Top 3 Growth Stocks for 2024 and Ultimate Investment Guide

By applying a reliable and consistent strategy anyone can build a portfolio that's tailored to their particular retirement goals. To make things easier we have assembled a brand new report on how to find the best stocks and industries to invest in, along with our 3 TOP STOCKS for 2024.

By clicking the link above you will automatically opt-in to receive emails from FinStrategist

Not only New York casinos threaten Atlantic City. Developer predicts Meadowlands casino is coming

WAYNE PARRY
April 18, 2024

ATLANTIC CITY, N.J. (AP) -- Atlantic City casinos are facing threats on multiple fronts from new competitors not just in New York, but from within their own state.

That's not great news for a seaside resort in which the amount of money won from in-person gamblers continues to lag, with seven of the nine casinos winning less from on-premises customers than they did before the COVID-19 pandemic hit.

At the East Coast Gaming Congress Thursday at the Hard Rock casino, numerous executives from some of the major casino companies in America acknowledged the opportunity of three downstate New York casino licenses -- and the risk they will present to Atlantic City.

And the operator of a racetrack in northern New Jersey, just outside New York City, told The Associated Press he believes New Jersey voters will authorize construction of a casino in the Meadowlands shortly after New York casinos open and New Jersey gamblers tire of paying bridge tolls and sitting in traffic to get to gambling halls in New York.

"Now more than ever we know there's a threat coming with New York City gaming coming," Atlantic City Mayor Marty Small said at the conference. "We understand the threat. We want to continue to work together to do things right to put Atlantic City into a prime position, no matter where these casinos are, that we diversify our options."

Jim Allen, chairman of Hard Rock International, is straddling both markets.

His company operates a casino in Atlantic City that is the second-most successful in the market. And Hard Rock is partnering with New York Mets owner Steve Cohen on a proposed $8 billion casino complex at Citi Field in the city's Queens section.

If as many as three casino open in or close to New York City, Allen said, Atlantic City's in-person gambling revenues could fall by 20% to 30%.

"We have to be prepared for that," he told attendees at the conference.

Allen said Atlantic City's Hard Rock will weather the storm of New York competition. But he said he does not want to see any competitors in the city close, throwing 2,000 to 3,000 people out of work in a repetition of a wave of casino closings in Atlantic City from 2014 to 2016 that saw five casinos close. Two have since reopened under new ownership.

Tom Reeg. CEO of Caesars Entertainment, which owns three of Atlantic City's nine casinos, also said New York casinos will be a challenge. His company, too, is seeking a New York casino license with SL Green, and Roc Nation in Times Square.

"We're pursuing that license with fervor," Reeg said. "I share Jim's concern about where the (Atlantic City) market is headed as we head into New York."

Soo Kim, chairman of Bally's Corporation, which has a casino in Atlantic City, said table games revenue from New York gamblers "will be harder to attract" once casinos open in New York City. "With casinos in New York, Pennsylvania and Delaware, there's casinos everywhere."

He said New Jersey can rely on its robust internet gambling market to offset some expected losses.

Concerns don't end with New York.

Jeff Gural runs the Meadowlands Racetrack in East Rutherford, New Jersey, just outside New York City, along with the Tioga Downs and Vernon Downs racetrack casinos in upstate New York.

He also has a deal with Hard Rock to build a casino at the Meadowlands Racetrack -- a proposal that was put on the back burner when New Jersey voters overwhelmingly rejected a referendum on expanding casino gambling beyond Atlantic City in 2016.

"I'm just waiting for New York to open," Gural said in an interview. "People will say, 'Why am I driving over the George Washington Bridge and paying an $18 toll and sitting in traffic to go gamble?'"

Gural said the 2016 referendum failed largely because it was written to permit more than one casino in northern New Jersey without specifying where.

"People don't want a casino in the neighborhood," Gural said. "If we make it clear it's only at the Meadowlands, common sense tells you there will be a casino in the Meadowlands."

Gural said that will happen in "a lot sooner than 10 years."

Mark Giannantonio, president of Atlantic City's Resorts casino and of the Casino Association of New Jersey, said during Wednesday's opening day session of the convention that Atlantic City views New York casinos as a threat.

"New Jersey has to be prepared for this, to make Atlantic City more attractive for people to visit, and there's a lot of work to do," he said. "Table games clearly will be impacted."

He said Atlantic City has a "two-year window" to prepare for New York competition by cleaning itself up, improving its infrastructure, and assigning more police to the Boardwalk and other areas so visitors see a visible law enforcement presence. He also said Atlantic City needs to solve its problem with homelessness.

But Giannantonio said Atlantic City can survive the advent of new competition in an already cutthroat northeastern casino market.

"I'm always going to rely on hotel, entertainment, retail and the experience on the casino floor," he said. "I believe in my heart that Atlantic City, with some hard work, will be an opportunity. We're excited about the future."

