Atlantic City turn around hinges on special district, public safety, year-round draw

Gaming analysts have some doubts about New Jersey Governor Chris Christie’s plans for Atlantic City. Christie wants to turn it into Las Vegas East.

Gaming analysts have some doubts about New Jersey Governor Chris Christie’s plans for Atlantic City. Christie wants to turn it into Las Vegas East.

Governor Christie wants to create a special casino and boardwalk district to convince investors and visitors the area is safe. That’s a good start says Grant Govertsen, an analyst with Las Vegas-based Union Gaming Research.

But Govertsen says Atlantic City casinos are losing revenues mostly because of the recession and competition from recently opened table games in Pennsylvania and Delaware.

Govertsen:
You should start seeing some pickup eventually with the return of broader economic recovery but you’re still going to get that negative impact from table games. We think the market falls another $400-million or so and levels off around $3.5-billion.

Govertsen says Atlantic City will always be more of a summertime destination.

To lure visitors year round, Mike Diamond at Spectrum Gaming Group says Atlantic City needs more non-gambling attractions.