no licenses were approved for Manhattan<\/a>, the tourist hub of the Big Apple which would have generated far larger crowds, gaming officials in Atlantic City acknowledge that the operation of the proposed new casinos in the outer boroughs will still have some impact on the market.<\/p>\n\u201cDownstate New York casinos have been on the horizon for years,\u201d said Mark Giannantonio, president of the Casino Association of New Jersey. \u201cWe recognize this expansion will have a negative impact over time on the Atlantic City market, which makes our mission even clearer. We must accelerate Atlantic City\u2019s transformation into a leading year-round resort destination. <\/p>\n
Giannantonio said the Atlantic City casino industry has already made what he called \u201csignificant strides\u201d in diversifying its offerings, investing more than $1 billion in their properties over the past five years. <\/p>\n
\u201cThe industry is the largest employer in the region, supporting tens of thousands of jobs and serving as a critical economic engine of not only South Jersey, but the entire state of New Jersey,\u201d he said. \u201cWe must stay focused on working collaboratively with government officials, community leaders and stakeholders on the sustained reinvestment and revitalization of Atlantic City.\u201d <\/p>\n
One industry insider said some of the smaller, weaker Atlantic City casinos could suffer.<\/p>\n
Atlantic City\u2019s casinos already see competition from nearby casinos in Pennsylvania, Delaware, Connecticut and slot parlors in New York.<\/p>\n
The addition of any new competitors to a market must be a cause for worry among existing operators, said Bokunewicz.<\/p>\n
\u201cAtlantic City operators have been concerned about New York casinos for some time now and have been formulating strategies to remain competitive. They will likely see a negative impact on revenues and visitors, at least in the short term, but will have the opportunity to transcend this in future especially as the new offerings lose the benefit of the \u201cnovelty factor,\u201d she said. <\/p>\n
Two of the proposed casinos for downstate New York are not scheduled to open until 2030, so there is still time for Atlantic City to take action to remain competitive in the Northeast, she added. <\/p>\n
![\"\"](\"https:\/\/www.nj.com\/resizer\/v2\/DQS2FGRL6VGO7EAPDLWDVFJNME.JPG?auth=f92fdca79a4cfa98ed9211f2dce341bbed6a35d306c7eb58567d3f3509bd3fde&width=1280&smart=true&quality=90\")
Will all nine of Atlantic City’s casinos survive new competition from New York?Eric Conklin | NJ Advance Media for NJ.com<\/p>\n
Still, state Sen. Paul Sarlo, the Bergen County Democrat who chairs the Senate Budget and Appropriations Committee, believes that the state dodged a bullet when New York in September rejected applications to build three casinos in Manhattan. Gaming in the heart of the city he said would have meant much greater competition for New Jersey.<\/p>\n
\u201cThey\u2019re far enough away,\u201d he said of the Queens and Bronx locations, calling the decision to stay out of Manhattan a \u201chuge win\u201d for gaming in New Jersey and the state\u2019s economy. <\/p>\n
Bokunewicz also believes the New York casinos and those in Atlantic City will likely appeal to different kinds of crowds.<\/p>\n
\u201cAtlantic City attracts a largely regional, drive-in customer base, whereas New York City is more likely to attract a broader national and international customer,\u201d she explained. \u201cThere may actually prove to be some positive synergy for Atlantic City as two of the New York properties have an interest in both locations and may seek to promote the resort to members of their loyalty programs. Exposure to this new audience base may improve visitation to Atlantic City in the long term.\u201d<\/p>\n
Despite the addition of full casino gambling in Queens and the Bronx, New Jersey officials say Atlantic City still offers an experience that would be difficult to replicate, shaped by its oceanfront setting and existing amenities.<\/p>\n
\u201cAtlantic City\u2019s unique character, vibrant entertainment scene<\/a> and beachfront atmosphere position it as a distinctly different experience to other competitors,\u201d said Tyler Jones, a spokeswoman for Gov. Phil Murphy. \u201cThe Murphy Administration has prioritized new investments in Atlantic City\u2019s public safety, infrastructure, and boardwalk revitalization to secure its position as the region\u2019s premier destination for gaming and entertainment.\u201d<\/p>\nYet clouds remain on the horizon.<\/p>\n
\u201cA combination of factors has lately been impacting Atlantic City\u2019s bottom line,\u201d Bokunewicz noted.<\/p>\n
This summer\u2019s record total gross gaming revenues failed to translate into gross operating profit gains for Atlantic City\u2019s casino operators, she pointed out.<\/p>\n
\u201cLike operators in all industries, they have seen the cost of doing business increase,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"There are nine casinos in Atlantic City along the boardwalk and beyond that compete for the attention of…\n","protected":false},"author":2,"featured_media":63329,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[9,56,63,65,64,137],"class_list":["post-63328","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-new-york","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news","tag-processedbyclaro"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/63328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=63328"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/63328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/63329"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=63328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=63328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=63328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}