Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint
Things are not great right now in Atlantic City. Casinos are closing, profits are dropping and profits are drying up month after month. It’s really a right time when resorts are carefully monitoring every dollar that is available in and out of their stability publications. In short, it’s concerning the time that is worst possible for the six-figure sum to go missing in one of the city’s casinos.
In accordance with police, two masked thieves walked out of Caesars Atlantic City with increased than $180,000 on Monday after a raid that is smash-and-grab the casino. The robbery reportedly took place on Monday early morning, though police did not immediately release information that is much the important points of the crime. According to United States Of America Today, trooper Alina Spies said that police were investigating the matter, but that they didn’t want to deliver any information which may hinder the investigation that was underway.
Early Morning Robbery
Neighborhood media, citing authorities sources, stated that the robbery involved two suspects whom entered Caesars Atlantic City around 6 am. aussie-pokies.club At least one of them had a gun and pulled it before stealing two synthetic boxes that contained the stolen cash. They then fled the scene in car at approximately 6:20 am, according up to a police bulletin.
The scenario is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery happened inside the casino. If the crime had occurred in a hotel or other area that is public it would be customary for city police to manage the matter.
While $181,000 may not be much in the grand scheme of things for a major casino (Caesars brought in $28.8 million in revenue during June alone), the theft comes during the worst possible time for an Atlantic City venue. The city has been struggling seemingly on all fronts, and that’s mostly driven by struggling casino properties. Revenues at the town’s gambling enterprises have been falling for decades, and as many as four casinos could wind up closing throughout the span of 2013.
Some of those casinos, the Showboat, is operated by Caesars and is scheduled to close at the end of August. Others include the Atlantic Club, which closed in January, the Trump Plaza, which is scheduled for closure later this present year, and the Revel, that will be currently in bankruptcy court and may close in cases where a buyer is not found.
Caesars Atlantic City occupies a large, high-rise building that takes up a block between the famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It is uncertain how the perpetrators entered or exited the building.
Casino Heists Not Unheard Of
While casino security is virtually second-to-none, that doesn’t mean that it’s impossible for criminals to periodically pull a heist. The schemes, but, are rarely because complex as something you’d see in Ocean’s 11.
For example, in 2010, a gunman wearing a motorcycle helmet dashed to the Bellagio on the Las Vegas Strip. He proceeded to steal chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, ended up being fundamentally caught months later and had been sentenced to prison.
Atlantic City Casino Struggles Hurting Regional Economy
Atlantic City’s beaches may help attract tourists that aren’t interested in gambling. (Image: ACHotelExperts.com)
As Atlantic City watches gambling enterprises close left and right, officials admit that the populous city may have to get techniques to diversify as gambling revenues continue to tumble. They also admit that this isn’t going to be a easy transition: the city has gotten used to relying on the gaming industry, and which is a hard habit to split. But exactly what might not be immediately obvious is simply how much this shift in priorities could hurt the Jersey that is entire shore.
Atlantic City’s casinos have very long brought tourists to the location, gamblers and others who will then spend time at other venues over the shore. But it’s more than that: according to a 2008 study by Rutgers University, some 100,000 jobs in New Jersey had been linked with the video gaming industry in a single way or another. That accounts for about two percent associated with the state’s total workforce.
‘When Atlantic City suffers, the area that is entire,’ said David Breeden, administrator for the city of Barnegat.
Several Casinos Closing This Year
Up to four Atlantic City casinos which were operating in 2013 may be closed by the end of in 2010. The Atlantic Club closed in January, even though the Showboat plus the Trump Plaza are both expected to close in the next few months. The Revel could also shut this if a buyer can’t be found year.
With casino profits under pressure from rivals in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in terms of gaming revenues), Atlantic City is now attempting to locate other methods to attract visitors outside of slot devices and dining table games. That doesn’t mean abandoning the casinos altogether, but rather giving visitors more reason to end by way of a city that is seemingly regarding the decline.
That could mean more tourist attractions for families, bringing larger conventions to the town, and making sure amenities is there for those who are only gamblers that are casual. But that’s likely to just take some right time to perfect, as well as the change is expected to be rough.
‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not many corporations that are big hire individuals down here. The casinos have already been a boon for individuals down here.’
