Under the plans of new casinos in Pennsylvania and New York, Atlantic City might be the whirlwinds of an east coast casino rivalry. Since the recently posted record breaking revenues, it shows that it is on its way. Others believe that Atlantic City will triumph.
Earlier in the week, a conference was held by Trump Entertainment Resorts Inc. (DJTE) Chief Executive Officer James Perry. Here he spoke of concerns of out of state competition. New York and Pennsylvania are planning to create more casino games, such as video lottery terminals (VLT) and slot machines. Atlantic City casinos are also trying to install these types of games, in order to raise money, but they were rejected by New Jersey state legislators. Each state has their own rules, and New Jersey will hurt from this advantage that New York, and Pennsylvania currently posses.
Many casinos have been doing remodeling, such as in the case of the Borgata Hotel Casino & Spa, in 2003. This hotel had the highest revenues in the past month, from the twelve around the city. The New Jersey Casino Control Commission, believes that these twelve casinos together posted the highest revenues since gambling began in 1977, when it was legalized in New Jersey. |
