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Monday, dec 30
Tag:
Casino industry
Business
Atlantic City Casino Hotel Losing Management Partner At End Of 2024
An Atlantic City casino hotel will lose its management partner at the end of the year, officials said. Mohegan Gaming & Entertainment announced it will end its management assignment at Resorts Casino Hotel at the end of 2024. Resorts was the first Native American-run casino in Atlantic City and Mohegan purchased a 10-percent ownership interest in 2012. Mohegan will keep its 10-percent stake in Resorts. "We’re extremely proud of our relationship with Resorts Casino Hotel and what we have helped accomplish," said Mohegan Gaming & Entertainment president and CEO Ray Pineault. "We want…
Business
Casino Hotel Workers Seek 'Significant' Pay Hikes In Atlantic City Contract, Union Says
More than 10,000 casino-hotel workers in Atlantic City are seeking significant pay hikes upon the expiration of their contracts on May 31, according to their union. "We haven't even started bargaining with the companies," said Bethany Holmes, a spokeswoman for Local 54 of Unite Here, the main union representing workers at nine Atlantic City casinos. It's too soon to say whether casino workers would walk out on their jobs if an agreement can't be reached. Holmes declined to say how much of a raise the union is seeking but said it's meant to keep up with inflation and the cost of…
Business
Caesars Entertainment Bets $400M On New Restaurants, Renovations At 3 Atlantic City Casinos
Caesars Entertainment announced on Wednesday that it is investing $400 million into three of its Atlantic City casino resorts. Renovations, to begin this summer at Caesars, Harrah's Resort and Tropicana Atlantic City, include new restaurants, enhanced gaming floors and renovated guest rooms. The international company's plans include remodeled room towers; new interior designs, enhancements to the casinos' gaming floors; new dining concepts with acclaimed restaurant partners; and many more additions within the next three years, the company said in a news release. Caesars Entertainment…
News
Atlantic City Casinos Losing $540M Per Month, 26,000 Workers Without Jobs Amid
Covid-
19 Crisis
It's been a while since Atlantic City has gotten any action, and it shows. The casinos, which were ordered shut March 16, are losing $540 million a month and more than 26,000 workers are out of jobs, the New York Post reports. Casino industry expert and University of Texas Rio Grande Valley professor Clyde Barrow said the coronavirus has caused "the biggest blow to the casino industry that we’ve seen in a lifetime." Casinos across the U.S. are expected to lose more than $21 billion in revenue before the coronavirus crisis clears up, The Post said. Gambling officials hope the industry…
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