Atlantic City’s Casino Industry is Hurting Badly

All casinos in the United States are officially shut down right now. It’s been devastating for many cities that rely on tourism and gambling revenue to operate normally. According to new reports, Atlantic City’s casino industry is losing an incredible amount of money every single day.

Sky View Of Atlantic City

It’s a tough time for this city, and many others around the country. Today, we’re going to discuss exactly how much money gambling venues in New Jersey are losing. We’ll also look at some other cities that are suffering due to casino shutdowns.

Let’s get into it!

Casinos Around the Country Are Still Shut Down

Just a few months ago, the US casino market was extremely strong. Many states were experiencing huge surges in gambling revenue and many new casinos were popping up around the country. Unfortunately, every single land-based casino in the United States is now officially closed due to the spread of Covid-19.

As this virus began to spread, more states started implementing tough regulations. Unsurprisingly, this involved closing down casinos. The entire US casino industry is now essentially closed down and it’s unclear when these gaming venues will open up again.

This is extremely troublesome for some parts of the country. Nevada, for example, is known to rely heavily on its gambling industry. All casinos in the state are now closed down and tourism into Las Vegas is the lowest it’s ever been.

It’s a very unusual time. Many US casino companies are losing a huge amount of money. Some expressed hope that Macau would help to make up for this revenue loss. Unfortunately, even Macau is seeing extremely low revenue earnings right now.

New Jersey has one of the biggest casino markets in the country. The casinos in Atlantic City draw in visitors from many nearby states. New reports are now shedding light on how much money these casinos are losing right now.

Atlantic City’s Casino Industry is Losing Millions Right Now

About a decade ago, Atlantic City was on the brink of collapse. The recession had taken a major toll on this city and several of the biggest gambling venues in the city were forced to close their doors. Since that time, Atlantic City has slowly recovered and has been posting incredible revenue figures for the past few months.

The legalization of sports betting certainly helped things. New Jersey was one of the first states to allow this form of gambling. Now, both online and land-based sports gambling options are available here.

Now, things are beginning to decline here once again. The new coronavirus has led to New Jersey closing down its gambling venues. Atlantic City’s casino industry is now losing millions of dollars every single day.

No one really knew how bad things were here. New reports are beginning to reveal the extent of these new regulations. They claim that this shutdown is costing casino companies in Atlantic City more than $500 million every single month.

Clyde Barrow, a professor at the University of Texas Rio Grande Valley, commented on how things are looking to the media this week.

“We haven’t seen it play out yet, but if you look at the economic numbers that are going to start coming out in the coming weeks, this portends to be a worse economic downturn than we even saw in the great recession,” he said. “It will be the biggest blow to the casino industry that we’ve seen in a lifetime.” 

Hopefully, things begin to improve before too long.

How Are Other Cities Doing With These Regulations?

A huge number of industries are being devastated right now. This includes the airline industry, which is in desperate need of government aid. Obviously, some cities are being affected more by the casino shutdown than others.

Las Vegas is probably being hit the hardest by these new regulations. This city is home to one of the largest gambling industries in the world. It relies on its tourism and gambling market and right now, these are basically non-existent.

No one knows when things will recover in Las Vegas. Some analysts believe the economy here will bounce back in a major way once these regulations are removed. Others think this entire situation will change the city forever.

Atlantic City’s casino industry isn’t the only one on the East Coast that’s hurting. Over in New York, all gambling venues are completely shut down. This state is now the epicenter of this virus outbreak and it seems unlikely that casinos here will open anytime soon.

It’s a very difficult time for the land-based gambling industry. We’re all waiting to see whether or not regulations will be extended.

Stay tuned for more Atlantic City casino news over the next few months!

Atlantic City Losing Upwards of 500 Million Dollars Per Month Amid Global Pandemic

Atlantic City Boardwalk at Night

Could you imagine walking into a casino, any casino in the world, and it just being empty? Caesar’s in Atlantic City would be a very strange casino to see completely desolate. Yet that’s exactly where we are.

The unfortunate outbreak of the COVID-19 virus has left hundreds of thousands of people unemployed across the world. In the US, where the virus has spread to be the worst country so far, we’re seeing a massive hit to the casino industry.