A transition that is painful
Even if Atlantic City does manage to rebound, it’s unclear as it was in its gaming heyday whether it will ever be the same. New businesses may create jobs, but there’s no guarantee that they’ll be the same sorts of high-paying opportunities afforded by the casinos.
‘We will endure the pain sensation that comes with transitioning from an economy overly reliant on a industry that is single’ said Atlantic City mayor Don Guardian.
In the bright side, the town does still draw about 27 million visitors each 12 months, so there’s certainly a good amount of disposable earnings to go around if the city will find the right way to capture it. There are also plenty of resources which could help Atlantic City make this type of transition: there’s still the world-famous boardwalk, therefore the beaches are still an excellent draw during the summers.
But while attempting to squeeze more out of tourism will certainly help, some experts believe Atlantic City should search for other opportunities for growth as well.
‘I’m all for wanting to increase the size regarding the pie that is non-gaming but not just hospitality and tourism,’ Deborah M. Figart, professor of education and economics during the Richard Stockton College of New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that are not a single- or two-industry town, those cities have a tendency to do very well and prosper even yet in times of recession.’
Nevada Casinos Could Ban Smoking in Near Future
More casino areas ‘re going smoke-free, and a ban that is total Nevada casinos could be just around the corner. (Image: Mel Evans/AP)
In the old days of gambling, the general public image of the casino floor had been one of smoke-filled tables and a cloudy haze through the entire halls. On the years, that vision has largely changed: enter any major casino, and there will tend to be large swaths of smoke-free areas for patrons that would prefer a slightly more breathable gambling experience. Nevertheless, at the very least in Nevada, there has nevertheless been room for smokers and non-smokers alike.
But based on some analysts, that may be changing soon. Many states with casino gambling have already outlawed smoking in casinos, and Macau is currently likely to implement a ban later this year. That and other indications have actually led Deutsche Bank gaming analyst Andrew Zarnett to predict that a smoking ban could come to Nevada in the next two years.
Zarnett cited a mixture of the move by Macau, which could now be a market trendsetter, as well as the study that is continued of perils of second-hand smoking cigarettes as factors leading him to think that such a ban might be coming sooner in place of later.
Smoking Ban Could Be Expensive
But he also warned that such a ban could price Nevada casinos a complete lot of money. He noticed that other states have observed significant revenue declines after passing such laws within the past: Delaware’s casino revenues fell 11.3 % following a 2002 ban, while Illinois saw a 20.9 percent drop after their own 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it had been to complete exactly the same.
That might mean that such a ban would not be complete, and would nevertheless give smokers a place where they could sneak in a few good puffs. In Macau, cigarette smoking would still be permitted within the high-end areas where VIP gamblers congregate, and you will see special cigarette smoking rooms with segregated ventilation systems. The latter is in fact the solution now set up in Las Vegas’ international airport, McCarran, where smokers sit inside large lucite-surrounded free-standing ‘rooms’ that are completely closed off from the main airport areas, where smoking cigarettes is forbidden.
The Macau ban goes into effect on October 6, just following the Golden Week holiday ends. Any smoking areas which can be built in gambling enterprises must account fully for fewer than half of the gaming that is overall in each venue.
No Immediate Push for a Ban
According to officials in Nevada, there’s no push that is immediate ban smoking in gambling enterprises anywhere in hawaii, and there has been no general public groundswell to do so. But even that it sounds like it could be if it were to happen, it may not be the shock to the system. In 2006, Nevada voters banned smoking in all public places other than casino floors. And some casino areas already are smoke-free, including poker that is many and activities books. The entire World variety of Poker had been played in an environment that is smoke-free 12 months.
And even though those projections of major losses may be scary, not everyone agrees that smoking bans are directly associated to casino profits.
‘Bad weather, gasoline prices, market saturation, competition, casino debt, the recession that began in 2008 that severely impacted all gaming revenues, including Vegas, are the other cards lacking from this deck,’ said Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the cause of revenue declines, rather, it is poor business planning.’
And even if the gambling enterprises aren’t about to place a ban into place right away, Steinberg agrees so it shall come eventually.
‘Casino smoking bans are everywhere and inevitable,’ she said. ‘Nevada is next and the gaming industry knows it.’