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Posts Tagged ‘atlantic city’

Ride the ACES Train to Atlantic City Fun

Wednesday, January 28th, 2009

Out of the “Why didn’t they think of this sooner file?” comes word that the new ACES train will begin shuttling weekend passengers from New York’s Penn Station to the casino resorts of Atlantic City beginning February 6.  The train will also make a stop for passengers in Newark.

ACES stands for Atlantic City Express Service and is a joint venture with partners Caesars Atlantic City, Harrah’s Resort Atlantic City and The Borgata Hotel Casino and Spa.  Upon arrival in AC, shuttles will ferry riders from the depot to any one of the three casinos.

Train service will be offered on eight multi-level rail cars designed with upgraded leather seating, a private lounge, custom-designed food and beverage kiosks and both first and coach class travel experiences.

Introductory ticket prices — on sale now — will start at $50 for one-way coach seat and $75 for one-way first class seat.  Get additional ticket pricing and purchase information at the well-designed www.acestrain.com website. Visitors to the website will be able to reserve their seats and book hotel stays at Caesars Atlantic City, Harrah’s Resort Atlantic City and Borgata Hotel Casino and Spa.

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Las Vegas, Atlantic City Gambling Revenues Show Continued Downward Trend

Tuesday, January 13th, 2009
You'll have to wait awhile to book a stay in the new Octavius Tower as Caesars stalls the project.

Caesars Palace will wait to add 660 more rooms as Harrah's puts hold on new tower.

When it comes to gambling revenues these days, if there is any bright spot to be found for Las Vegas casino managers it could be — “Well, at least we’re not Atlantic City.”

The numbers coming in from the two biggest gaming Meccas in the country aren’t pretty and certainly serve to justify all the recent changes and holds* we’ve seen on several casino construction projects.

Gambling revenues for the state of Nevada fell 14.8 percent in November compared with a year ago according to figures released last week by the state’s Gaming Control Board.  Within the state, LV Strip properties recorded a 16.02% drop while North Lake Tahoe casinos fell a whopping 26.94%. (more…)

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Casinos Fold on New Construction Projects

Monday, November 10th, 2008

Screech.  Thud.  Those are the sounds of casino construction being brought to a halt across the country.  It seems there is news every week about another project being put “on hold” as the downturn in the economy continues to affect all segments of the gaming industry.  Curious, I compiled this list of who is stopping what and where…so far.

MGM Mirage – Announced in its third-quarter earnings release on October 29 that the company is postponing indefinitely its MGM Atlantic City project citing “current economic conditions and the impact of the credit market environment.”   In Las Vegas, MGM Mirage has also halted plans “for the development of a major resort complex on the southwest corner of the Las Vegas Strip and Sahara Avenue in Las Vegas….” 

There’s better news, however, for MGM’s CityCenter Las Vegas development.  In an interview with Market Watch, company officials said the $9 billion resort complex “will get the financing it needs to be completed.”  (more…)

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Arizona Casino Revenue Falls in Third Quarter

Saturday, November 1st, 2008

Casino gaming revenue is down all over the country.  No surprise there considering the state of the economy.  In September alone, Biloxi casinos — hit with Hurricane Gustav and forced to close over a typically busy Labor Day Weekend — reported revenue down a whopping 26% from a year ago.  In Atlantic City, September brought the biggest monthy drop ever for the seaside gaming community – 15.1%.  And for August — which included most of the Labor Day weekend numbers — Nevada reported an 8.1% decrease with gaming capital, Las Vegas, down 7.4%.  I’m sure we’re going to see Nevada’s September numbers more in line with the double-digit declines reported above when they are released later this month.

And in Arizona, the state department of gaming, announced Friday that for the quarter ended September 30, tribal contributions from Indian gaming revenue — which are based on gaming earnings — to the state fell 9.5% from the same period a year ago.  

According to the Arizona Department of Gaming press release, “Arizona tribes’ combined contribution for the quarter…was approximately $25.0 million.  That’s down from $27.6 million in the same quarter a year before.”

So what do these revenue drops mean for casino visitors?  Look for more competition among gaming venues for your gambling dollars.  More and bigger promotions (think Harrah’s Ak-ChinWin Your Million“), enticing hotel rates all around the country, especially in room-laden Las Vegas, and lots of other events and ideas aimed at getting fannies into the gaming seats.

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