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Atlantic City New Jersey Casinos Continue To Flounder

Gross operating profit reportedly dropped nearly 20% in Q2 of 2009  for the 11 Atlantic City, New Jersey casinos down approximately $49 million dollars from 247.3 million for the 2nd Quarter of 2008.
Despite some signs of an economic recovery, Atlantic City and New Jersey as a whole, are still experiencing increasing unemployment.  The drop in [...]

Atlantic City New Jersey Unemployment Help

New Jersey employment losses continue to grow with the unemployment rate reaching a record high.  Most sectors of the economy have been effected by the employment losses but the professional services industry has been particularly hard hit.
The Atlantic City, New Jersey metropolitan area has been a hotbed of layoffs and employment cut backs.
Being laid off [...]

Will Icahn Save The Atlantic City Tropicana Resort?

Billionaire investor Carl Icahn, among others, acquired the Tropicana Casino and Resort in Atlantic City, New Jersey on Monday, buying up the defunct hotels $200 million in debt for just 27 cents on the dollar.
Initial reports are that the investment group will remain conservative in its plans to rebuild the once majestic resort and gambling [...]

Will The Revel In Atlantic City Prove a New Business Model?

As business in Atlantic City casinos continues to fall at a record pace and unemployment continues to rise, Revel Entertainment, LLC is building a new multi-billion dollar casino and resort.
However, the new project will not only concentrate on gambling as a source of revenue but will look to differentiate itself by selling an experience.
Atlantic City [...]

Employment Pay Cuts Sweep Atlantic City Casinos

The casino industry is proving that it is not recession proof as it continues to cut costs to deal with the decrease in revenues it is experiencing in 2009.
Many casinos in Atlantic City have laid off or reduced pay for hourly workers but those in the high offices are experiencing the pain too.
Managers at casinos [...]

New Jersey Job Loss Slows

In tough economic times, the good news is really just not so bad news.  The numbers from May indicated that New Jersey job losses were not as significant as prior months, indicating a possible slow down in unemployment.
For May of 2009, the New Jersey Department of Labor and Workforce Developement reported a loss of 6,600 [...]

Atlantic City Casino Worker Protests Continue

Traffic was held up on Pacific Avenue for a time when approximately 200 protesters hit the streets of Atlantic City, New Jersey.
The protest was organized by the young UAW/AC Union and its members to protest the slow negotiations they are experiencing with Atlantic City casino management.
Many workers from Atlantic City’s largest casinos including Trump Casino, [...]