Re: AC closing in on Vegas?
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Now, it's my understanding from reading reports, that AC is under the same pressure LV was under when AC opened. The racinos in PA are taking away a lot of the slot customers from AC. I believe I read revenues in AC are down. Instead of trying to close in on Vegas, AC is going to have to do something to keep its customer base, as LV did when AC opened.
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This is true, but the good thing is that its forcing AC from being complacent with its usual customers taking the bus for the day with their roll of quarters. They are now looking to attract a more upscale crowd, and the Borgata has shown how successful that approach can be in AC. Many other casino/hotels are upgrading to catch up, and new competition is on the way. They realized that they can succeed by trying to be more like Vegas, and that's good for all of us. I really think that in 5 years, we'll be marveling at the transformation. The money will spill into the areas surrounding the casinos as well, as the shopping area near Caesars has already done.
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