Why Is Gambling Legal In Atlantic City

A time few could imagine during the not-too-distant glory days of casino gambling has arrived in Atlantic City, where two casinos will close this weekend and a third will shut down in two weeks.

It is only the second casino to close for good since the state legalized gambling in Atlantic City. Jersey's first legal gaming hall. Free Keno Game Online Keno is one of the most popular games for newbies and experienced players alike, thanks to its easy rules and relaxed gameplay. It is also easy to learn and understand – if you know a thing or two about playing the lottery, you will have a good understanding of how keno. Many entrepreneurs visit casinos around the world as a way to get away from the hustle and bustle of running a business. It pays to know the laws of the countries you are visiting so at the Energy. Atlantic City, often known by its initials A.C., is a coastal resort city in Atlantic County, New Jersey, United States, known for its casinos, boardwalk, and beaches. In 2010, the city had a population of 39,558. It was incorporated on May 1, 1854, from portions of Egg Harbor Township. Our Atlantic City online gambling guide is full of valuable information for NJ players, including where to find legal online gambling in Atlantic City.

More than 5,000 workers will lose their jobs in an unprecedented weekend in the seaside gambling resort, leaving many feeling betrayed by a system that once promised stable, well-paying jobs.

The Showboat is closing Sunday, followed by Revel on Monday and Tuesday. Trump Plaza is next, closing Sept. 16. To the thousands who will be left behind, it still seems unreal.

'We never thought this would happen,' said Chris Ireland, who has been a bartender at the Showboat since it opened. His wife works there, too, as a cocktail server. Before dinnertime Sunday, neither will have a job.

What makes it even tougher to swallow is that the Showboat — one of four Atlantic City casinos owned by Caesars Entertainment — is still turning a profit. But the company says it is closing Showboat to help reduce the total number of casinos in Atlantic City. Caesars also teamed with Tropicana Entertainment to buy the Atlantic Club last December and close it in January.

'They just want to eliminate competition,' Ireland said. 'Everyone's in favor of a free market until it doesn't exactly work for them.'

Yet many analysts and casino executives say the painful contraction now shrinking Atlantic City's casino market is exactly what the city needs to survive. Since 2006, Atlantic City's casino revenue has fallen from $5.2 billion to $2.86 billion last year, and it will fall further this year. Atlantic City will end the year with eight casinos after beginning the year with 12.

New casinos popping up in an already saturated Northeastern U.S. gambling market aren't expanding the overall pie but are slicing it into ever-smaller pieces. Fewer casinos could mean better financial performance for the survivors.

Resorts Casino Hotel, which was on the verge of closing a few years ago, completed a remarkable turnaround in the second quarter of this year, swinging from a $1.3 million loss last year to a $1.9 million profit this year.

'I truly believe that eight remaining casinos can all do very well when the gambling market is right-sized,' said Resorts president Mark Giannantonio.

That may be true, but it is little comfort to workers who are losing their jobs. By the time Trump Plaza shuts down in two weeks, nearly 8,000 jobs — or a quarter of Atlantic City's casino workforce — will be unemployed. A mass unemployment filing due to begin Wednesday is so large it has been booked into the city's convention center.

When casino gambling was approved by New Jersey voters in 1976, it was billed as a way to revitalize Atlantic City and provide stable, lasting jobs. The first casino, Resorts, opened in 1978, kicking off three decades of soaring revenue and employment.

But the Great Recession hit just as new casinos were popping up in neighboring Pennsylvania and New York, cutting deeply into Atlantic City's customer base.

'There was a promise when casinos came in here that these would be good, viable jobs, something you could raise your family on and have a decent life with,' said Paul Smith, a cook at the Trump Taj Mahal Casino Resort. 'I feel so bad for all these people losing their jobs. It wasn't supposed to be like this.'

Mayor Don Guardian says his city is remaking itself as a more multifaceted destination, where gambling is only part of the allure. But he acknowledges the pain this weekend will bring.

'This is going to be a difficult few weeks for many of us in Atlantic City,' he said. 'People will lose their jobs, and that is never good news. Our hearts go out to our neighbors and friends. We still have difficult waters to navigate.'

Fitch Ratings predicted in a recent report that the city's casino revenues will decline to $2.5 billion in 2015 from last year's $2.86 billion. It also said it does not see any more casinos closing in Atlantic City for at least the next two years.

The firm also predicted that a good chunk of the money being won by the Showboat, Revel and Trump Plaza will go to the surviving Atlantic City casinos. Showboat and Revel are closing this weekend; Trump Plaza shuts down Sept. 16. After that, Atlantic City will have eight casinos after starting the year with 12.

Fitch predicted at least 50 percent of Revel's revenue will go to the remaining casinos, judging by increases that the Tropicana Casino and Resort and the Golden Nugget Atlantic City have seen since the Atlantic Club closed down in January.

A day before the report was issued, Joe Lupo, senior vice president of the Borgata Hotel Casino & Spa, Atlantic City's top casino, said the market is already responding positively to reduced capacity.

'After the Atlantic Club closed, places like the Tropicana and the Golden Nugget are doing very well, and we had a great summer,' he said. 'While Revel has had a very difficult time, you have properties in Atlantic City that will become more profitable.'

Fitch also predicted 60 percent of Trump Plaza's revenue and 75 percent of Showboat's revenue will stay in Atlantic City, particularly with Showboat's parent company, Caesars Entertainment, also owning three other casinos that will continue to operate in Atlantic City.

Caesars said Friday that more than 470 Showboat employees have gotten jobs with other casinos the company owns, here or in other states. That figure represents about half the number who had applied for new jobs elsewhere in the company. The Showboat has more than 2,000 workers.

Fitch said the three Marina District casinos — the Borgata, Harrah's and the Golden Nugget — may benefit more than the Boardwalk casinos because the marina properties are 'the freshest' after major renovations in the last 10 years and because boardwalk activities are dwindling.

But it also predicted the Taj Mahal, Caesars and Bally's will get more business.

'Most of the closings are at the ends of the Boardwalk, leaving a cluster of remaining casinos (including Taj Mahal, Caesars and Bally's) that should see a sizable lift in business from the closures,' the company wrote.

Fitch also noted some positives for Atlantic City, including an 8 percent casino tax and diverse entertainment options.

'Atlantic City remains one of the few places in the populous tri-state area to offer a full suite of eat, play and stay options and has by far the lowest gaming taxes,' Fitch wrote. 'Lower taxes give these casinos more room in the margin to spend on promotional activity, including free food and hotel stays.'

Get the Monitor Stories you care about delivered to your inbox.

___

Wayne Parry can be reached at http://twitter.com/WayneParryAC

Help fund Monitor journalism for $11/ month

Already a subscriber?Login

Monitor journalism changes lives because we open that too-small box that most people think they live in. We believe news can and should expand a sense of identity and possibility beyond narrow conventional expectations.

Our work isn't possible without your support.

Unlimited digital access $11/month.

Already a subscriber?Login

Why Is Gambling Legal In Atlantic City New Jersey

Digital subscription includes:

• Unlimited access to CSMonitor.com.
• CSMonitor.com archive.
• The Monitor Daily email.
• No advertising.
• Cancel anytime.

Related stories

• Test your knowledgeAre you a smart car buyer? Take the quiz.

On February 26, 2013, New Jersey Governor Chris Christie legalized Atlantic City online gambling. Nevada was the first state to make history by offering a legalized online poker package, and Delaware made some forms of Internet gambling legal just ahead of New Jersey. The New Jersey Legislature overwhelmingly approved the new Internet gambling package, which was then signed into law by Governor Christie. The law provides for a ten-year trial of Internet casino gambling for New Jersey residents and visitors, restricting the licensing to the current 12 Atlantic City casinos.

Why Is Gambling Legal In Atlantic City Md

Statewide, New Jersey residents have always been able to enjoy Atlantic city online casinos by playing with reputable legal offshore gambling sites, and that option is still available. But the new law aims to keep New Jersey dollars at home, providing a wealth of Internet gambling options which will run through physical computer servers located in Atlantic City's famed casinos. You need only be 21 years old to play and physically accessing the Internet from a computer in New Jersey.

Top Atlantic City Online Gambling Site

Las Vegas USA Casino

Why Is Gambling Legal In Atlantic City New York

Las Vegas USA is a licensed and regulated offshore casino that brings the feel of Las Vegas and Atlantic City right to your computer. They are very reputable and offer new players some fantastic welcome bonuses to choose from including 400% bonus up to $10,000 for slots or their 150% cashable bonus up to $3,000 for table games. This site is a true veteran in the industry and reflects the best online gambling has to offer in the way of bonuses and rewards. By playing with an offshore site such as Las Vegas USA, you will get much more bang for your buck.

Legal Atlantic City Online Gambling Sites Available To All New Jersey Players In 2020

We have carefully reviewed the many sites which legally accept Atlantic City players, and have listed the ones which we felt exceeded licensing requirements and industry standards, and went above and beyond in their commitment to player safety and satisfaction. They are all legally licensed by a legitimate governing jurisdiction which offers strict regulation and detailed compliance certification monitoring. They also met our expectations in regards to performance, reliability, and security.

More About Gambling Online In Atlantic City New Jersey

Those who enjoy placing a bet on the horses, playing a few hands of poker, betting on their favorite sports team or enjoying casino table games and slots will definitely benefit from the new Atlantic City online gambling legislation. Gambling has a long history in New Jersey, a state which has adopted a very permissive and positive view of gambling which goes back to the early 19th century. Lotteries were very common in New Jersey in the early 1800s, and even helped pay for the state's military efforts throughout the French and Indian War, as well as the American Revolution. This new online gambling offering is just the current version of such historical wagering options delivered in NJ.

For example, the famous Freehold Raceway is the oldest racetrack in the United States, and has been offering horse racing wagers since the 1830s. But times are changing, no longer is the need to drive half way across the state to bet on horses. New Jersey players can now check out what options are available in our Atlantic City online sports betting section for the top rated sites that offer betting on horses, your favorite sports teams and even casino games.

Why Is Gambling Legal In Atlantic City Nj

Many generations of New Jersey residents have enjoyed, and still enjoy, gambling in its physical form, and now technology has sided with friendly legislation to deliver Atlantic City-based internet wagering to your PC or smartphone. Players can open accounts online using their preferred credit card or an alternate, secure form of payment, and if an Atlantic City online poker or casino gambler travels out of state, they can simply access legally certified offshore Internet gambling portals until they return to New Jersey. The recently launch of their online poker platform has expanded options for players, including the Atlantic City poker tournament landscape.

Since the United States federal government does not support a nationwide online gambling picture, individual states like New Jersey have had to offer their own statewide Internet gambling legislative packages. The historical and current climate in New Jersey is very gambling-friendly, and combines with the 'always available' feature of the Internet to offer NJ residents and visitors a complete virtual gambling package. Atlantic City casino hotels will now be able to add internet betting to features like world-class dining and five-star entertainment for those New Jersey residents and travelers headed to the world famous boardwalk city.

Why Is Gambling Legal In Atlantic City Casinos

A look At The Legalities Of Online Betting In Atlantic City

Where Is Gambling Legal

As mentioned above, New Jersey has legalized online gambling to be licensed, regulated, and offered within the state of New Jersey. It will take some time to develop New Jersey's infrastructure which will license and regulate the new state side online gambling platform for New Jersey residents, and of course online gambling sites which are in compliance with licensing requirements and industry standards are in development. Many players are waiting to see how robust the sites turn out to be, and if they will offer the same types of generous bonus schemes and promotions that their offshore competitors are now offering. As we wait for the home grown version of online gambling to launch, there are some very high quality and secure online gambling options which currently accept players from Atlantic City and throughout the state of New Jersey.