A union official says employees of The Showboat Casino Hotel will receive notices on Friday warning that the casino may close in two months.
Shortly after distributing the letters, Revel filed a Chapter 11 petition with the federal bankruptcy court, its second in as many years. Revel said it hopes to find a buyer quickly.
The CEO of Caesars Entertainment says Atlantic City has too many casinos, and that one or more needs to close.
A down year with a strong finish. That’s how New Jersey gaming officials describe the profits of the 12 Atlantic City casinos last year.
The New Jersey Division of Gaming Enforcement revealed Tuesday it has issued $26,500 worth of fines against the Borgata Hotel Casino & Spa, and Revel Casino Hotel.
Atlantic City’s casino revenue fell below $3 billion last year for the first time in 22 years, as increasing competition in the northeastern U.S. continued to shrink the market.
“Pennsylvanians like gambling where it is right now,” Tim Malloy, assistant director of the Quinnipiac University Polling Institute, said.
The number of people signing up for Internet gambling in New Jersey continues to rise.
Atlantic City’s casino revenue increased by more than 27 percent in November compared to a year ago, and that’s only because Superstorm Sandy forced the casinos to close for nearly a week in November 2012.
Pennsylvania casinos reported Wednesday that table games saw a drop of about 3.6 percent in September compared to a year ago, adding to the woes of casino owners after slot machine revenues also saw a decline.
Seasonal layoffs at struggling Atlantic City casinos are coming a little sooner than usual.
An aggressive slot refund promotion helped Atlantic City’s newest casino to a banner month in July, but most of the rest of the casinos got off to a cool start as summer heated up.
Total gambling revenue at the state’s 11 casinos was flat for the fiscal year that just ended, but gross revenue from table games grew 7.4 percent on the strength of continued strong growth at the Sands Casino Resort Bethlehem and the first full year of play at Valley Forge Casino Resort, according to annual figures released by state regulators Tuesday.
Authorities in New Jersey have indicted 23 people on charges they allegedly posed as business account holders to steal hundreds of thousands of dollars, withdrawing most of the money from casinos in Atlantic City.
Casinos in New Jersey and Nevada are among those forbidding gamblers from wearing Google Glass, the tiny eyeglasses-mounted device capable of shooting photos, filming video and surfing the Internet.