Smoking Ban or Not, Atlantic City Casinos Going Up In Flames

Atlantic City had big visions. They envisioned going back to a time where their casinos were the best place to be on the East Coast. A time when Frank Sinatra and his Rat Pack could be found at an Atlantic City casino on any given night.

It appears that goal will not be realized anytime soon. The economy has put a damper on the plans to renovate the city back into a gambling mecca, and has destroyed what casinos are currently in operation.

Atlantic City recently agreed on a smoking ban that would include casinos. That ban is being objected to by all casinos and the charge is being led by Donald Trump. Whether or not the ban is delayed, it appears the casinos in Atlantic City are going up in smoke.

"We believe there is a high probability that the Atlantic City marketplace could see more than one casino close its doors in the next two years...," said a gaming analyst for Wachovia Capital Markets, Dennis M. Farrell Jr..

September may prove to be the worst month in the history of casinos in Atlantic City. With Labor Day coming on September 1st this year, most of the profits from that weekend went to August. Even with the jolt at the end of the month, August was a terrible month for casinos.



2008-10-10