___

Follow Wayne Parry on X, formerly Twitter, at https://twitter.com/WayneParryAC.

Continue Reading...

Popular

Change Healthcare cyberattack was due to a lack of multifactor authentication, UnitedHealth CEO says

The Change Healthcare that disrupted health care systems nationwide earlier this year started when hackers entered a server that lacked a basic form of security: multifactor authentication.

Campaign to build new California city submits signatures to get on November ballot

SAN FRANCISCO (AP) — A wealthy Silicon Valley-backed campaign to build a green city for up to 400,000 people in the San Francisco Bay Area has submitted what it says are enough signatures to qualify the initiative for the November election.

The A.I. Story Nobody is Telling You (Read ASAP) - Ad

There's been a lot of buzz surrounding A.I. over the past couple of years -- but there's only ONE story you should be worried about. Whether you have $500 or $500,000, this radical new A.I. Innovation will have a direct impact on your wealth.

Electric Company PPL Powers Past Q1 Estimates, Eyes Bright Future

PPL Corporation beat revenue and EPS consensus in Q1 FY24, with Y/Y growth in electricity sales. Outlook and dividend growth reaffirmed.

Can Warren Buffett's Successors Maintain Berkshire Hathaway's Momentum?

Warren Buffett's potential successors, Todd Combs and Ted Weschler, are trailing the S&P 500 index, raising concerns about the future of Berkshire Hathaway.

See This Before This Week's Fed Meeting - Ad

Thousands of investing ideas come across his desk every year... But Doc Eifrig just revealed THIS ONE "will go down as one of the smartest and most lucrative financial moves of the decade." (Last time we shared this, it led to a 995% gain.)

Bill Gates Shares Heartwarming Scuba Diving Photo With Daughter On Her 28th Birthday: 'I'm In Awe Of How You Dive Headfirst Into Everything.'

Bill Gates and Melinda French Gates each shared heartfelt social media posts to celebrate their daughter Jennifer's 28th birthday, highlighting her achievements as a mother, medical student, and equestrian.

South Korea's 5-Year Plan To Grow Its Console Gaming Market By 2028

South Korea's plan to boost console gaming, diversifying from mobile platforms, through strategic partnerships and market growth projections

Why James Altucher SOLD All His Bitcoin - Ad

Crypto genius James Altucher has been praising Bitcoin since it was trading for $61. But now he's buying another coin like crazy... and it's not Bitcoin!

Lilly rides Mounjaro, Zepbound to better-than-expected 1Q profit despite supply issues

Rapidly climbing sales of the and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first-quarter profit.

Olympic track uniforms spark online debate about who designed them and why they're so skimpy

PARIS (AP) — U.S. track and field athletes have around four dozen pieces to choose from when assembling their uniforms at the Olympics. The one grabbing the most attention is a high-cut leotard that barely covers the bikini line and has triggered debate between those who think it is sexist and others who argue they don't need the internet to make sure they have good uniforms.

Jeff Bezos' Next Trillion Dollar Bet (shocking) - Ad

Wall Street legend has just uncovered one tiny Maryland company that could become the next Nvidia. Few in the media are talking about this story yet...but in the next 6 months that's all they'll talk about.

Trump vs. Biden: Nationwide Poll Shows Key Issue Decidedly Tilts Equation In Favor Of One Candidate

Even though the economy has been relatively stable despite challenges, voters remain unconvinced about the Biden administration's performance.

Ethereum's Bottom Against Bitcoin 'Still Likely A Few Months Away,' Predicts Crypto Analyst

Prominent cryptocurrency analyst Benjamin Cowen predicted further bearish momentum for Ethereum (CRYPTO: ETH) to Bitcoi

What Should You Be Doing To "A.I.-Proof" Your Retirement? - Ad

A.I. is creeping into every aspect of our daily lives... According to billion-dollar fund manager Louis Navellier, it's never been more important to A.I.-proof your wealth. He lays out three simple steps to take ASAP in his latest video.

How Much Will Taylor Swift's Net Worth Grow With 'The Tortured Poets Department'?

How much will Taylor Swift's 'The Tortured Poets Department' boost her net worth? Get expert insights here

Mysterious Gold Leverage Just Announced - Ad

Ex-Goldman Sachs VP reveals a secret of the rich and connected that lets you tap into the upside of a huge amount of real, physical gold for just a few dollars at a time. He says the upside could be near 1,000% in the coming future.

Courtroom Appearances By These Two Members Of Donald Trump's Family Could Help Him In Hush-Money Trial, Say Experts

As former President Donald Trump faces a hush-money trial, legal experts suggest that the presence of his wife, former First Lady Melania Trump, and daughter, Ivanka Trump, could significantly influence t

Oil sprays from an ANA flight carrying 213 people as it lands in northern Japan

TOKYO (AP) — Oil sprayed from an All Nippon Airways plane as it landed Wednesday at Shin Chitose airport in northern Japan, but none of the 213 people on board was injured, officials said.

