Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint

Things are not great right now in Atlantic City. Casinos are shutting, revenues are dropping and profits are drying up month after month. It is a right time when resorts are carefully monitoring every buck that will come in and out of their stability publications. In short, it’s about the time that is worst possible for the six-figure sum to go missing in one associated with the city’s casinos.
Based on police, two masked thieves walked out of Caesars Atlantic City with an increase of than $180,000 on Monday after a smash-and-grab raid on the casino. The robbery reportedly happened on Monday early morning, though police did not immediately release much information about the facts of the crime. According to United States Of America Today, trooper Alina Spies said that police were investigating the matter, but that they didn’t want to offer any information which may hinder the investigation that was underway.
Early Morning Robbery
Regional media, citing police sources, stated that the robbery included two suspects who entered Caesars Atlantic City around 6 am. At least one of them had a gun and pulled it before stealing two plastic boxes that contained the stolen cash. They then fled the scene in a motor car at approximately 6:20 am, according to a police bulletin.
The case is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery occurred within the casino. If the crime had happened in a hotel or other public area, it would be customary for city police to manage the matter.
While $181,000 may not be much in the grand scheme of things for a casino that is majorCaesars earned $28.8 million in revenue during June alone), the theft comes at the worst possible time for an Atlantic City venue. The city has been struggling seemingly on all fronts, and that’s mostly driven by struggling casino properties. Revenues at the city’s casinos have been falling for a long time, so when many as four casinos could wind up closing throughout the span of 2013.
August one of those casinos, the Showboat, is operated by Caesars and is scheduled to close at the end of. Others include the Atlantic Club, which closed in January, the Trump Plaza, which is scheduled for closure later this year, as well as the Revel, which can be currently in bankruptcy court and aussie-pokies.club could close in cases where a customer just isn’t found.
Caesars Atlantic City occupies a big, high-rise building that uses up a block between your famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It’s unclear the way the perpetrators exited or entered the building.
Casino Heists Not Unheard Of
While casino security is virtually second-to-none, that does not mean it’s impossible for crooks to pull a heist occasionally. The schemes, nonetheless, are rarely as complex as something you’d see in Ocean’s 11.
For example, this year, a gunman wearing a bike helmet dashed into the Bellagio regarding the nevada Strip. He proceeded to take potato chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, ended up being fundamentally caught months later on and was sentenced to jail.
Atlantic City Casino Struggles Hurting Regional Economy
Atlantic City’s beaches could help attract tourists that aren’t interested in gambling. (Image: ACHotelExperts.com)
As Atlantic City watches gambling enterprises close left and right, officials acknowledge that the city will have to locate methods to diversify as gambling revenues continue steadily to tumble. In addition they acknowledge that this isn’t going to be a effortless transition: the city has gotten used to relying on the gaming industry, and which is a hard habit to break. But just what might never be immediately obvious is the amount of this shift in priorities could hurt the Jersey that is entire shore.
Atlantic City’s casinos have very long brought tourists to the location, gamblers and others that will spend time at then other venues along the shore. But it’s more than that: according to a 2008 study by Rutgers University, some 100,000 jobs in New Jersey had been associated with the gaming industry in a single way or another. That accounts for around two percent regarding the state’s total workforce.
‘When Atlantic City suffers, the entire area suffers,’ said David Breeden, administrator for town of Barnegat.
Several Casinos Closing This Year
Up to four Atlantic City casinos that were operating in 2013 may be closed by the end of this season. The Atlantic Club closed in January, as the Showboat therefore the Trump Plaza are both expected to close in the next months that are few. The Revel could also close this if a buyer can’t be found year.
With casino profits under great pressure from rivals in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in terms of gaming revenues), Atlantic City is now attempting to locate other ways to attract visitors outside of slot devices and table games. That doesn’t mean abandoning the casinos entirely, but instead giving visitors more reason to stop by a city that is seemingly regarding the decline.
That could mean more attractions for families, bringing larger conventions to the city, and making certain amenities is there for folks who are only casual gamblers. But that’s planning to take some time to perfect, and also the change is anticipated to be rough.
‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not numerous big corporations that hire individuals down here. The gambling enterprises have already been a boon for individuals down here.’
