New AC casino plan approved, PICS

[Gonso]

It's sick to think we only have 1 billion dollar casino here now, and we're going to have no less than 5 in under 5 years.

I wonder how many of the existing casinos will survive, I can't see why anyone would go to, say, Resorts or Trump Marina.

[skitzo444]

Haven't we learned not to build two identical towers next to each other that contain things people from foreign countries loathe?

[DrewOnTilt]

These new developments certainly look nice, but can the AC market support them? Competition from the new PA slot parlors and WVA table games is likely to get pretty intense over the next few years.

[Python49]

hmmmm is it possible to buy stock in these new casinos being built?

[Eponymous]

[ QUOTE ]
These new developments certainly look nice, but can the AC market support them? Competition from the new PA slot parlors and WVA table games is likely to get pretty intense over the next few years.

[/ QUOTE ]

That's why they're going more upscale -- to attract a different clientele than the typical slot player. They are building destination resorts on the beach that also have casinos in them. In fact, the Revel planners said they purposely did not make provisions for a bus terminal like a lot of the current AC casinos have. They don't want the day trippers with their rolls of quarters.

[punkass]

[ QUOTE ]
I wonder how many of the existing casinos will survive, I can't see why anyone would go to, say, Resorts or Trump Marina.

[/ QUOTE ]

if they drop their weekend hotel rates, I'll gladly stay at Resorts, then walk on over to the taj or wherever to play some poker. Geez, I hope that happens. Seeing a $150 room rate on the weekend on the boardwalk casino would be a dream.

[Poshua]

[ QUOTE ]
[ QUOTE ]
I wonder how many of the existing casinos will survive, I can't see why anyone would go to, say, Resorts or Trump Marina.

[/ QUOTE ]

if they drop their weekend hotel rates, I'll gladly stay at Resorts, then walk on over to the taj or wherever to play some poker. Geez, I hope that happens. Seeing a $150 room rate on the weekend on the boardwalk casino would be a dream.

[/ QUOTE ]

I agree that there will continue to be a strong and improving market for hotel rooms in AC, so older casino hotels are likely to see spillover business from the general improvement in AC gaming, even as the new resorts add more rooms. This is especially true when the hotels are high quality (I hear the Rendezvous Tower at Resorts is nice, for example).

On the other hand, I think the lower-end resorts will see continuing declines in their gaming revenue, down a double-digit percentage from their peak. I don't know enough about the ratio of hotel to gaming income at these properties to determine how well they can survive a shift like this.

[Temp Hutter]

[ QUOTE ]
if they drop their weekend hotel rates, I'll gladly stay at Resorts, then walk on over to the taj or wherever to play some poker.

[/ QUOTE ]

I did this for a lot of years. With nominal craps and BJ action I got free rooms all the time at Resorts and would just walk across the street to the Taj. It was super convenient and I usually got a meal or two comped as well.

[RobTheDuck]

[ QUOTE ]
hmmmm is it possible to buy stock in these new casinos being built?

[/ QUOTE ]

I briefly checked into Revel, it doesn't appear to be publicly traded.

MGM however, is. Their stock ticker key is MGM

I've thought about this but then realized I know squadoosh about stocks. I'll stick to mutual funds, thanks. Does that make me a TAG investor?

[nineinchal]

[ QUOTE ]
That's why they're going more upscale -- to attract a different clientele than the typical slot player. They are building destination resorts on the beach that also have casinos in them. In fact, the Revel planners said they purposely did not make provisions for a bus terminal like a lot of the current AC casinos have. They don't want the day trippers with their rolls of quarters.

[/ QUOTE ]

Wait and see, the quarter roll people will take the bus to the Showboat, then walk to the Revel.