In his latest column for Casinos.com, iGaming industry veteran Chuck Darrow discusses the potential impact New York City casinos will have on Atlantic City.
Below is an excerpt from Chuck’s article:
From the moment Resorts opened its doors on May 26, 1978, the New York City / Northern New Jersey region has been a crucial “feeder market” for Atlantic City’s gaming industry.
Jim Allen, Chairman/CEO of Hard Rock, one of the town’s most successful properties, has estimated that the southern and western parts of the New York metro area are responsible for 20% to 30% of AC’s brick-and-mortar revenue.
There is currently a good degree of justifiable fear and paranoia in Atlantic City caused by the looming introduction of up to three casinos in New York City.
A number of top gaming entities, including three – Hard Rock, Caesars Entertainment (which is partnering with Roc Nation, rap titan Jay Z’s entertainment conglomerate) and Bally’s – that operate in Atlantic City are staking claims on various sites in Manhattan as well as the “outer” boroughs, Yonkers and Long Island.
Some want to build opulent pleasure domes that will likely out-glitz anything Atlantic City has to offer.
Expert: Are New York City Casinos a Real Threat to Atlantic City’s Survival?
According to a recent article in the New York Post: each and every project submitted for NYC municipal approval is facing some degree of pushback that apparently casts legitimate doubts on their ability to be approved.
The New York City area is going to get at least one—and likely three—casinos that could conceivably impact Atlantic City’s gambling operations; the worst-case scenario put forth by some insiders and observers is that as many as three AC casinos could be forced out of business.
But that’s not happening anytime soon. A number of potentially contentious license-approval hearings await the New York hopefuls.
Read full Chuck Darrow story at Casinos.com.
About writer Chuck Darrow: Award-winning entertainment writer/columnist who has specialized in the gaming industry for decades. His experience covering Atlantic City’s casino scene is unsurpassed. He was the first (and only) full-time casino-beat writer at the Philadelphia Daily News, and prior to that, for some 15 years, his weekly Atlantic City casino column had a syndicated circulation of almost one million. His knowledge of—and passion for—the town’s gaming scene has earned him the nickname “Boardwalk Charlie”.