The “new” Atlantic City sees the meeting, convention & conference business as a good bet. So much so, that the CRDA placed a handful of chips on ‘Meet AC’ and the appointment of James Wood as CEO. According to Meetings Magazine, the former president and CEO of the Louisville Convention & Visitors Bureau, Wood’s job is […]
CRDA Places Bet on Wood to Attract Non-Gaming Revenue to Atlantic City Read More »
An economic package designed to help pull Atlantic City out of its financial crisis will be voted on next month. The main piece of this legislation is a payment-in-lieu-of-taxes plan, or PILOT program. This plan is designed to stabilize Atlantic City’s balance sheet, even as property values continue to struggle. If passed, casinos would pay
Casino Pilot Plan to Help Atlantic City, Ready for Vote Read More »
From AP NEWS: Atlantic City is suing to get back $3 million it gave to the company that has failed to run the Community Loan Program, launched in 2013 by Lorenzo Langford, the mayor at the time. The company is partially owned by relatives of a former Langford aide, The Associated Press found. The company
Why Did Former AC Mayor and Council OK $3 Million Advance for Loan Program? Read More »
As four Atlantic City casinos shut down last year, those that remained voiced optimism that their own performance would improve. Figures released Friday by the state Division of Gaming Enforcement show the surviving eight casinos saw their gross operating profits rise by 26 percent in the first quarter of this year. The casinos posted a collective operating
Golden Nugget Had Biggest Increase as Most Remaining Casinos Grow Read More »
The Christie Administration just launched its Atlantic City Re-employment initiative. The state will use a $29.4 million National Emergency Grant award it received from the US Department of Labor to provide comprehensive re-employment and retraining assistance to displaced workers impacted by the casino closings in Atlantic City last year. The initiative focuses on preparing displaced
The Re-employment of Atlantic City Casino Workers Read More »
Atlantic City’s revenue and finance director, Michael Stinson, said the city has completed a $40.56 million bond offering through a negotiated sale with six or seven investors, including some hedge funds that he declined to name. “I’m thankful that the deal went through,” Stinson said. “I’m obviously disappointed at the rate of interest that the city
Atlantic City Bond Offering Attracts Hedge Funds Read More »
Atlantic City Council Meeting Embarrassment. WATCH VIDEO. You’ll understand why the State of NJ has been methodically taking over Atlantic City. ‘Can ya blame them?’ said one audience member at a recent Atlantic City Council meeting. John Exadaktilos says: These councilmen make over $25,000 a year to argue like children, yell expletives at people during meetings,
VIDEO > Time for Atlantic City to Clean House. Take Control of Turn-Around Story Read More »
From Press of ATLANTIC CITY — Gross operating profits for Atlantic City’s casino industry more than doubled in the first quarter as the eight survivors benefited from the closings of four competitors last year. Altogether, the industry posted an $81.3 million operating profit for the quarter, a 109 percent increase compared to $38.8 million a
Atlantic City Casino Profits Double in Q1 2015 Read More »
Atlantic City is serving up cool cocktails, cold beers and frozen drinks. When it’s time to take a shaded break from sunbathing or bodysurfing, or when it’s time to reconnect with friends and loved ones after sundown, an outdoor waterfront bar is never more than a few blocks away. Whether you relax with a DJ at
Atlantic City Beach and Boardwalk Bars Ready for Summer 2015 Read More »
We call him Mr. Atlantic City, the man with a heart that pounds for this city by the sea. Well, that heart was scheduled for it’s 87 year tune up this week. Pinky Kravitz underwent open heart surgery and is doing well we’re happy to report. Doctors bypassed an artery and replaced a valve in
Mr. Atlantic City; Pinky Kravitz, Recovering Nicely from Heart Surgery. Read More »