
Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint
Things aren’t great right now in Atlantic City. Casinos are closing, revenues are dropping and profits are drying up month after month. It’s a right time when resorts are carefully monitoring every buck that will come in and out of their stability books. In a nutshell, it’s about the time that is worst possible for the six-figure sum to go missing from one associated with city’s casinos.
According to police, two masked thieves walked out of Caesars Atlantic City with increased than $180,000 on Monday after a raid that is smash-and-grab the casino. The robbery reportedly took place on Monday morning, though police did not immediately release much information about the main points of the crime. According to USA Today, trooper Alina Spies stated that police were investigating the matter, but which they did not want to produce any information that may hinder the research that was underway.
Early Morning Robbery
Neighborhood media, citing police sources, said that the robbery involved two suspects whom entered Caesars Atlantic City around 6 am. At least one of them had a gun and pulled it before stealing two synthetic boxes that contained the stolen cash. They then fled the scene in a motor car at approximately 6:20 am, according up to a police bulletin.
The actual situation is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery occurred inside the casino. If the crime had occurred in a resort or other general public area, it could be customary for city police to deal with the matter.
While $181,000 may not be much in the grand scheme of things for a major casino (Caesars earned $28.8 million in income during June alone), the theft comes during the worst possible time for an Atlantic City venue. The city has been struggling seemingly on all fronts, and that’s mostly driven by struggling casino properties. Revenues at the town’s gambling enterprises have been falling for decades, and also as many as four casinos could wind up closing throughout the course of 2013.
One particular casinos, the Showboat, is operated by Caesars and is scheduled to close during the end of August. Others include the Atlantic Club, which closed in January, the Trump Plaza, which is planned for closure later this season, and also the Revel, that is currently in bankruptcy court and could close if a buyer is not found.
Caesars Atlantic City occupies a large, high-rise building that takes up a block between the famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It’s not clear how the perpetrators entered or exited the building.
Casino Heists Not Unheard Of
While casino security is virtually second-to-none, that doesn’t mean that it’s impossible for criminals to occasionally pull a heist. The schemes, but, are rarely because complex as something you’d see in Ocean’s 11.
For example, this season, a gunman wearing a motorcycle helmet dashed to the Bellagio regarding the Las vegas, nevada Strip. He proceeded to steal chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, had been eventually caught months later on and had been sentenced to jail.
Atlantic City Casino Struggles Hurting Regional Economy
Atlantic City’s beaches could help attract tourists who’ren’t interested in gambling. (Image: ACHotelExperts.com)
As Atlantic City watches gambling enterprises close left and right, officials acknowledge that the city has to get how to diversify as gambling revenues continue steadily to tumble. In addition they acknowledge that this isn’t going to be a easy transition: the city has gotten utilized to relying on the gaming industry, and which is a hard habit to split. But exactly what might never be immediately obvious is the amount of this shift in priorities could hurt the Jersey that is entire shore.
Atlantic City’s casinos have long brought tourists to the region, gamblers and others that will spend time at then other venues along the shore. But it’s more than that: according to a 2008 study by Rutgers University, some 100,000 jobs in New Jersey had been associated with the video gaming industry in one single way or another. That accounts for around two percent of the state’s total workforce.
‘When Atlantic City suffers, the area that is entire,’ said David Breeden, administrator for the city of Barnegat.
Several Casinos Closing This Year
Up to four Atlantic City casinos which were operating in 2013 may be closed by the end of this present year. The Atlantic Club closed in January, whilst the Showboat and also the Trump Plaza are both expected to close in the next few months. The Revel could also shut this if a buyer can’t be found year.
With casino profits under some pressure from rivals in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in regards to gaming revenues), Atlantic City is now trying to find other ways to attract visitors outside of slot devices and dining table games. That doesn’t mean abandoning the casinos entirely, but visitors that are rather giving reason to quit by way of a city that is seemingly in the decline.
That could mean more tourist attractions for families, bringing larger conventions to the city, and making sure amenities are there any for folks who are only gamblers that are casual. But that’s going to take some right time to perfect, and the change is anticipated to be rough.
‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not numerous corporations that are big hire individuals down here. The gambling enterprises have now been a boon for individuals down here.’
A transition that is painful
Even if Atlantic City does have the ability to rebound, it’s unclear as it was in its gaming heyday whether it will ever be the same. New companies may create jobs, but there’s no guarantee that they’re going to end up being the same types of high-paying opportunities afforded by the casinos.
‘We will endure the pain sensation that comes with transitioning from an economy overly reliant for a industry that is single’ said Atlantic City mayor Don Guardian.
In the bright side, the town does nevertheless draw about 27 million visitors each year, generally there’s certainly a lot of disposable income to go around if the city will find the proper way to capture it. There are also plenty of resources that may help Atlantic City make this kind of transition: there’s still the world-famous boardwalk, while the beaches are still a fantastic draw through the summers.
But while attempting to squeeze more out of tourism will help, some certainly professionals believe Atlantic City should look for other opportunities for development too.
‘I’m all for wanting to increase the size of the pie that is non-gaming yet not just hospitality and tourism,’ Deborah M. Figart, teacher of education and economics at the Richard Stockton university of brand New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that aren’t a one- or two-industry town, those metropolitan areas tend to do very well and prosper even in times of recession.’
Nevada Casinos Could Ban Smoking in Near Future
More casino areas ‘re going smoke-free, and a ban that is total Nevada casinos could be not far off. (Image: Mel Evans/AP)
The public image of the casino floor was one of smoke-filled tables and a cloudy haze throughout the halls in the old days of gambling. On the years, that vision has mainly changed: enter any major casino, and there will tend to be large swaths of smoke-free areas for patrons that would choose a somewhat more gambling experience that is breathable. Nevertheless, at the least in Nevada, there has nevertheless been room for smokers and non-smokers alike.
But according to some analysts, that might be changing soon. Many states with casino gambling have previously outlawed smoking in casinos, and Macau is already about to implement a ban later this year. That and other signs have actually led Deutsche Bank video gaming analyst Andrew Zarnett to predict that a cigarette smoking ban could come to Nevada in the next two years.
Zarnett cited a combination of the move by Macau, which may now be a market trendsetter, as well as the study that is continued of perils of second-hand smoking cigarettes as factors leading him to believe such a ban could be coming sooner in the place of later.
Smoking Ban Could Be Expensive
But he additionally warned that such a ban could cost Nevada casinos large amount of cash. He remarked that other states have observed revenue that is significant after passing such laws within the past: Delaware’s casino profits fell 11.3 percent following a 2002 ban, while Illinois saw a 20.9 percent drop after their own 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it were doing exactly the same.
That might mean that such a ban wouldn’t be complete, and would still give smokers a place where they might sneak in a few puffs that are good. In Macau, smoking cigarettes would still be allowed into the high-end areas where VIP gamblers congregate, and you will see unique smoking rooms with segregated ventilation systems. The latter is obviously the solution now set up in Las Vegas’ international airport, McCarran, where smokers sit inside large lucite-surrounded free-standing ‘rooms’ that are completely closed off from the main airport areas, where smoking cigarettes is forbidden.
The Macau ban will go into effect on October 6, just after the Golden Week holiday ends. Any smoking cigarettes areas being built in gambling enterprises must account fully for fewer than half of the overall gaming area in each venue.
No Immediate Push for a Ban
According to officials in Nevada, there is no push that is immediate ban smoking in casinos anywhere in the state, and there was no general public groundswell to do this. But even that it sounds like it could be if it were to happen, it may not be the shock to the system. In 2006, Nevada voters banned smoking cigarettes in all public places other than casino floors. And some casino areas already are smoke-free, including numerous poker rooms and activities books. The entire World variety of Poker was played in a smoke-free environment this year.
Even though those projections of major losings may be scary, not everyone agrees that smoking bans are directly associated to casino profits.
‘Bad weather, fuel rates, market saturation, competition, casino financial obligation, the recession that began in 2008 that severely affected all gaming profits, including Vegas, would be the other cards missing out of this deck,’ stated Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the cause of income decreases, rather, it’s bad business planning.’
And even if the casinos aren’t about to put a ban into place right away, Steinberg agrees that it shall come eventually.
‘Casino smoking bans are everywhere and inevitable,’ she said. ‘Nevada is next and the gaming industry knows it.’