A Painful Transition
Even if Atlantic City does find a way to rebound, it’s unclear whether it’ll ever be just like it ended up being in its gaming heyday. New businesses may create jobs, but there is no guarantee that they’re going to end up being the same types of high-paying opportunities afforded by the casinos.
‘We will endure the pain sensation that comes with transitioning from an economy extremely reliant on a single industry,’ said Atlantic City mayor Don Guardian.
The city does still draw about 27 million visitors each year, so there’s certainly plenty of disposable income to go around if the city can find the right way to capture it on the bright side. There are also plenty of resources which could help Atlantic City make this type of transition: there’s still the boardwalk that is world-famous and also the beaches are nevertheless an excellent draw through the summers.
But while attempting to squeeze more out of tourism will certainly assist, some experts believe Atlantic City should look for other possibilities for growth also.
‘I’m all for wanting to increase the size of this pie that is non-gaming but not just hospitality and tourism,’ Deborah M. Figart, professor of education and economics at the Richard Stockton College of New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that are not a one- or two-industry city, those cities have a tendency to prosper and prosper even yet in times of recession.’
Nevada Casinos Could Ban Smoking in Near Future
More casino areas ‘re going smoke-free, and a ban that is total Nevada casinos could be coming soon. (Image: Mel Evans/AP)
Back many years ago of gambling, the general public image of the casino floor was one of smoke-filled tables and a cloudy haze through the entire halls. Within the years, that vision has largely changed: enter any major casino, and there are likely to be large swaths of smoke-free areas for patrons who would choose a slightly more breathable gambling experience. Still, at the very least in Nevada, there has nevertheless been room for smokers and non-smokers alike.
But in accordance with some analysts, which may be changing soon. Many states with casino gambling have already outlawed smoking in casinos, and Macau is currently about to implement a ban later this year. That and other indications have led Deutsche Bank gaming analyst Andrew Zarnett to predict that the smoking ban could come to Nevada in the next two years.
Zarnett cited a variety of the move by Macau, which could now be a business trendsetter, as well as the study that is continued of risks of second-hand cigarette smoking as factors leading him to think that this kind of ban might be coming sooner in the place of later on.
Smoking Ban Could Be Costly
But he additionally warned that such a ban could price Nevada casinos large amount of money. He noticed that other states have experienced significant income declines after passing such laws in the past: Delaware’s casino revenues fell 11.3 percent following a 2002 ban, while Illinois saw a 20.9 percent drop after their very own 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it were to complete exactly the same.
That might mean that such a ban would not be complete, and would nevertheless give smokers a place where they could sneak in a couple of good puffs. In Macau, smoking would nevertheless be allowed in the high-end areas where VIP gamblers congregate, and you will have special smoking rooms with segregated ventilation systems. The latter is the solution now set up in Las Vegas’ international airport, McCarran, where smokers sit inside large lucite-surrounded free-standing ‘rooms’ that are completely closed off from the primary airport areas, where smoking is forbidden.
The Macau ban will go into effect on 6, just after the Golden Week holiday ends october. Any smoking cigarettes areas which can be built in gambling enterprises must account fully for fewer than half of the overall gaming area in each venue.
No Immediate Push for a Ban
According to officials in Nevada, there is no immediate push to ban smoking in casinos anywhere in the state, and there has been no public groundswell to take action. But even if it had been to occur, it may not be the surprise to the device it sounds like it might be. In 2006, Nevada voters banned cigarette smoking in all public places other than casino floors. And some casino areas are already smoke-free, including numerous poker rooms and sports books. The entire World number of Poker was played in a smoke-free environment this 12 months.
And even though those projections of major losings may be frightening, not everyone agrees that smoking bans are directly associated to casino profits.
‘Bad weather, gas costs, market saturation, competition, casino financial obligation, the recession that began in 2008 that severely impacted all video gaming profits, including Vegas, will be the other cards lacking out of this deck,’ stated Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the reason behind revenue declines, rather, it’s bad business preparation.’
And even if the casinos aren’t likely to put a ban into place right away, Steinberg agrees it will come eventually.
‘Casino smoking bans are everywhere and inevitable,’ she said. ‘Nevada is next and the gaming industry understands it.’