I won’t sit here and claim that casinos are an essential business. Still, it’s definitely cause for concern for these companies.

The Declining of Atlantic City

Since the state-regulated shutdowns started in early March, casinos around the globe are facing financial struggles. Atlantic City is now losing 540 million every month. These numbers are staggering, losses of which the casino industry as a whole as ever seen.

The big question floating around for everyone is, “will the industry bounce back?” 

With the amount being lost every month as high as it is, it does seem hard to imagine scenarios where Atlantic City casinos would be able to bounce back from this. However, I’m not saying that it can’t happen.

A professor at the University of Texas Rio Grande had this to say during an interview with New York Post:

“We haven’t seen it play out yet, but if you look at the economic numbers that are going to start coming out in the coming weeks, this portends to be a worse economic downturn than we even saw in the great recession.”

Unemployment All-Time High

With all the casinos being closed, obviously, that leaves thousands of workers in the casino industry without jobs during this time. 

Currently, there are 26,000 people from the Atlantic City casino industry that are out of work.

Unemployment across the entire US is hitting some of the highest numbers that the country has ever seen. It’s tough seeing the casino industry going through this, but they are definitely not the only ones affected. 

The Wrap Up

Atlantic City is a beautiful area with great people and tourists that flock from all over. Even though some tough times are being gone through right now, I have high hopes that they will bounce back from this stronger than ever.

What do you guys think? How has the COVID-19 virus outbreak affected you? Please let me know in the comments below.

And also, be sure to check back often and be on the lookout for more news from me and my friends here at

Atlantic City Mayor Says He Wants NBA in His City Post Coronavirus

Boardwalk Hall in Atlantic CityOn Tuesday, Atlantic City Mayor Marty Small Sr. says he’s trying to lure the NBA to return to the city after the coronavirus pandemic is over.

While that’s wishful thinking, given the current state of NBA’s entire season being canceled during the COVID-19 crisis, it would give AC residents something to look forward to during these challenging times if the Mayor’s wishes were fulfilled.

“It is my goal to recruit and bring people here,” Small Sr. said during a Facebook Livestream. “We are trying to work that out and bring the NBA here once things settle down a little bit. There is a possibility that once things are back to normal that the NBA could be playing some of its games at Boardwalk Hall.”

Boardwalk Hall Would Serve as Location for Games

Mayor Small Sr. kept pretty mums about the depth of these talks with the National Basketball Association, and it’s unsure whether he’s been in direct contact with league officials or the extent to which these conversations have progressed.

But, Boardwalk Hall is the recommended location that the NBA would play their games at, should the league choose to return to Atlantic City.

NBA Season Suspended Since Mid-March

On March 11, the NBA suspended its season. The decision came quickly once Utah Jazz All-Star Rudy Gobert tested positive for coronavirus. When news broke out on this, it prompted a sports world shutdown and 58 other members of the organization to get tested.

The NBA was the first of the major professional sports leagues to cancel their season. The very next day, the NHL, MLB, MLS, U.S. Soccer, and multiple tennis associations followed suit and suspended their seasons as well.

March is a highly anticipated time for basketball lovers, with both the NCAA championships and March Madness. Once NCAA was subsequently canceled, they gave the following statement:

“This decision is based on the evolving COVID-19 public health threat, our ability to ensure the events do not contribute to the spread of the pandemic, and the impracticality of hosting such events at any time during this academic year given ongoing decisions by other entities.”

Why More NBA Players Are Testing Positive for COVID-19

The thinking behind this is that since basketball was having its regular season going during the virus outbreak, more players were in direct contact with the general public, as well as other people who are affiliated with the league.

But, the same logic can be applied to anyone who regularly frequented packed places, like the New York City subway or a busy airport.

So far, these NBA players, members, or teams have announced positive tests for COVID-19:

  • Marcus Smart, of the Boston Celtics
  • Kevin Durant, of the Brooklyn Nets
  • A member of the Denver Nuggets
  • Christian Wood, of the Detroit Pistons
  • Two players from the Los Angeles Lakers
  • Three members from the Philadelphia 76ers
  • Donovan Mitchell, of the Utah Jazz

Officials Considering Single-Site, Fan-less, 16-Team Playoff to Happen in a “Neutral City”

According to the New York Post, the league is looking into having a “one-site, fan-less, 16-team playoff and a five-to-seven-game regular-season prelude.”

