Piled High... Plenty on the Atlantic City developmental Plate in 2008

December 2007/January 2008

Throughout most of its existence, Atlantic City has always been known as a town where you could do pretty much whatever you wanted, whether you were a private citizen or big time developer.

Before the need for casino gaming arose from the bleak period in Atlantic City’s history, the time during the late sixties and early seventies when the city had turned into a mere shadow of its former Grand self, Atlantic City was a city of firsts. A town that pushed the envelope of development and innovation. Atlantic City, at one time, boasted just about every new thing, invention, gizmo, gadget, or whatchamacallit there was on the planet. Which of course was one of the reasons the town was so successful during its pre-casino, pre-downfall existence. From 1854 to 1964, Atlantic City ruled the promotional world. Nothing was off the table.

Then, of course, came the downfall.

The period from 1964 to 1976 when Atlantic City forgot who it was and what it did in the past that made it so successful.

No one thought a town like Atlantic City could go from the top of the heap to the bottom of the pile in just twelve years. Gone were the free-wheeling, big-dealing, risk taking entrepreneurs who sparked the city throughout much of its successful history.

Replaced by conservative, some would even say, stingy businesspersons, who thought more about maintaining than outdoing, and even the maintaining part was suspect as many of the wonderful hotels were allowed to fall into disrepair by their owners. Once that happened, the dominos were already falling and the city would require a miracle to bring it back to life.

The so-called “miracle” came in the form of casino gaming in 1976, and while the new toy certainly provided Atlantic City with the means to recapture its former glory, it was clear to this writer at the time, that the city needed to get back to doing the things it used to do before the city started to slide. The folks at Boyd Gaming recognized that and moved to capitalize on the void in the city by opening Atlantic City’s first luxurious Hotel with Borgata in 2003. The response from the public to Borgata was overwhelmingly positive, making the newest casino hotel the market leader in just two months. Since then, Borgata has led all of Atlantic City’s casinos in revenue each month, and has generated the the kind of international buzz that Atlantic City had been hoping for during the years prior to Borgata’s opening. That buzz never came because most of the properties would open and then simply suck the market for everything they could. No casino operator could see that one day, the exclusive on casino gaming along the east coast would wear off, and that they may actually have to compete for market share, as opposed to having it handed to them on a silver platter. Once Borgata demonstrated that their casino business model was the right one for the future in Atlantic City, it wasn’t long before current Atlantic City casino operators and international gaming companies world wide began to plan their own versions of Borgata. And, that leads us to today and “What’s On The Plate In 2008?”

My prediction is that 2008 will be remembered by historians as the year Atlantic City really began to take off and separate itself from the rest of the gaming jurisdictions across the country. Yes, you read that right.

After thirty years of casino gaming, the city has finally started to become what many thought it would, just a few years after gamings introduction to the Atlantic City market... as the old saying goes, “better late than never.”

Don’t miss Jack Diamond’s Casino Insider column on page 34, as Jack takes a look at what’s on the casino developmental plate in 2008. It’s a “must read” for those who wish to stay on top of Atlantic City’s casino action. You’ll also want to check out the entertainment coming into Atlantic City over the next seven months. That’s right, the most comprehensive and complete casino entertainment calendar anywhere can be found on page 35. Complete with all of the headliners, bands, and casino stage shows, as well as special events. The entire seven months worth of entertainment delivered on one page for easy reference. Without a doubt, the single most important page in the Insider Magazine information arsenal.

Another “must read’ is the “Events Highlight” column which begins on page 25, the lead page to “LIVE,” the most complete look at what’s happening in all of Atlantic and Cape May Counties right through April 2008. How’s that for a little peek ahead?

Other goodies on the 2008 plate...

Casino development isn’t the only thing happening in 2008 in the “City That’s Always Turned On.” Not by a long shot.

Almost everywhere you look there’s a new residential or condominium development being built. Even more telling, is the fact that businesses are beginning to relocate back to the city after moving away during the lean years. New, independent businesses are opening as well, and without all of the tax abatements and incentives given to other, internationally recognized companies that are part of The Walk, or The PierAt Caesars, two retail shopping and dining outlets which have been given unprecedented tax breaks by the city even in the wake of record business sales. With all due respect to the astute owners of those two shopping destinations, it’s time for the city to revisit the tax giveaway, put in place for the owners as a hedge against a slow response from the public. Well, the jury is in and the public has responded... in record numbers I might add. The tax breaks are not needed and those businesses should start paying their fair share of the freight.

Well, that’s it for this issue. I hope you, and everyone that’s close to you, has a great time in 2008. And, be sure to drop me a line to let me know if we left anything out that should be included. I can be reached at dklein@acinside.com.

Until next month, Salute!

Dan Klein is publisher of the South Jersey Insider Magazine, as well as host of the weekly radio show by the same name, heard Saturdays from 1PM to 4PM on LifeRadio 1020 AM - WIBG.