That has included investments in new hotel rooms, restaurants, entertainment and conference venues, and shopping and personal care amenities.Ī $100 million year-round water park is due to open this year, and Caesars Entertainment is adding a new entertainment venue and a Vegas-style residency show.Ī decision on who is awarded licenses to build the casinos is not expected until sometime later this year. Three new casino gambling licenses will be issued in the New York City area and one of the areas that could get a casino is Times Square.Ītlantic City has been trying for years to diversify its business model to make it less reliant on gambling. The casinos' key business, money won from in-person gamblers, 'has been going backwards or flat, depending on the property, since last May,' he said. That money must be shared with third-party providers and is not solely for the casinos to keep. Diversification of amenities and a focus on superior customer service for gamblers might offset the convenience of ‘local’ casinos in New York.'Īllen said the revenue numbers reported by the state each month give a misleading picture by including sports betting and internet gambling revenue. 'After all, millions of people who live within a short drive of casinos fly to Las Vegas every year. 'While it’s possible that one or more casinos could fold their tents and exit the market, there is also an opportunity for casinos to expand their offerings and give New Yorkers a reason to drive down to' Atlantic City, he said.

'There's no doubt it is going to have an impact on this particular market.' - Jim Allen, chairman of Hard Rock casinoĭavid Schwartz, a gambling historian with the University of Nevada Las Vegas, said a lot depends on how Atlantic City's nine casinos react to the new competition. 'The ones that don't will get right-sized or shut out of the market,' he said, adding 'this is going to be a very long process.' Here's what it could look like.Īt the same conference on Wednesday, several Wall Street analysts also predicted New York casinos will take a bite out of Atlantic City's business.ĭuane Bouligny, managing director at Wells Fargo said Atlantic City casinos that continue to invest in their businesses and have good leadership will grow.

The name and renderings for a potential casino, resort and entertainment venue on Coney Island were exclusively revealed on Good Day New York. Coney Island casino and resort: First look at name, renderings

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