This seems to be the NBA’s current plan given the current pandemic and utilizing one, fan-less site would create more of a television-only event, which would more properly adhere to current social distancing guidelines.

Considering their current plan, Atlantic City would fit the bill as an ideal host city for the tournament. For one, there’s plenty of hotel space that can be used for the teams, and the city itself is close to major television headquarters, which would make finding production labor an easier task.

Atlantic City is also close to the league’s headquarters, which is in New York. Other locations that are under consideration for the tournament are Las Vegas, Louisville, Orlando, and Hawaii.

Stay Tuned

It’s unclear what the remainder of the sports season will look like during the worsening pandemic, but it’s interesting to think about what the NBA might look like should they decide to resume their season.

It’s hard to tell with an everchanging situation of this magnitude. We can only hope that athletes stay healthy during this period and come back even stronger once the curve flattens. Stay tuned for more news.

AGA Comments on Atlantic City Casino Shutdowns

For the past few years, Atlantic City has once again emerged as one of the gambling hubs of the United States. New Jersey is profiting heavily from the revenue earned from this industry. Unfortunately, the AGA believes new Atlantic City casino shutdowns will take a serious toll on the economy.Sky View Of Atlantic City

It’s an extremely tough time for the land-based casino industry around the United States. No one knows when things will begin to improve, either. Today, we’re going to look at what the AGA is saying to expect.

Let’s get into it!

New Jersey’s Coronavirus Rates Are Increasing

For reasons unknown, the media seems to be reporting that New York and California are the two epicenters of the coronavirus outbreaks in the United States. In reality, though, New Jersey has the second-most infections in the country at 2,844. This trend is increasing and every day hundreds of new cases are reported in this state.

It’s not entirely surprising. New York City is experiencing an incredible surge in cases right now. New Jersey is right next door and is seeing infection rates increase rapidly.

Lawmakers in this state are trying desperately to slow this down. Unfortunately, reports indicate that the state’s testing sites are reaching capacity before even opening to the public. Governor Phil Murphy claims this isn’t a surprise and expects to see many more cases emerge over the next week.

Every state is coming up with new regulations to deal with these issues. Stay-at-home orders are now being seen around the country. Many businesses have been forced to close down, as well. Unfortunately, this is taking a serious toll on the land-based casino industry in many states including Nevada.

The gambling industry in New Jersey is taking a hit, too. Here, all casinos have been forced to close down. Some analysts are now trying to decide how long is too long for these gambling venues to be closed.

Atlantic City Casino Shutdowns Will Result in Major Economic Losses

For a time, it looked as if Atlantic City may emerge as the country’s biggest gambling destination. This city drew in a huge number of gamblers from the East Coast and revenue here continued to increase. As infection rates began to increase in New Jersey, lawmakers finally decided it was time for the state’s casinos to close to the public.

The American Gaming Association has been trying to warn Congress about the impact of these casino closures. This group represents casino owners across the country. It’s been warning about the impact these new regulations will have on cities like Las Vegas, which relies heavily on its casino industry.

This week, the AGA released a statement about the Atlantic City casino shutdowns. According to the group, this will end up affecting millions of people around the state.

“The impact on our employees, their families and communities is staggering, and the implications extend far beyond the casino floor,” said Bill Miller, president and CEO of the AGA. “Gaming is an economic engine, employing millions of local residents, generating community investment through vital tax revenue, and supporting small businesses in communities all across the country.” 

The AGA later went on to claim this will cost New Jersey $1.1 billion in economic losses. This is clearly a tough time for casino operators here. We won’t know the true impact this casino shutdown will cost for at least a few months.

US Online Casino Industry Continues to Surge

Covid-19 isn’t slowing down. Europe remains the epicenter of the pandemic, yet infection rates in the United States have been increasing rapidly. Soon, it’s likely that more cases will be recorded here than any other nation.

