East Coast Gaming Congress - Day Two Recap

Day Two of The East Coast Gaming Congress was insightful because the panels were tackling issues that had the old guard vs. 21st Century thinking. I shuttled between Gender Equality in the Gaming Industry and Atlantic City.. And North Jersey?  They were in adjacent areas so I was able to cover both.

Virginia McDowell

The Gender Equality Panel consisted of Jan Jones Blackhurst,Vice President of  Government Relations at Caesars Entertainment, James Allen, CEO of Hard Rock International and Jane Bokunewicz,Assistant Professor of Tourism Management from Stockton University.  The moderator was the esteemed Virginia McDowell, President  and Board Chair of Global Gaming Women. This session should have been held by itself.  The turnout was light but the message was powerful. Women are underrepresented in management positions and are paid substantially less than their male counterparts. But the message and the numbers do not resonate unless they are heard by everyone. Most of the attendees were women and minorities. The data supports that companies that are diverse do better than one's that are not. Companies that have women in position of leadership are making more money than those where only men are present.

 

The Atlantic City ...And North Jersey panel had the most fireworks. The groups were divided by the trio that wanted a gaming expansion into North Jersey and one that was opposed. The Atlantic City group wants to maintain the momentum that they have by citing the increases in hotel occupancy and revenue over this time two years ago. They feel that casinos in North Jersey would derail that growth.

The North Jersey supporters of Jeff Gural and Paul Fireman, the two primary investors of the proposed Meadowlands and Jersey City project respectively, think that they are going after a market that Atlantic City does not have presently. No happy medium was reached.

 

The Casino Floor of Tomorrow gave a glimpse at what everyone thought the future gaming floor would look like. The consensus of this panel was that while we can't forget about our present customers, we must allocate a percentage of our space that will engage a younger crowd.

Geoff Freeman

Geoff Freeman, President & CEO, American Gaming Association, requested that the gaming industry do 3 things. The industry should expose the problems, see the opportunities and unify the stakeholders. This includes Sports Betting and Daily Fantasy Sports.

Part Two of the Day 2 recap will be on my Facebook and Twitter  mediums.


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Gaming News from Atlantic City

This week ,Atlantic City scored a 3 point shot with the announcement that Revel would be sold to Glenn Straub, the developer from Miami Florida.  Straub said after the hearing he has reached a deal to buy several casinos or former casinos in Atlantic City as part of a $500 million, multi-faceted deal. He said details would be revealed on Saturday, but added, "I've already bought them."
As part of his plans to purchase Revel, Mr. Straub intends to cancel all existing leases and contracts tied to the property, including those with the former tenants and with the operator of the property’s custom-built power plant, its only source of electricity and hot water.
“They have to understand, we can’t have them control our lives,” Mr. Straub told The Wall Street Journal Thursday. Straub's plan is said to include reopening the casino in Revel but on a smaller scale.

Now

A $50 million makeover of The Pier Shops will turn the underperforming beachside mall into an all-American party palace called The Playground, and make it “the music capital of the East Coast,” Philadelphia developer Bart Blatstein announced at a long-awaited press conference Wednesday. This will heighten the interest in Atlantic City will additional music and entertainment venues in the center of the Boardwalk. One way, he said, is that his plans call for providing far more views of the beach, ocean and Boardwalk than currently exist. He added that more restaurants and "high-end shops" are planned in addition to the 14 music venues.

 IN THE FUTURE

The target market will be millennials that are single and under 40.  Blatstein has a proven track record based on his success with Northern Liberties in Philadelphia. Night life similar to the Piazza.

The Stars come out at night

Straub and Blatstein share a view that a renaissance is in order for the struggling resort. The revitalization will have less emphasis on gaming and more on food, beverage and retail. Sounds like a mini Las Vegas East. They still need more hotel rooms and a direct route that consist of rail or air travel.  I would like to see another gaming operator enter the market with a boutique casino style. One that has 200 to 500 rooms with no more  than 1000 slots and 70 tables games, including poker. That operator would also engage an online partner to have an I Gaming presence.

 

  

 

 

 

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