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All bets are off in Atlantic City

Marketplace Staff Jul 6, 2006
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All bets are off in Atlantic City

Marketplace Staff Jul 6, 2006
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TEXT OF STORY

MARK AUSTIN THOMAS: The casinos are quiet again today. It’s day two of New Jersey’s statewide government shutdown. Operators of Atlantic City’s gambling palaces could be out as much as $100 million by the end of the weekend if this continues. Joel Rose has that story.


JOEL ROSE: Atlantic City’s dozen casinos can’t collect because the state employees who usually keep an eye on things have been furloughed. Industry experts say casino operators are losing $20 million a day in gambling revenue — and that’s only the beginning.

JOE WEINERT: There will be cancelled hotel rooms, under-attended entertainment events, restaurants that are only half-full, at best.

Joe Weinert is vice president of the Spectrum Gaming Group, an industry consultant. He says it’s too soon to put a dollar sign on all the ripple effects, but he warns they could be substantial. Especially if the dice don’t start to roll by this weekend.

WEINERT: Because a lot of patrons who want to get out and have a gambling experience are going to Foxwoods or Mohegan Sun in Southeastern Connecticut, particularly the New York area gamblers.

The two Indian casinos could be the big winners in the shutdown, Weinert says, particularly if one-time Atlantic City regulars find them more to their liking.

I’m Joel Rose for Marketplace.

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