aren't expanding the overall pie but are slicing it into ever-smaller pieces. Fewer casinos could mean better financial performance for the survivors.
Resorts Casino Hotel, which was on the verge of closing a few years ago, completed a remarkable turnaround in the second quarter of this year, swinging from a $1.3 million loss last year to a $1.9 million profit this year.
'I truly believe that eight remaining casinos can all do very well when the gambling market is right-sized,' said Resorts president Mark Giannantonio.
That may be true, but it is little comfort to workers who are losing their jobs. By the time Trump Plaza shuts down in two weeks, nearly 8,000 jobs — or a quarter of Atlantic City's casino workforce — will be unemployed. A mass unemployment filing due to begin Wednesday is so large it has been booked into the city's convention center.
When casino gambling was approved by New Jersey voters in 1976, it was billed as a way to revitalize Atlantic City and provide stable, lasting jobs. The first casino, Resorts, opened in 1978, kicking off three decades of soaring revenue and employment.
But the Great Recession hit just as new casinos were popping up in neighboring Pennsylvania and New York, cutting deeply into Atlantic City's customer base.
'There was a promise when casinos came in here that these would be good, viable jobs, something you could raise your family on and have a decent life with,' said Paul Smith, a cook at the Trump Taj Mahal Casino Resort. 'I feel so bad for all these people losing their jobs. It wasn't supposed to be like this.'
Mayor Don Guardian says his city is remaking itself as a more multifaceted destination, where gambling is only part of the allure. But he acknowledges the pain this weekend will bring.
'This is going to be a difficult few weeks for many of us in Atlantic City,' he said. 'People will lose their jobs, and that is never good news. Our hearts go out to our neighbors and friends. We still have difficult waters to navigate.'
Fitch Ratings predicted in a recent report that the city's casino revenues will decline to $2.5 billion in 2015 from last year's $2.86 billion. It also said it does not see any more casinos closing in Atlantic City for at least the next two years.
The firm also predicted that a good chunk of the money being won by the Showboat, Revel and Trump Plaza will go to the surviving Atlantic City casinos. Showboat and Revel are closing this weekend; Trump Plaza shuts down Sept. 16. After that, Atlantic City will have eight casinos after starting the year with 12.
Fitch predicted at least 50 percent of Revel's revenue will go to the remaining casinos, judging by increases that the Tropicana Casino and Resort and the Golden Nugget Atlantic City have seen since the Atlantic Club closed down in January.
A day before the report was issued, Joe Lupo, senior vice president of the Borgata Hotel Casino & Spa, Atlantic City's top casino, said the market is already responding positively to reduced capacity.
Greater building society casino. 'After the Atlantic Club closed, places like the Tropicana and the Golden Nugget are doing very well, and we had a great summer,' he said. 'While Revel has had a very difficult time, you have properties in Atlantic City that will become more profitable.'
Fitch also predicted 60 percent of Trump Plaza's revenue and 75 percent of Showboat's revenue will stay in Atlantic City, particularly with Showboat's parent company, Caesars Entertainment, also owning three other casinos that will continue to operate in Atlantic City.
Caesars said Friday that more than 470 Showboat employees have gotten jobs with other casinos the company owns, here or in other states. That figure represents about half the number who had applied for new jobs elsewhere in the company. The Showboat has more than 2,000 workers.
Fitch said the three Marina District casinos — the Borgata, Harrah's and the Golden Nugget — may benefit more than the Boardwalk casinos because the marina properties are 'the freshest' after major renovations in the last 10 years and because boardwalk activities are dwindling.
But it also predicted the Taj Mahal, Caesars and Bally's will get more business.
'Most of the closings are at the ends of the Boardwalk, leaving a cluster of remaining casinos (including Taj Mahal, Caesars and Bally's) that should see a sizable lift in business from the closures,' the company wrote.
Fitch also noted some positives for Atlantic City, including an 8 percent casino tax and diverse entertainment options.
When Did Gambling Become Legal In Atlantic City Nj
'Atlantic City remains one of the few places in the populous tri-state area to offer a full suite of eat, play and stay options and has by far the lowest gaming taxes,' Fitch wrote. 'Lower taxes give these casinos more room in the margin to spend on promotional activity, including free food and hotel stays.'
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Wayne Parry can be reached at http://twitter.com/WayneParryAC
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