Spectrum Gaming Group
A hearing is set next week in federal bankruptcy court on whether to approve a $110 million bid to take over the closed Revel Hotel and Casino in Atlantic City.
Some industry experts are suggesting the struggling casino-hotel might not have to close after all.
Internet gambling may begin in New Jersey after a five-day trial period to make sure things work properly.
Casino officials say they are closing down the poker room in an effort to improve the casino’s overall operating performance.
Atlantic City casino operators are looking for new options to turn their fortunes around as profits continue to shrink in the midst of increased competition from other states.
Revel, Atlantic City’s newest casino, will be filing for Chapter 11 Bankruptcy next month, less than one year after opening to the public.
To get excited about a loss may sound crazy, but September’s drop of .6 percent has analysts like Joe Weinert at the Spectrum Gaming Group feeling cautiously optimistic about Atlantic City’s casinos.
Revenues at Atlantic City’s 11 casinos are down again for the month of February but not by much.
Spending is up for hotel rooms, meals, concerts and nightclubs — even as the gambling take has dropped for the New Jersey resort’s11 casinos.