Wednesday, October 20, 2010

The death of Atlantic City

Atlantic City is doomed as a gambling destination. It's always been just about the gambling, AC never expanded into shopping, shows, tours, etc... as Vegas did. Philly is going to end up eating AC's lunch, it has all the right ingredients: shopping, food, shows, much easier accessibility than AC from NYC and much of the populated regions of NJ. AC casinos are mostly rundown, with the exception of Caesars and the Borgata.I say this while sitting in the first stage of the SugarHouse casino in Philly. Within the next six years I predict multiple casinos will be here in the Penn's Landing area.

Within a year there I bet poker will be readily available and within 5 years there will be sports betting in Philly. Philly will become the high roller destination of choice for overnight and post business trip gambling stints in the east as higher end casinos and hotels open up and the waterfront will be further revitalized. It's strategic position on the northeast corridor will also be a boon. LA has Vegas, DC, NY, and Philly will will have Philly.

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