Things are not great right now in Atlantic City. Casinos are closing, profits are falling and profits are drying up month after month. It’s a right time when resorts are carefully monitoring every dollar that is available in and out of their balance books. Simply speaking, it’s concerning the worst time possible for a six-figure sum to go missing from a single regarding the city’s casinos.
Based on police, two masked thieves walked out of Caesars Atlantic City with increased than $180,000 on Monday after a smash-and-grab raid on the casino. The robbery reportedly took place on Monday morning, though police did not immediately release much information about the facts of the crime. Based on United States Of America Today, trooper Alina Spies stated that police were investigating the matter, but which they don’t want to give any information that might hinder the investigation that was underway.
Early Morning Robbery
Neighborhood media, citing police sources, stated that the robbery involved 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. They then fled the scene in a motor car at approximately 6:20 am, according to a police bulletin.
The situation is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery took place inside of the casino. If the crime had occurred in a hotel or other area that is public it could 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 income during June alone), the theft comes at the worst possible time for an Atlantic City venue. The city has been struggling seemingly on all fronts, and that’s mostly driven by struggling casino properties. Revenues at the town’s casinos have been falling for a long time, so when many as four casinos could end up shutting throughout the span of 2013.
August one of those casinos, the Showboat, is operated by Caesars and is scheduled to close at the end of. Others include the Atlantic Club, which shut in January, the Trump Plaza, which is scheduled for closure later this season, as well as the Revel, which will be currently in bankruptcy court and could close in cases where a buyer is not discovered.
Caesars Atlantic City occupies a large, high-rise building that takes up a block involving the famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It is uncertain how the perpetrators exited or entered the building.
Casino Heists Not Unheard Of
While casino security is practically second-to-none, that does not mean that it’s impossible for criminals to sporadically pull a heist. The schemes, nevertheless, are rarely because complex as something you’d see in Ocean’s 11.
For example, this year, a gunman wearing a bike helmet dashed into the Bellagio on the Las Vegas Strip. He proceeded to steal potato chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, was ultimately caught months later and was sentenced to jail.
Atlantic City Casino Struggles Hurting Regional Economy
Atlantic City’s beaches may help attract tourists who aren’t enthusiastic about gambling. (Image: ACHotelExperts.com)
As Atlantic City watches casinos close left and right, officials admit that the city may have to find how to diversify as gambling revenues continue steadily to tumble. In addition they admit that this isn’t going to be a effortless transition: the city has gotten utilized to relying on the gaming industry, and which will be a hard habit to break. But just what might never be immediately apparent is just how much this shift in priorities could hurt the whole Jersey shore.
Atlantic City’s casinos have long brought tourists to the area, gamblers and others who will spend time at then other venues across 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 associated with the video gaming industry in one way or another. That accounts for around two percent of this 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 which were operating in 2013 may be closed by the end of this year. The Atlantic Club closed in January, whilst the Showboat and also the Trump Plaza are both expected to close in the next few months. The Revel may possibly also shut this year if a buyer can’t be found.
With casino revenues under some pressure from competitors in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in terms of gaming revenues), Atlantic City is now trying to find other methods to attract visitors outside of slot devices and dining table games. That does not mean abandoning the casinos altogether, but rather giving visitors more reason to end by a city that is seemingly on the decline.
That could mean more attractions for families, bringing larger conventions to the town, and making sure amenities are there for those who are only gamblers that are casual. But that’s planning to just take some right time to perfect, plus the change is anticipated to be rough.
‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not many corporations that are big hire individuals down here. The gambling enterprises are a boon for folks down here.’
A Painful Transition
Even if Atlantic City does have the ability to rebound, it’s unclear whether it’s going to ever be the same as it was in its gaming heyday. New companies may create jobs, but there’s no guarantee that they’ll end up being the same kinds of high-paying opportunities afforded by the casinos.
‘We will endure the pain sensation that comes with transitioning from an economy overly reliant on a industry that is single’ said Atlantic City mayor Don Guardian.
In the bright side, the town does still draw about 27 million site visitors each year, generally there’s certainly an abundance of disposable earnings to get around if the city can find the proper way to capture it. There are also plenty of resources which could help Atlantic City make such a transition: there’s still the boardwalk that is world-famous while the beaches are nevertheless an excellent draw during the summers.
But while wanting to squeeze more out of tourism will help, some certainly professionals believe Atlantic City should look for other opportunities for development too.
‘I’m all for wanting to increase the size of this non-gaming cake, however just hospitality and tourism,’ Deborah M. Figart, teacher of education and economics at the Richard Stockton College of brand New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that aren’t a single- or town that is two-industry those towns and cities have a tendency to prosper and prosper even yet in times of recession.’
Nevada Casinos Could Ban Smoking in Near Future
More casino areas are going smoke-free, and a total ban in Nevada casinos could be just around the corner. (Image: Mel Evans/AP)
In the old days of gambling, the public image of the casino floor ended up being one of smoke-filled tables and a cloudy haze through the halls. Throughout the years, that vision has largely changed: enter any major casino, and there will tend to be large swaths of smoke-free areas for patrons who does prefer a slightly more breathable gambling experience. Still, at the very least in Nevada, there has still been room for smokers and non-smokers alike.
But according to some analysts, that might be changing soon. Many states with casino gambling have previously outlawed smoking in gambling enterprises, and Macau is currently likely to implement a ban later this year. That and other signs have actually led Deutsche Bank gaming analyst Andrew Zarnett to predict that the cigarette smoking ban could come to Nevada in the next two years.
Zarnett cited a combination of the move by Macau, which could now be an industry trendsetter, as well as the study that is continued of problems of second-hand smoking as factors leading him to believe this type of ban might be coming sooner in the place of later.
Smoking Ban Could Be Expensive
But he also warned that such a ban could price Nevada casinos lot of cash. He pointed out that other states have experienced revenue that is significant after passing such laws within the past: Delaware’s casino profits fell 11.3 per cent 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 complete equivalent.
That might mean that such a ban wouldn’t be complete, and would still give smokers a location where they are able to sneak in several good puffs. In Macau, smoking cigarettes would still be permitted into the high-end areas where VIP gamblers congregate, and you will have smoking that is special 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 main airport areas, where smoking is forbidden.
The Macau ban will go into effect on 6, just after the Golden Week holiday ends october. Any smoking cigarettes areas which are built in gambling enterprises must take into account not even half for the gaming that is overall 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 gambling enterprises anywhere in their state, and there was no public groundswell to do so. https://aussie-pokies.club/lightning-link-pokies-review/ But even that it sounds like it could be if it were to happen, it may not be the shock to the system. In 2006, Nevada voters banned smoking in all public places other than casino floors. And some casino areas are usually smoke-free, including poker that is many and sports books. The entire World Series of Poker was played in an environment that is smoke-free year.
Even though those projections of major losings may be scary, not everyone agrees that smoking bans are directly related to casino profits.
‘Bad weather, gasoline rates, market saturation, competition, casino debt, the recession that began in 2008 that severely affected all video gaming revenues, including Vegas, would be the other cards missing using this deck,’ said Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the reason behind revenue decreases, rather, it’s poor business planning.’
And even if the casinos aren’t likely to place 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.’