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Atlantic City Casino Business Off, Gamblers Nervous

19 September 2001

ATLANTIC CITY, New Jersey –Sept. 19, 2001 –As reported by the Associated Press: "These days, seats are easier to find on the buses that ferry gamblers to Atlantic City's casinos. Suddenly, the 25-cent slot players from Pennsylvania, New York and northern New Jersey don't want to make the trip.

"When they do, they're nervous. They ask for rooms close to the ground. Rooms in high-rise casino towers, once the most desirable because of their spectacular Atlantic Ocean view, are now going begging.

"…The casinos, which normally flourish in both boom and lean times, have been struggling since Sept. 11, when hijacked jetliners were crashed into the World Trade Center and the Pentagon.

"Industry officials estimate a 10 percent reduction in gross revenue so far.

"Casino company stock prices have fallen. And Park Place Entertainment Corp., the industry giant that owns four Atlantic City casino hotels, has put on hold plans for $87 million worth of renovations and additions to the properties.

"…But things could be worse. Experts say Las Vegas, which relies on air travel for up to 70 percent of its casino business, stands to suffer worse than Atlantic City.

"Indeed, some who usually go to Las Vegas gamblers have come here instead…"

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