![]() The promise is jobs and more tax revenue, but New York may eventually discover what New Jersey did: that it had four more casinos than it actually needs. Cuomo is planning to add four casino destinations in the upstate region to the nine racinos and five casinos already operating. In 2014, the casino’s revenue had fallen to almost half what it had been in 2006, resulting in the fourth and final bankruptcy filing.It forced the closure of the casino hotel and went into bankruptcy court’s possession, from which Icahn took control in 2016. Plans are being hatched for a betting fortress in Jersey City, where the population density might favor the house a little more. Neither does building another casino anywhere in the region, but don’t bet against it. ![]() But that doesn’t make much economic sense. “We hope that Revel can be a successful and vital component of Atlantic City under a proper ownership and reorganized expense structure,” the company said in a statement. ![]() It’s still possible that someone could buy the closed Revel and reopen it as a casino. Pieces of the pie will only get smaller now that Massachusetts is planning to join the game. Revenues from Foxwoods and Mohegan Sun peaked at $1.7 billion in 2006 they dropped to $1.17 billion last year according to UNLV. As a result, says UNLV, 10 out of the 22 states with gaming in 2007 have seen declines since then. The casino once formed a key part of Atlantic Citys skyline. ![]() Meanwhile, the number of gambling locations continues to rise. Americans threw down nearly $39 billion in gaming halls last year, according to the University of Nevada at Las Vegas, but that amount is flat with 2012. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |