Clubs may be key to Atlantic City
1 July 2009
ATLANTIC CITY, New Jersey -- As reported by Metro International: "Despite predictions that Atlantic City will never again be the end-all, be-all adult playground for East Coasters, two investors are taking a long shot that the nightlife will still attract young people and their cash.
"With profits down — 11 percent in the last year through June — the $7 million Dusk, opening this weekend at Caesar's Casino, could turn out to be a referendum on the gambling mecca's appeal beyond wagering at the slots and table games.
"'A good portion of Atlantic City's business is lost forever to more convenient casinos of Pennsylvania, New York and Delaware,' said Joe Weinert of Spectrum Gaming, an industry consulting group. 'Nightclubs are prime examples of what Atlantic City needs to convince people within two or three hours to drive past their local gaming halls and come.'
"One longtime analyst, however, thinks Atlantic City's fortunes are tied strictly to the casinos.
"'Nightclubs may get you some extra dollars, but that's not the next level,' said Milton Leontiades, dean emeritus of Rutgers University-Camden's School of Business. 'You have to look beyond the next nightlclub or beach bar that's sort of a snap-on addition...'"