Recent reports claim that more than 90% of all land-based casinos in the country are shut down. This includes all of the ones in Las Vegas. The Atlantic City casino shutdowns prove that the land-based gaming industry in this country is hurting.

Many people are now choosing to play through online casino sites in the US. Most of these sites are available in every single state. The majority of them offer more gambling options than the biggest brick-and-mortar casinos in the country, too.

It’s unlikely that normal casinos will open anytime soon. Many major casino companies are now asking for emergency relief from Congress. While these venues are shut down, the online casino industry is growing more popular.

This is a constantly-evolving situation. New updates are being reported every few minutes. Hopefully, health officials are able to put a stop to this pandemic before things become too severe.

Stay tuned for more US casino news over the next few weeks!

Hard Rock Atlantic City Postpones Live Performances Until April

Hard Rock Hotel & Casino Atlantic City Guitar SIgnIn a continued trend, Hard Rock Hotel & Casino in Atlantic City pulls the plug on their live shows at Hard Rock Live at Etess Arena, Sound Waves and Howie Mandel’s Comedy Club due to the coronavirus outbreak.

But don’t worry, the live shows will go on. They’re scheduled to return after April 15.

DAER Nightclub will also suspend their operations until further notice.

According to Joe Lupo, Hard Rock’s president, the cancellations echo “national concern over the spread of COVID-19/coronavirus.”

Scheduled performers affected by the postponement include Adam Sandler, Pitbull and Christopher Cross, Neha Kakkar and more.

The official announcement asked ticket holders to hang onto their tickets while they determine future show dates. For shows that end up being canceled indefinitely, the company assured that refunds will be “issued at point of initial purchase for shows canceled or for those unable to attend a future postponed show.

Affected Events in Atlantic City Area

Governor Phil Murphy recommended on Thursday that events held in New Jersey, such as concerts, parades, and sporting events, that expect to have 250 or more people be canceled in an effort to “flatten the curve” of coronavirus cases.

Here is a list of larger events in the Atlantic City area that have been canceled or postponed on account of COVID-19:

  • Atlantic City St.Patrick’s Day Parade, scheduled for March 14 at 1 pm, canceled
  • Project Prom at Kensington Furniture in Northfield, scheduled to run Saturday, Sunday and Monday, canceled
  • ‘Guys and Dolls’ at Holy Spirit High School dress rehearsal, scheduled for Sunday, canceled
  • 98 Degrees show, scheduled for April 18 at Caesars Atlantic City Hotel & Casino, postponed to July 11
  • The Atlantic City Boardwalk Committee Meeting, scheduled for March 18, canceled
  • The Wildwoods Spring Bridal Expo, scheduled for March 15, postponed to an unknown future date
  • Previously announced public events at Stockton University that have since been canceled:
    • March 14: Pinelands Short Course at Galloway campus
    • March 14: Aunt Mary Pat at Dante Hall in Atlantic City
    • March 15: Lines on the Pines at the Galloway campus
    • March 22: Bay Atlantic Symphony at the Performing Arts Center
    • March 24: Cape Atlantic Regional College Fair
    • March 27: The Byrne Brothers at the Performing Arts Center
    • March 28: Pirates of Penzance at the Performing Arts Center
    • April 2: Stockton Chamber Players at the Performing Arts Center
    • April 3: Think Pink Floyd at the Performing Arts Center
    • All Spring Break athletic field trips

Atlantic City Celebrates Best Casino Revenue for February Since 2011

Atlantic City Sign on Casino BuildingLast month, Atlantic City’s nine casinos brought in a whopping $275.1 million in total gaming revenue, an 18.4% over last February’s numbers. These figures were gathered from the state Division of Gaming Enforcement.

Atlantic City continues on its astonishing 21 consecutive reporting period hot streak of monthly revenue increases. The growth period started nearly two years ago in June when Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort reopened their doors.

“Atlantic City reported strong results in February, which were aided by the calendar with its rare fifth Saturday,” said James Plousis, Casino Control Commission Chairman. “Revenue from slots, table games, internet wagering and sports wagering all grew. Internet wagering results were prominent, and the sports wagering handle already surpassed $1 billion for the year. These gaming options are providing important revenue streams while broadening the industry’s appeal.”

