The president of the AGA said that Atlantic City is in the right direction as investors are ready to help the city.
US.- Geoff Freeman, president and chief executive officer of the American Gaming Association (AGA) said that companies are interested in investing million of dollars in Atlantic City, therefore the territory could experience a bright future. The official shared his insight during an event at Stockton University.
“The Atlantic City market is an exciting market right now. There is no doubt the market right-sized itself over the last couple of years. While the closing of the facilities was painful for many, it strengthened the community; it strengthened Atlantic City’s potential for the future,” said Freeman, who named the opening of the Hard Rock casino next summer as one of the upcoming businesses in the city, Press of Atlantic City reported. Moreover, he talked about the possible reopening of the formerly known TEN, and what it could mean for the market.
The summer of 2018 opening of the Hard Rock casino in Atlantic City, known in the past as Trump Taj Mahal, might include restaurant and poolside gambling, fantasy sports betting, skill-based slots and hidden VIP gambling rooms. During a conference earlier this year, Chairman of Hard Rock International Jim Allen said that the proposal is set to create more than 1000 construction jobs and once it’s finalised, additional 3000 permanent jobs will be set in place. The renovated venue will change its name to Hard Rock Hotel & Casino Atlantic City.
“No state is better positioned than New Jersey and no location is better positioned than Atlantic City to quickly capitalize on it. This area has been talking about it for years, so there is going to be no debate if we should have it. The casinos are already scouting out where the sports books will be located.” Freeman believes that people spending money in the city and not taking it out is exciting, and that optimism and confidence about the future should be given to the people.
“Atlantic City and the state of New Jersey learned many painful but important lessons over the last decade. I don’t see anything like what we went through over the last couple of years repeating itself. That being said, the market being more competitive does create new challenges — some of which are very good.”
Earlier this month, the office of the Governor Chris Christie revealed that Jeffrey Chiesa, in charge of Atlantic City’s finances, settled all the outstanding tax appeals for the city, which will pay US$80 million to the casinos involved. The agreement covered the 2016 cases for Bally’s, Golden Nugget, Caesars and Harrah’s, 2015 and 2016 for Tropicana, 2014 to 2016 for the former Trump Taj Mahal and 2014 to 2017 for the former Trump Plaza.