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Changes Paying Off for Atlantic City

27 October 2004

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "Atlantic City has its groove on. Once equated with busloads of senior citizens headed to the slot, these days Atlantic City is, as the town's new tagline proclaims, ''always turned on.'

"While bus traffic is down 12 percent, gaming revenues and overall visitor numbers are on the increase, to the tune of $33 million a year, generating more than $2.8 billion in gaming revenues the first seven months of 2004 alone.

"…While no other gaming destination has Miss America, the Atlantic Ocean, and the Boardwalk, Atlantic City cannot afford to rest on its laurels, especially with Native American casinos sprouting across the Northeast landscape and slot machines on the horizon for Philadelphia and other key cities within driving distance.

"…The July 2003 opening of the billion-dollar Borgata Casino upped the ante for the rest of Atlantic City's 12 casinos, all of which are now in some kind of expansion mode

"…Caesars is in the middle of transforming the former Ocean One Mall on the boardwalk into The Pier at Caesars, a $140 million version of the Forum Shops in Vegas.

"The cleaning up of the boardwalk, once a virtual no-man's land lined with schlock souvenir shops, is another long-overdue improvement.

"…The most visible change along the Boardwalk was the addition of beach bars two summers ago, after the longstanding ban against alcohol on the beach was repealed.

"…A new $125 million 27-story luxury-room tower at Resorts, an infusion of $400 million in equity into the Trump properties, and planned additions at Harrah's and Showboat are just a few of the ways Atlantic City is getting gussied up.

"…One visit and you'll see that this isn't your granny's Atlantic City anymore, unless granny likes to wear a leather miniskirt and halter top."

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