The Strongest February in Nearly a Decade

Last month’s results were the strongest for February in Atlantic City since 2011. In 2011, 11 casinos were in full swing, as compared to the nine currently operating in today’s Atlantic City.

According to Rummy Pandit, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University, says the milder weather and efforts of city businesses to feature more on-site resort entertainment are among the biggest factors in increased visitation and revenue.

“The wintry weather that likely suppressed visitation, and in-turn land-based gaming revenues, in past years was not as much a factor in February 2020,” Pandit said. “The especially mild weather, and efforts by city businesses to bring more shoulder season entertainment to the resort, has led to increases in visitation.”

Ocean Casino Reports Largest Monthly Increase

Ocean casino saw the largest monthly revenue increase in February of the city’s nine properties. The resort took home $20.77 million in casino win, that’s a 51% increase from February 2019’s numbers.

This time last year, Ocean was changing ownership and leadership.

Ocean’s CEO, Terry Glebocki, said the second month of the year was an “incredibly strong month for the property” and said that slot business was up an incredible 88%.

Glebocki, the only woman chief executive officer of an Atlantic City casino, was officially named CEO last December. She worked hard to listen to AC customers’ concerns and address their needs.

“The property had a history of being tone-deaf to most A.C. customers and we’ve overcome that,” Glebocki said. “We were voted No. 1 casino in A.C. (in 2019 by Atlantic City Press) for best rooms, best comps and best players clubs. That’s because of what we stand for, giving people a fair deal.”

Ocean recently revamped their property, including revitalizing their dining options, creating a convenient new elevator bank that offers direct access from the hotel level to the casino level, and opening up their new Exhale Spa + Bathhouse, which was voted the top spa in New Jersey by Spas of America.

Online Gambling is a Safeguard for Coronavirus

While Atlantic City continues to see an uptick in their casino revenue, property owners are well aware of the toll COVID-19 could cause on the gaming industry, and how the impact could reach their shores.

Their strategy is to use online betting as a viable safeguard, should on-site gambling get impacted negatively.

The great news is that online betting is also up in the state and experienced a boost in February as well. Internet gaming revenue for February was $52 million, an increase of 63.7% over this time last year.

“Online casinos and sportsbooks should help buoy their land-based casino counterparts in Atlantic City should the coronavirus impact casino operations,” said Eric Ramsey, analyst for “The Golden Nugget’s online casino already generates more revenue than its retail casino, and others have been closing the gap. That online revenue stream could prove vitally important in the coming months.”

Should the situation with the coronavirus outbreak get worse, online betting will be looked to more than ever as a buffer to get the industry through trying times.

“New Jersey’s year-over-year gains remained impressive in February, but we are in uncharted territory now,” said Dustin Gouker, lead analyst for “Obviously there are bigger concerns with coronavirus, but the NBA is a major revenue driver for New Jersey’s sportsbooks. So the suspension of the season, in addition to suspensions of other sports, will undoubtedly have a significant effect.”

Stay tuned to see if casino gaming revenue continues on its upward trajectory in Atlantic City, or if New Jersey will get impacted by the coronavirus in the coming month.

Officials Push to Demolish Former Trump Casino

Atlantic City now has one of the strongest gambling markets in the United States. Since 2018, revenue from this state’s gaming industry has increased. Recently, a push to demolish the former Trump casino was presented by city officials.

Trump Plaza Casino

This idea has been presented in the past. For reasons unknown, this venue is still standing. Today, we’re going to look at what city officials are pushing for. We’ll also talk about the effect that the coronavirus is having on New Jersey.

Let’s get into it!

Atlantic City is One Again a US Gambling Hub

For decades, Atlantic City was one of the world’s premier gambling destinations. It drew in people from all around the world. A huge number of world-class gambling venues operated here, many of which put on exciting shows every week.

Things began to change during the late 2010s. In 2008, the recession began to take hold and the US economy was beginning to suffer. Unsurprisingly, this led to a significant decrease in tourism to Atlantic City.

