AC closing in on Vegas?

[Eponymous]

Interesting article summarizing new mega-casinos and expansions to existing properties in AC. Excerpt below. Will AC surpass Vegas in gambling revenues in the next few years? (and possibly overall revenues eventually?) An Atlantic City with a growing number of new Vegas-style casinos while the existing ones upgrade to keep up, not to mention the added attraction of the beach and boardwalk, could rival Vegas for the #1 gambling destination.

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Atlantic City and Las Vegas are close when it comes to the amount of money they take in from gambling. Last year, Atlantic City netted $5.2 billion, while Las Vegas took in $6.5 billion.

But at $5 billion a year, Las Vegas does 10 times the non-gambling business Atlantic City does. That's something Atlantic City is trying to fix with Vegas-type amenities: high-end shopping at The Pier at Caesars and The Walk, lavish indoor swimming pools like the one Harrah's opened this summer, and signature restaurants by famous chefs such as Bobby Flay, Michael Mina and Wolfgang Puck at the Borgata.

Robert Corrales, a spokesman for the Casino Reinvestment Development Authority, said casino companies plan $10 billion worth of new investments in Atlantic City over the next five to 10 years.


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