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

Things aren’t great right now in Atlantic City. Casinos are shutting, revenues are falling and profits are drying up month after month. It’s really a right time when resorts are carefully monitoring every dollar that is available in and out of their stability publications. In short, it’s in regards to the time that is worst possible for the six-figure sum to go lacking from a single regarding the city’s casinos.
Based on police, two masked thieves walked out of Caesars Atlantic City with additional than $180,000 on Monday after a raid that is smash-and-grab the casino. The robbery apparently took place on Monday early morning, though police did not immediately release much information about the details of the crime. According to USA Today, trooper Alina Spies said that police were investigating the matter, but they don’t want to offer any information that may hinder the research that was underway.
Early Morning Robbery
Regional media, citing police sources, said that the robbery included two suspects whom entered Caesars Atlantic City around 6 am. One or more of them had a gun and pulled it before stealing two plastic boxes that contained the stolen cash. They then fled the scene in car at approximately 6:20 am, according up to a police bulletin.
The truth is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery happened inside of the casino. If the crime had occurred in a resort or other general public area, it would 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 major casino (Caesars introduced $28.8 million in income 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 town’s casinos have been falling for years, and also as many as four casinos could end up closing throughout the length of 2013.
One particular casinos, the Showboat, is operated by Caesars and is scheduled to close at the end of August. Others include the Atlantic Club, which closed in January, the Trump Plaza, which is planned for closure later this present year, as well as the Revel, that is currently in bankruptcy court and could close in cases where a buyer is not discovered.
Caesars Atlantic City occupies a big, high-rise building that takes 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 that it’s impossible for criminals to pull a heist occasionally. The schemes, nonetheless, are rarely as complex as something you’d see in Ocean’s 11.
For instance, in 2010, a gunman wearing a motorcycle helmet dashed into the Bellagio regarding the Las vegas, nevada Strip. He proceeded to take potato chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, had been eventually caught months later and was sentenced to jail.
Atlantic City Casino Struggles Hurting Regional Economy
Atlantic City’s beaches may help attract tourists that aren’t thinking about gambling. (Image: ACHotelExperts.com)
As Atlantic City watches gambling enterprises close left and right, officials admit that the populous town has to find how to diversify as gambling revenues continue to tumble. Additionally they admit that this isn’t going to be a transition that is easy the city has gotten utilized to relying on the gaming industry, and that will be a hard habit to break. But just what might not 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 region, gamblers and others who can 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 were tied to the video gaming industry in a single way or another. That accounts for about two percent for the state’s total workforce.
‘When Atlantic City suffers, the area that is entire,’ said David Breeden, administrator for the city 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, although the Showboat plus the Trump Plaza are both expected to close in the next few months. The Revel may also close this year if a buyer can not be found.
With casino revenues under pressure from rivals in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in terms of gaming revenues), Atlantic City is now trying to locate other ways to attract site visitors outside of slot machines and dining table games. That does not mean abandoning the casinos entirely, but visitors that are rather giving reason to avoid by way of a city that is seemingly in the decline.
That could mean more destinations for families, bringing larger conventions to the town, and making sure amenities are there for folks who are only casual gamblers. But that’s likely to simply take some time to perfect, as well as the change is anticipated to be rough.
‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not many big corporations that hire people down here. The gambling enterprises have now been a boon for people down here.’
A transition that is painful
Even if Atlantic City does manage to rebound, it’s unclear whether it’s going to ever be exactly like it was in its gaming heyday. New organizations may create jobs, but there is no guarantee that they’re going to function as the same kinds of high-paying opportunities afforded by the casinos.
‘We will endure the pain that comes with transitioning from an economy extremely reliant on a industry that is single’ said Atlantic City mayor Don Guardian.
Regarding the bright side, the city does still draw about 27 million visitors each 12 months, so there’s certainly lots of disposable earnings to go around if the city will get the right way to capture it. There are also plenty of resources which could help Atlantic City make such a transition: there is still the world-famous boardwalk, therefore the beaches are still a fantastic draw through the summers.
But while trying to squeeze more out of tourism will certainly assist, some professionals believe Atlantic City should search for other opportunities for development too.
‘I’m all for wanting to increase the size of this non-gaming pie, although not just hospitality and tourism,’ Deborah M. Figart, teacher of education and economics during the Richard Stockton College of brand New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that are not a one- or two-industry city, those urban centers tend to do very well and prosper even 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 not far off. (Image: Mel Evans/AP)
In the old days of gambling, the public image of the casino floor had been one of smoke-filled tables and a cloudy haze through the halls. On 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 somewhat more gambling experience that is breathable. Nevertheless, at the very least in Nevada, there has nevertheless been room for smokers and non-smokers alike.
But according to some analysts, which may be changing soon. Many states with casino gambling have previously outlawed smoking in gambling enterprises, and Macau is currently planning 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 within the next two years.
Zarnett cited a combination of the move by Macau, which may now be a market trendsetter, as well as the study that is continued of risks of second-hand smoking cigarettes as factors leading him to genuinely believe that such a ban could possibly be coming sooner rather than slot freebies lightning link later on.
Smoking Ban Could Be Expensive
But he also warned that such a ban could cost Nevada casinos lot of money. He pointed out that other states have experienced significant revenue declines after passing such laws into the past: Delaware’s casino revenues fell 11.3 percent following a 2002 ban, while Illinois saw a 20.9 percent drop after their 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it had been to do similar.
That might mean that such a ban wouldn’t be complete, and would nevertheless give smokers a place where they could sneak in a couple of puffs that are good. In Macau, cigarette smoking would nevertheless be allowed within the high-end areas where VIP gamblers congregate, and there will be smoking that is special with segregated ventilation systems. The latter is in fact 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 airport that is main, where cigarette smoking is forbidden.
The Macau ban will go into effect on 6, just after the Golden Week holiday ends october. Any cigarette smoking areas which can be built in casinos must take into account less 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 gambling enterprises anywhere in hawaii, and there has been no general public groundswell to take action. But even if it had been to take place, it would likely not be the shock to the device it sounds want it could 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 poker that is many and sports books. The whole planet number of Poker had been played in a smoke-free environment this year.
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, fuel prices, market saturation, competition, casino financial obligation, the recession that began in 2008 that severely affected all gaming profits, including Vegas, will be the other cards lacking with this deck,’ said Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the reason behind income decreases, rather, it is bad business preparation.’
And even if the casinos aren’t likely to place 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 video gaming industry knows it.’