Atlantic City Casinos Face Challenges In The New Year
PHILADELPHIA (CBS) – 2011 is not expected to be a Happy New Year for Atlantic City’s 11 casinos in the eyes of one outsider, who keeps an eye on the gaming industry for a living.
When Joseph Weinert at Spectrum Gaming Group says casinos down the shore have had a hard time of it, he has a record to go on — one that’s getting longer and darker.
“This is four years now that it has felt the brunt of the competition from Eastern Pennsylvania, and also the recession and we’re forecasting more pain in 2011.”
In the spring, a casino will open up at Aqueduct race track in New York. Not to mention a full year of betting at the new Sugar House casino in Philadelphia and the live table games at venues in Chester, Bensalem, Bethlehem and across Pennsylvania. Put that all together and it doesn’t make it easy for Atlantic City to compete.
New Jersey lawmakers are still wrestling with measures that could ease regulation and create state-run casino districts in the hope of spurring development.
Reported By David Madden, KYW Newsradio.