Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint
 and got away with an increase of than $180,000 from Caesars Atlantic City on Monday.
Things aren’t great right now in Atlantic City. Gambling enterprises are closing, revenues are falling and profits are drying up after month month. It is a right time when resorts are carefully monitoring every buck that will come in and out of their balance publications. Simply speaking, it’s concerning the time that is worst possible for a six-figure sum to go missing from one associated with the city’s casinos.
According to 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 information that is much the important points of the crime. In accordance with USA Today, trooper Alina Spies said that police were investigating the matter, but they did not want to offer any information that might hinder the research that was underway.
Early Robbery morning
Neighborhood media, citing authorities sources, said that the robbery involved 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. Then they fled the scene in 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 took place inside the casino. If the crime had taken place in a hotel or other area that is public it could be customary for city police to deal with the matter.
While $181,000 may possibly not be much in the grand scheme of things for a casino that is majorCaesars introduced $28.8 million in income during June alone), the theft comes during 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 town’s gambling enterprises have been falling for a long time, and as slot freebies lightning link many as four casinos could find yourself 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 planned for closure later this year, while the Revel, that is currently in bankruptcy court and might close in case a customer just isn’t discovered.
Caesars Atlantic City occupies a big, high-rise building that uses up a block between the famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It is uncertain the way the perpetrators exited or entered the building.
Casino Heists Not Unheard Of
While casino security is virtually second-to-none, that doesn’t mean so it’s impossible for criminals to sometimes pull a heist. The schemes, but, are rarely because complex as something you’d see in Ocean’s 11.
For example, this year, a gunman wearing a motorcycle helmet dashed into the Bellagio on the Las vegas, nevada Strip. He proceeded to steal 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 ended up being sentenced to prison.
Atlantic City Casino Struggles Hurting Regional Economy
Atlantic City’s beaches may help attract tourists who aren’t interested in gambling. (Image: ACHotelExperts.com)
As Atlantic City watches casinos close left and right, officials acknowledge that the town has to get how to diversify as gambling revenues continue to tumble. They also admit that this isn’t going to be a transition that is easy the city has gotten used to relying on the gaming industry, and which will be a hard habit to split. But exactly what might not be immediately apparent is simply how much this shift in priorities could hurt the whole Jersey shore.
Atlantic City’s casinos have long brought tourists to the region, gamblers and others who can then spend time at other venues over 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 linked with the gaming industry in a single way or another. That accounts for around two percent of the state’s total workforce.
‘When Atlantic City suffers, the area that is entire,’ said David Breeden, administrator for the town of Barnegat.
Several Casinos Closing This Year
Up to four Atlantic City casinos which were operating in 2013 may be closed by the end of this season. The Atlantic Club closed in January, as the Showboat and the Trump Plaza are both expected to close in the next few months. The Revel may possibly also shut this year if a buyer can’t be located.
With casino profits under some pressure from rivals in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in terms of gaming revenues), Atlantic City is now trying to find other ways to attract visitors outside of slot machines and dining table games. That does not mean abandoning the casinos altogether, but visitors that are rather giving reason to end by a city that is seemingly regarding the decline.
That could mean more destinations for families, bringing larger conventions to the town, and ensuring amenities exist for folks who are only casual gamblers. But that’s likely to just take some time to perfect, and the change is expected to be rough.
‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not many big corporations that hire individuals down here. The gambling enterprises have already been a boon for people down here.’
A transition that is painful
Even if Atlantic City does find a way to rebound, it’s unclear whether it will ever be just like it ended up being in its gaming heyday. New organizations may create jobs, but there’s no guarantee that they’ll be the same sorts of high-paying opportunities afforded by the casinos.
‘We will endure the pain that comes with transitioning from an economy overly reliant for a industry that is single’ said Atlantic City mayor Don Guardian.
In the bright side, the city does still draw about 27 million visitors each 12 months, so there’s certainly a lot of disposable income to go around if the city will find the right way to capture it. There are also plenty of resources that may help Atlantic City make this kind of transition: there is still the boardwalk that is world-famous as well as the beaches are nevertheless an incredible draw during the summers.
But while wanting to squeeze more out of tourism will certainly help, some specialists believe Atlantic City should look for other opportunities for growth too.
‘I’m all for wanting to increase the size of this non-gaming cake, although not just hospitality and tourism,’ Deborah M. Figart, teacher of training and economics at the Richard Stockton university of New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that aren’t a one- or town that is two-industry those cities tend to do very well and prosper even in times of recession.’
Nevada Casinos Could Ban Smoking in Near Future
More casino areas are going smoke-free, and a ban that is total Nevada casinos could be not far off. (Image: Mel Evans/AP)
The public image of the casino floor was one of smoke-filled tables and a cloudy haze throughout the halls in the old days of gambling. Throughout the years, that vision has largely changed: enter any major casino, and there could be large swaths of smoke-free areas for patrons who does choose a slightly more gambling experience that is breathable. Still, at least in Nevada, there has nevertheless been room for smokers and non-smokers alike.
But in accordance with some analysts, that might be changing soon. Many states with casino gambling have previously outlawed smoking in casinos, and Macau is currently likely to implement a ban later this year. That and other indications have led Deutsche Bank video gaming analyst Andrew Zarnett to predict that the smoking cigarettes ban could come to Nevada in the next two years.
Zarnett cited a combination of the move by Macau, which may now be an industry trendsetter, as well as the study that is continued of dangers of second-hand smoking as factors leading him to believe this type of ban could be coming sooner rather than later on.
Smoking Ban Could Be Costly
But he additionally warned that such a ban could price Nevada casinos a complete large amount of money. He pointed out that other states have experienced significant income declines after passing such laws within the past: Delaware’s casino revenues fell 11.3 percent after a 2002 ban, while Illinois saw a 20.9 percent drop after their own 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it were to do the exact same.
That might mean that such a ban would not be complete, and would nevertheless give smokers a location where they are able to sneak in several puffs that are good. In Macau, cigarette smoking would still be permitted into the high-end areas where VIP gamblers congregate, and you will see special smoking cigarettes rooms with segregated ventilation systems. The latter is actually 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 October 6, just following the Golden Week holiday ends. Any cigarette smoking areas that are built in casinos must account fully for fewer than half associated with the gaming that is overall in each venue.
No Immediate Push for a Ban
According to officials in Nevada, there isn’t any immediate push to ban smoking in casinos anywhere in hawaii, and there is no public groundswell to take action. But even if it were to take place, it may not be the surprise to the machine so it sounds enjoy it could possibly be. In 2006, Nevada voters banned smoking in all public places other than casino floors. And some casino areas are already smoke-free, including many poker rooms and recreations books. The entire World group of Poker was played in an environment that is smoke-free 12 months.
And even though those projections of major losses may be frightening, not everyone agrees that smoking bans are directly related to casino profits.
‘Bad weather, fuel prices, market saturation, competition, casino financial obligation, the recession that began in 2008 that severely impacted all gaming profits, including Vegas, would be the other cards missing from this deck,’ stated Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the reason for revenue declines, rather, it’s bad business preparation.’
And even if the gambling enterprises aren’t planning to put a ban into place right away, Steinberg agrees it shall come eventually.
‘Casino smoking bans are everywhere and inevitable,’ she said. ‘Nevada is next and the gaming industry knows it.’