Panelists said the construction of three new casinos in New York could cost New Jersey 20% to 30% of its casino revenue, a development that could possibly return the destination to the days of casino closures. I don’t think that changes with the construction of Pennsylvania casinos and casinos throughout the other states that have been legalized in the past few decades.” “I don’t think that changes with the construction of New York casinos. “We’ve always been a destination city,” said Michael Monty, general manager of Bally’s Atlantic City, as reported by The Press of Atlantic City. Concerns linger that, with Atlantic City casino revenues flat and costs rising from inflation, gambling stemming from NY could further cut into their profits. Gaming executives believe stepping up the city’s game might be the most effective way to address fears of profits lost to emerging gambling venues in the Big Apple, with NY eyeing up to three casino licenses for the downtown area.Ī panel of executives hosted by the Greater Atlantic City Chamber at Stockton University’s City Campus suggested that investments might be an effective way to fend off competition. Investments in Atlantic City are a “must” as New York casinos loom, experts at a New Jersey gaming panel agreed last week.
