AC closing in on Vegas?

[NickMPK]

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AC is so seedy and decrepit, it is beyond help.

Any new investment would be far better spent on a new coastal resort somewhere north of AC, so that it was actually within a reasonable weekend drive of the big tristate cities.


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You know that such a resort could not include gambling, right?

Even authorizing gambling in AC took several years and multiple statewide public referenda, along with the requisite lobbyist efforts against vigorous anti-gambling groups. I doubt that the public is more likely to approve gambling in another city now after seeing how AC has turned out.

[RydenStoompala]

Ludicrous.

Vegas topped a $billion monthly drop the very first month that Wynn's new property came on line, and the strip has been hovering near that mark ever since. Atlantic City would have to burn to the ground, be rebuilt, repopulated and remanaged before they'd have a prayer of getting half way to the visitor and revenue numbers of Vegas.

Did Donald Trump write that piece? Did he do it in between hawking raw meat and looking for his money?

[Cactus Jack]

LV is more than gambling.

[keebler61]

Jack's got this one nailed. AC doesn't have the sideshows and clubs and all the other stuff that attracts the fishy to a wild weekend in vegas...

[Clarkmeister]

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I deem the article absurd based on your post.

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If the article is absurd, it's based on its own information that I quoted. Regardless, I could see the possibility of the gap closing even if investment in LV > investment in AC. Just the fact that there would be several Vegas-quality properties much closer to people on the east coast could steer a lot of tourists to AC. In effect, each incremental dollar of investment in AC could have greater ROI than in LV. This is because new investment in AC is signficantly improving the experience, where in LV, it is just adding competition to a market that is closer to saturation. But more importantly than whether AC actually can catch Vegas or not (I don't expect it to), it does look to be becoming a more attractive vacation destination, which is good new for us east coasters.

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I said the article was absurd, not your post.

The $11B number was off the top of my head, I must've recalled the state number. Las Vegas itself was about $9B. You have to remember that Vegas is more than the strip. There's the Strip, the Boulder Strip, Downtown as well as the Stations properties. The NGC website has all the detail.

And while you are certainly correct that there's a chance that incremental construction ROI in AC is likely a little higher than in Vegas, it's nowhere near double.

Assuming the $10B number over 10 years in AC is correct, compare that to Vegas. City Center will end up near $10B alone when it's done. $4B for Echelon, $2B for Fountain Bleu, $4B for the Plaza, $2B for Encore, $3B for Pallazo and I'd be shocked if MGM doesn't develop that large plot at the north strip within a decade, let's call that another $6B that may or may not happen (all numbers by recollection off the top of my head). That's $25B for sure and as much as $30+B. As I said above, there's just no way that AC gets that much higher ROI. It's impossible. If it was possible, the investment number would be a lot more than $10B and projects like Pinnacle's wouldn't be on the backburner, they would be fast-tracked.

[ackid]

[censored] Vegas!!

Vegas is Hollywood. A tourist trap for dysfunctional families and Micky Mouse and Goofy sycophants.

AC is Hardcore. A sleezy cesspool of true gamblers.

[img]/images/graemlins/grin.gif[/img]

[pocketpared]

http://www.state.nj.us/casinos/home/...06_revenue.pdf

[Eponymous]

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Jack's got this one nailed. AC doesn't have the sideshows and clubs and all the other stuff that attracts the fishy to a wild weekend in vegas...

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While I agree with the posts that say AC is a long way behind Vegas, there is a lot more evidence than this one article that AC is turning the corner. The Borgata already has the Vegas-type clubs and several hotels already have been attracting high quality music and comedy shows. As they add several more mega casinos, the experience will be more Vegas like. Although I don't expect it to be as good as Vegas, I could see revenues closing the gap as east coast people opt for making the much shorter trip to AC for a Vegas-like experience, with the beach as an added attraction.

I'm not trying to say that I (or anyone) will prefer AC to Vegas anytime soon, but it is nice to see that we might soon have something a lot closer to the Vegas experience a short drive away for a lot of us.

[chillrob]

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LV is more than gambling.

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I know most people probably agree with you, but as far as I'm concerned all Vegas has is gambling. AC has the beach and boardwalk, both of which are suprisingly nice (the beach is a lot nicer than it was 15 years ago when I went for the first time).

I went to Vegas for the first time last year and was bored when not playing poker, and the poker was not as good as in AC (and nowhere near as good as in California). Some of the stuff at the big casinos was interesting to look at _once_, but I have no desire to ever see it again.

Honestly I have no idea what the allure of Vegas is. If you live on the East Coast, like poker and the beach, go to AC. If you really just want great poker (and want other interesting things to do as well), go to Los Angeles or the Bay Area of California. If you're a degenerate gambler who doesn't mind never being outside, go to Vegas.

[pocketpared]

AC is and always has been a cesspool. Revenues are down last 5 out of 6 months over 2006 and will continue to fall. The new anti-smoking law and the proliferation of slots at racetracks and slot parlors in adjoining states is the reason why. Years ago Trop tried to convince the other casinos to stop comping gamblers completely, arguing they'd come anyway. Bus comps were reduced and all but eliminated but it didn't go any further. Some AC casinos have recently begun tightening comps in response to the downtrend. Conde Nast travel magazine 2 years in a row voted AC the worst destination resort in the world saying the employees are surly, among numerous other reasons. Someone pull the chain and flush this turd for good.