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Atlantic City Expects Revenue Growth

20 December 2002

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "With a new casino hotel and hotel-expansion project scheduled to open next summer, the Atlantic City Convention & Visitors Authority expects to take in an additional half-million dollars for its budget next year.

"…Jeffrey S. Vasser, the authority's executive director, said `We've not had a lot of growth in our revenue over the years because we haven't had a new casino in a long time.'

"…The influx of additional funding comes at a perfect time for the city's marketing agency, which is charged with generating economic growth through conventions and tourism. The authority plans to roll out a new advertising campaign next spring after the completion of a branding study and the development of a new strategic plan.

"…The new advertising push is expected to come in the spring prior to the opening of the Borgata Hotel Casino & Spa and the 544-room hotel expansion at Showboat Casino-Hotel. The Walk, Cordish Co.'s $60 million retail and entertainment project at the base of the Atlantic City Expressway, also is projected to open next summer.

"…Positioning Atlantic City as a leading tourist destination in the region has become vital because nearby states - including Pennsylvania, Maryland and New York - are considering adding casinos and other forms of legalized gaming, Vasser said. He said the new gaming outlets could draw visitors away from Atlantic City if the resort isn't aggressive in maintaining and expanding its customer base…"

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