Atlantic City Status

[olds442jetaway]

[QUOTE=notes1]
Unfortunately, america is full of stories of towns, who based their fortunes on one industry or company and died a slow death. This has happened in the past and will continue into the future. If one does not grow/diversify, one becomes too dependent and as AC has seen, events/competition can ruin your future.   Those who survive, tend to have strong leadership and forward thinking. As we have witnessed from the economic crisis, living for today only, not planning for tough times when they do come (and they always do), over borrowing, etc, leaves one vulnerable and unable to survive when times get tough.  AC lacked leadership and forward thinking. It was the only place to play on the east coast for decades. It took it's position for granted. Business courses will be taught about what happened there. I would just like to know, where did all the money the casinos and the government got go? 
You are spot on, Notes1. I have heard Vegas described as a 'movie set' - tearing down things that no longer work, and put up new ones. Just like movies, they are not always successful, but the leadership in Vegas has no problem blowing them up for something else.

As for the money - do you REALLY need to ask ? Politicians and money are NEVER separated. [/QUOTE]

     That is for sure. Just like on Boardwalk Emptire.

[notes1]

billyjoe, you and i may not agree on how much to trust a casino, but, your description of Vegas as a movie set is.....perfect.   If anyone did any solid reporting, i would guess they would find a lot of public works projects directed to politicians family members and lucrative public employee pay/benefits, given by elected officials to buy votes.

[DaBurglar]

So DaBurglar what are/do you suggest in your above post? As for schools cutting their budget, wouldn't a reduction in the size of the student body and projected class sizes have something to do with a school's budget moving up or down?I dont suggest anything, more of a ranting against the seemingly pointless/hopeless bent of the partial bloomberg article billyjoe cited.   Nothing makes sense about AC anymore....But to adress your specific point, technically yes you'd expect a school that loses a bunch of students to cut back and not need as many teachers, lunch meat and erasers.   But this leads to, then, the undermining of the city/state argument AGAINST giving Icahn what he claims he needs in order to make Taj a going concern again.   Someone is obviously wayyyyy off in their worldview.

[BillyJoe]

Well, I guess the plan is to flood AC with Convention center space. In addition to the one that Harrahs Marina is building, here is another...

Resorts Casino aims for corporate meetings with new center

Resorts Casino Hotel in Atlantic City, N.J., plans to build a $9.3 million conference center to attract more corporate meetings. The property will feature 11 meeting rooms designed for smaller meetings, a niche Resorts consultant Cory Morowitz says has been overlooked. Resorts has spent $60 million on casino floor and non-gaming upgrades since changing hands in 2010. The Press of Atlantic City (N.J.) (tiered subscription model) (11/18)

[olds442jetaway]

Mohegan Sun has been hosting many conventions for a long time if for nothing else, just to keep the hotel full. From what I have seen so far, most of these folks are non or very light gamblers. They seem to do a pretty good job though of hitting the bars.

[notes1]

Building more convention space in AC will do little, if people do not feel safe moving about the city and having things to do, other than hang out at a casino. Believe it or not, but, there are actually folks who do not like going to casinos.  

[DaBurglar]

Building more convention space in AC will do little, if people do not feel safe moving about the city and having things to do, other than hang out at a casino. Believe it or not, but, there are actually folks who do not like going to casinos.  excellent point.....One stark observation I made recently when spending a few days in Vegas sandwiched in betwixt time in AC was this:  in VEGAS, it is actually VERY easy NOT to gamble or play casino games, simply because there is a CRAPLOAD of other things to see and do and eat etc.  and in VEGAS there is a plethora of ways and means to get around and about town (i.e. transportation to and fro).......in AC, especially as things close and shut down, this is NOT the case......especially during the NON-summer months when the primary MAIN non-gambling attraction/activity (i.e. the BEACH) is closed or too cold to enjoy.     

[BillyJoe]

I just saw this item regarding the former Showboat. Interesting..

Showboat On Course For College?

Showboat seems to have found a buyer in
Richard Stockton College. The school plans
to use the shuttered casino as a branch campus
and hotel.
“The transaction is subject to completion
of due diligence by the college and the
negotiation and execution of a definitive
agreement,” according to a joint statement
from Caesars Entertainment and Stockton.

[DaBurglar]

I just saw this item regarding the former Showboat. Interesting..

Showboat On Course For College?

Showboat seems to have found a buyer in
Richard Stockton College. The school plans
to use the shuttered casino as a branch campus
and hotel.
“The transaction is subject to completion
of due diligence by the college and the
negotiation and execution of a definitive
agreement,” according to a joint statement
from Caesars Entertainment and Stockton.YEP, THE  Stockton College is actually a big deal in AC and southern Jersey......good for them, I hope they acquire the building at a HUGE discount.......I was hoping one or tow of the shuttered casinos winds up as something TRULy useful and beneficial to society, like a hospital or educational facility, or housing for the homeless or veterans, etc.The fact is, right now, with AC in such dire straights, the right people or organizations with the right needs and circumstances can actually acquire these shuttered facilities at a great deal/rate......for the city, they are a huge drag if they sit unoccupied, unowned and inactive.   AC will never get the money they would have if the casinos were still active as actual casinos, but having at least SOMETHING or someone owning and utilizing (and paying) on the ex-casino facilities is far better than NOTHING.

[olds442jetaway]

Sounds like a great idea and good for the community too. Hope the kids have the sense not to risk their tuition or book money in the casinos which will be right there along with all of that free alcohol. Boy, I am really showing my age now. Just basing those comments on some of my experiences back at UCONN almost 50 years ago. I still miss working with the wolves up there though. I mean real ones. And of course the dairy bar which I plan to visit for sure this spring. For that matter, why wait.