Many of the casinos here were forced to close their doors. Some never opened again. It wasn’t until about a decade later that things began to really turn around.

In May of 2018, the Supreme Court struck down PASPA, allowing every state to set its own laws on sports gambling. New Jersey quickly legalized this industry and before long, every casino in Atlantic City began offering sports betting options. Many believe this helped to bring new life to the city.

Revenue began pouring in. Tourism rates started to increase and now, Atlantic City is one of the most profitable gambling destinations in the country. Officials are now beginning to call for old casinos no longer operating to be torn down.

The Push to Demolish Former Trump Casino Continues

As most already know, Donald Trump operated a hospitality and gaming company prior to becoming president. This company, called Trump Entertainment Resorts, opened the Trump Plaza Hotel in May of 1984. It was located on the Boardwalk in Atlantic City and quickly became one of the most popular venues in the city.

Throughout the 90s, this venue began losing revenue. The hotel-casino eventually went into debt and by 2004, it was forced to permanently close down. Billionaire Carl Icahn eventually bought the land that the closed casino sits on yet nothing has taken place here.

It appears this is going to change soon. This week, city officials officially asked a judge to order that the former Trump casino be closed down. They argue this venue is now a safety hazard, as several pieces of the venue have recently broken off and fallen to the ground.

Interestingly, Carl Icahn is claiming he’s already decided to demolish the building. For that reason, the steps that city officials are taking are unnecessary. Hunter Gary, president of real estate for Icahn Enterprises, spoke about this to the media this week.

“We are puzzled by the city’s action,” he said. “In fact, we already decided to demolish the building, and have commenced the process, including finalizing contracts. If the mayor had simply called us instead of holding a press conference, we could have updated him as well.”

It seems that this famous hotel-casino will soon be torn down. We’ll need to wait and see if the judge decides to act before Icahn takes things into his own hands.

Is the Coronavirus Affecting Atlantic City?

As of March 12th, Covid-19 has now infected more than 1,500 individuals around the US and has killed thousands of people worldwide. Obviously, fear is growing that this will significantly affect the US economy. The stock market has already taken a major hit and many are curious how the country’s gambling industry will be impacted.

Things have been going very well in Atlantic City for the past few years. In fact, revenue has increased almost every single month! According to new figures, revenue here went up significantly in 2020 compared to 2019.

Many analysts don’t feel this will last in March. The US population is only now beginning to understand how serious of an issue this really is. As more people become infected, less will want to visit crowded areas such as casinos.

We won’t know exactly how this city is affected until early next month. By then, new revenue figures will become available. If things continue to get worse, perhaps it will be months before the former Trump casino is actually torn down.

This is an important time for gambling operators. Stay tuned for updates on the US casino industry over the next few months!

Atlantic City’s Borgota Not Impacted by MGM Computer Hack

Cyber Security Sign, Hand on Digital PadlockOn Feb. 19, media reports revealed that a data breach that infiltrated MGM Resorts’ cloud server last summer left the personal information of more than 10 million guests compromised. The approximate number of guests affected were 10,683,188, according to ZDNet.

“Last summer, we discovered unauthorized access to a cloud server that contained a limited amount of information for certain previous guests of MGM Resorts,” company officials of MGM said. “We are confident that no financial, payment card or password data was involved in this matter.”

According to LifeLock, an Arizona-based identity theft protection company, advised that the personal information that was leaked in the breach included names, birth dates, home addresses, phone numbers, driver’s license, passport information, and email addresses.

Of those whose data was comprised, notable people include Twitter CEO Jack Dorsey and singer Justin Bieber, among other celebrities, reporters, tech employees, and government officials.

While the breach touched a significant amount of MGM International’s guests, luckily, no guest information from MGM’s Atlantic City property, Borgata Hotel Casino & Spa, was accessed, according to a spokeswoman for Borgata.

Since the breach, MGM has stated that they’ve “strengthened and enhanced the security of our network to prevent this from happening again.”

5 Steps to Take for Affected Guests

For guests who were affected by the breach, an article by CNBC offered five useful security measures for them to take:

Change your passwords

According to PCI Pal, 47% of Americans use the same passwords frequently, which is especially troublesome in the event of a data breach. Utilizing a program managers like LastPass can allow those affected to create unique passwords for separate accounts, while easily keeping them managed.

Set up credit monitoring

Monitoring your credit will allow you to spot any discrepancies in a timely manner, and provide a comprehensive look into your credit history and activity.

Practice good cybersecurity habits

Email is an easy way for hackers to gain access to credit card information or someone’s identity. Hackers set up “phishing” emails that include links designed to get people to click on them. Once someone clicks on them, it allows the hacker access to critical points of their online life.

Keep a record of your response

Consumers who received a breach notification should keep that notification stored away somewhere safely. Should that breach result in a settlement, it will be helpful to have the notification on hand.

Stay alert

The best response in the case of a data breach is to remain watchful over your accounts and personal information. Some static pieces of information, like social security numbers or home addresses, may be used by hackers at a later time.

About Borgata Hotel Casino & Spa

Borgata Hotel Casino & Spa first opened its doors in Atlantic City in 2003, igniting the city’s revival as the first new hotel property that, at the time, opened in 13 years. It includes 2,000 chic rooms and is located at Renaissance Pointe. From their official website:

At Borgata Hotel Casino & Spa, guests can enjoy luxurious hotel accommodations, an expansive selection of casino & poker games, world class restaurants from Iron Chefs Wolfgang Puck, Bobby Flay, Michael Symon, and Michael Schulson, thrilling entertainment and nightlife, an award-winning spa and more. Borgata strives to present guests with the best hotel and casino experience in Atlantic City, NJ.

About MGM Resorts

MGM Resorts International is a publicly traded, American global hospitality and entertainment company. Its portfolio includes 30 unique hotel destinations through the US and China. MGM Resorts features “best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings.”

Ocean Resort CEO Reflects on Property’s Progress and Future Plans

Ocean Resort Casino, Atlantic CityLong before it was Ocean Resort Casino, the property was known as Revel, and it had a reputation of being the white elephant of the Atlantic City boardwalk. But why? According to Atlantic City and Philadelphia developer and nearby Showboat Casino owner, Bart Blatstein, it’s the “worst-designed building” he’s ever seen.

“There are so many reasons it failed. How can you have a casino on the Boardwalk and not be able to enter it from there?” questioned Blatstein.

It cost $2.4 billion to build the oddly designed casino, which features a hotel lobby on the 11th floor and casino on the sixth floor. When it finally shut its doors in September 2014, investors weren’t flocking to buy it.

Finally, in January 2018, AC Ocean Walk took a leap of faith and bought the property for a cool $200 million, renaming it Ocean Resort Casino.

Considering its difficult rise to claim Atlantic City acceptance and its inherent architectural issues, it made the revival process a difficult one, but one Ocean Resort CEO Terry Glebocki was willing to fight for.

“The property had a history of being tone deaf to most A.C. customers and we’ve overcome that,” Glebocki said. “We were voted No. 1 casino in A.C. (in 2019 by Atlantic City Press) for best rooms, best comps and best players clubs. That’s because of what we stand for, giving people a fair deal.”

Ocean Revamps their Property

Because of the property’s historical reluctance to prioritize the guest experience, Glebocki made sure to find ways to give guests what they actually want by being mindful of details and what the property has to uniquely offer that you can’t get elsewhere in Atlantic City.

Since the property reopened in June 2018, major forward changes have been made. For one, the current vibe is a lot hipper, and more relaxed. It’s also been transformed into a family-friendly resort.

She also figured out a way to adapt to the property’s unconventional architecture, making for a more seamless transition for guests to get from the hotel lobby to the casino floor, and vice versa.

“Our new elevator bank offers direct access from the hotel level to the casino level, two new elevators now lead guests from the hotel lobby to the casino floor. Customers previously had to take an escalator or elevator that was not near the hotel tower.

Glebocki also diversified the resort’s available dining options, offering up casual restaurants alongside the number of upscale restaurants to balance the mix, giving their variety of guests more freedom to choose what they can eat on-site.

The property has also significantly increased event bookings at their Ovations Hall, with 42 dates booked in 2019, and their rentable beachfront space, which has been a popular space for summer events.