Has Jeff Bezos Found the Next Nvidia? - Ad

Wall Street legend has just uncovered one tiny Maryland company that could become the next Nvidia. Few in the media are talking about this story yet...but in the next 6 months that's all they'll talk about.

Jim Cramer Turns Bullish On Palantir: 'Make A Move And Buy Some'

CNBC’s “Mad Money” host Jim Cramer has given a thumbs up to Palantir Technologies Inc. (NYSE:PLTR), sparking interest among investors.

Small A.I. Firm Wins $2 Billion in Contracts for Breakthrough "Living Software" - Ad

Denver firm proves its possible to use AI to save the lives of soldiers in combat. England, Germany, Japan and Australia have all signed contracts within the past 18 months.

After Biden Signs TikTok Ban Into Law, Top EU Leader Says Not Ruling Out Action Against Chinese Platform: 'We Know Exactly The Danger'

European Commission President Ursula von der Leyen stated that a TikTok ban in the EU is a possibility, mirroring steps already taken against the platform on Commission corporate phones.

Germany's Scholz calls for fair competition and warns against dumping during China visit

BEIJING (AP) — German Chancellor Olaf Scholz called for fair competition in trade relations with China while warning about dumping and overproduction as he spoke to students in Shanghai on Monday.

Savvy Investors Notice "Wonder Metal" in iPhone - Ad

Apple has made use of this unique metal extensively in the new iPhone describing it as having "one of the best strength-to-weight ratios of any metal". It's not just Apple though, with applications in aerospace, defense, and medical devices, titanium has become essential...Unfortunately, 90% of the supply is controlled by adversarial nations meaning a supply disruption would have paralyzing effects on daily life in the US.

If O.J. Simpson's assets go to court, Goldman, Brown families could be first in line

LOS ANGELES (AP) — without having paid the lion’s share of the $33.5 million judgment a California civil jury awarded to the families of his ex-wife Nicole Brown Simpson and her friend .

Poland is still not ready to adopt the euro, its finance minister says

WARSAW, Poland (AP) — Twenty years after joining the European Union, Poland is still not ready to adopt the euro currency, the finance minister in the pro-European Union government said.

READ THIS If You Missed Out on the AI Boom - Ad

Radical new biotechnology predicted to grow 320,000% in 3 years. Nvidia's CEO calls it "the next amazing revolution." And one small company poised to dominate this revolution trades for just $10.

Atlantic City mayor: I'm committed to my family and city while dealing with daughter abuse charges

ATLANTIC CITY, N.J. (AP) — Atlantic City Mayor Marty Small said Thursday he remains committed to his family and to his city as he deals with charges that he and his wife

Biden administration details how producers of sustainable aviation fuel will get tax credits

The Biden administration spelled out guidelines Tuesday for tax breaks designed to boost production of sustainable aviation fuel and help curb fast-growing emissions from commercial airplanes.

The Next Nvidia? - Ad

Wall Street legend has just uncovered one tiny Maryland company that could become the next Nvidia. Few in the media are talking about this story yet...but in the next 6 months that's all they'll talk about.

Native American-led nonprofit says it bought 40 acres in the Black Hills of South Dakota

A Native American-led nonprofit has announced that it purchased nearly 40 acres (16.2 hectares) of land in the Black Hills of South Dakota amid a growing movement that

An NPR editor who wrote a critical essay on the company has resigned after being suspended

NEW YORK (AP) — A National Public Radio editor who wrote an essay criticizing his employer for promoting liberal views resigned on Wednesday, a day after it was revealed that .

Biden's Closed-Door AI Meeting - Ad

Things are moving so fast, President Biden just met with 8 of the top AI experts in the world to figure out how to regulate it. And this small-cap is at the center of this AI-biotech revolution.

Elizabeth Warren Says Trump Had Only 2 Accomplishments As President: 'Huge Difference Between' Biden, Trump

Elizabeth Warren thinks Donald Trump only accomplished two things when he was president and neither is highlighted as a positive by the senator.

Top 3 Financial Stocks That Are Ticking Portfolio Bombs

As of April 11, 2024, three stocks in the financial sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Did This Crypto Millionaire Humiliate Himself? - Ad

On September 2022, crypto millionaire James Altucher published a video saying he had sold all his Bitcoin... and doubled down on this crypto instead. At the time, cryptos had already dropped 70%. But James still said this crypto was a good investment. Was he right? Or did he embarrass himself?

Dead whale in New Jersey had a fractured skull among numerous injuries, experts find

LONG BEACH TOWNSHIP, N.J. (AP) — A post-mortem examination of a whale that washed ashore on New Jersey's Long Beach Island found that the animal had sustained numerous blunt force injuries including a fractured skull and vertebrae.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service