The real winning addition to the property, however, is their Exhale Spa + Bathhouse, being touted as a “tranquil oasis.” According to Glebocki, “Exhale was recently voted the top spa in New Jersey by Spas of America. What sets us apart from our competition is our Turkish style co-ed bathhouse and Himalayan Salt Grotto.”

Plans for the Property in 2020

Atlantic City’s trailblazing CEO will be planning more changes for the property in 2020:

“We will be enhancing and adding new gaming experiences for our guests,” Glebocki said. “We are planning a major investment in a new high-limit slot experience that will position Ocean as a premier gaming destination in Atlantic City. We are also in conversations with our business partners in providing even more amenities and services that will wow our guests.”

About Terry Glebocki

Glebocki is a Lehigh University alum who served as vice president of finance for a few of Donald Trump’s Atlantic City casinos for 23 years. She served in the same capacity at Revel, beginning in 2007, before being promoted to chief financial officer of the company five years later in 2013.

In February 2019, she was appointed as Ocean’s chief financial officer. Last August, she served as the interim CEO after the property’s previous CEO, Eric Matejevich, stepped down. In December, she was named the official CEO of Ocean Resort Casino.

Glebocki is currently the only woman chief executive officer of an Atlantic City casino.

Caesars-Eldorado Merger Deal Pending New Jersey’s Approval

Ariel View of Atlantic CityThe $17.3 billion merger between Caesars Entertainment Corp. and Eldorado Resorts Inc. is still dependent on approval from 14 state regulatory agencies and the Federal Trade Commission, including New Jersey.

So far, four state regulatory bodies have approved of the merger, including Pennsylvania, Louisiana, Iowa and Illinois.

The merger will grant Eldorado Resorts control of close to 60 casinos in the country. While no explicit deadline for New Jersey regulators to make an approval decision on the merger decision has been set, gaming operators expect a deal finalization within the first half of 2020.

One reason New Jersey could be delaying approval are concerns they’ve cited over the economic concentration the deal would cause in the state, and Atlantic City turning into something of a monopoly.

Dan Heneghan, former public information officer for the Casino Control Commission (now retired) and former casino beat reporter for The Press of Atlantic City, said state gaming regulators are “concerned about economic concentration in the casino industry for many of the same reasons that the (federal) Justice Department is concerned about monopolies in industry in general.”

“If you have a monopoly, or something close to a monopoly, there’s always the concern that the big player can effectively set prices,” Heneghan said.

Back in September, Caesars Entertainment and Eldorado Resorts presented a joint petition to NJ regulators, and stated their intentions of providing an economic analysis that would disprove their merger would cause an undue economic concentration.

New Jersey and Atlantic City Play Major Role in Deal

Since the newly formed company will control nearly half of the resort’s casinos (four out of the nine total casinos), New Jersey and AC will play a major role in the deal. Under its current designations, the company merger will employ 40% of casino industry workers in Atlantic City and represent almost 37% of their total gaming revenue.

Currently, Caesars Entertainment has three outstanding deed restrictions on former casino properties. Those include the former Atlantic Club Casino Hotel, the Claridge Hotel and the Showboat Hotel Atlantic City. These restrictions disallow them to operate as gaming parlors and adds some stress to the current deal.

The Attorney General’s Office, who advised that New Jersey gaming regulators would also be retaining an expert, said this in an email:

“As required by law, the Division is responsible for ensuring the honesty, integrity and financial stability of casino licensees. Part of this process is analyzing the economic impact of casino acquisitions such as the Eldorado / Caesars merger. As part of this process the Division has retained an economic expert to assist with the review of this merger.”

About the Caesars-Eldorado Merger Deal

Eldorado Resorts $17.3 billion acquisition of Caesars Entertainment is slated to become the world’s largest casino operator in terms of gaming assets. To acquire 51% of Caesars, Eldorado will pay $7.2 billion in cash and 77 million shares of stock, as well as taking on Caesars’ existing debt.

Upon regulatory approval, Caesars will merge with Eldorado subsidiary Colt Merger Sub Inc and a new, wholly owned Eldorado subsidiary will exist and operate under the Caesars name.