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

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

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

Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint and got away with additional than $180,000 from Caesars Atlantic City on Monday.

Things are not great right now in Atlantic City. Casinos are shutting, revenues are falling and profits are drying up after month month. It’s a right time when resorts are carefully monitoring every buck that is available in and out of their balance books. In short, it’s about the time that is worst possible for the six-figure sum to go missing in one regarding the city’s casinos.

In accordance with police, two masked thieves walked out of Caesars Atlantic City with increased than $180,000 on Monday after a smash-and-grab raid on the casino. The robbery apparently took place on Monday early morning, though police did not immediately release much information about the important points of the crime. In accordance with USA Today, trooper Alina Spies said that police were investigating the matter, but that they did not want to give any information that might hinder the investigation that was underway.

Early Morning Robbery

Regional media, citing police 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 synthetic 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 truth is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery occurred inside of the casino. If the crime had happened in a hotel or other area that is public it would be customary for city police to deal with the matter.

While $181,000 may not be much in the grand scheme of things for a casino that is majorCaesars brought in $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 city’s casinos have been falling for a long time, so that as many as four casinos could find yourself closing throughout the course of 2013.

Those types of casinos, the Showboat, is operated by Caesars and is scheduled to close at the end of August. Others include the Atlantic Club, which shut in January, the Trump Plaza, which is planned for closure later in 2010, additionally the Revel, which is currently in bankruptcy court and might close if your customer isn’t discovered.

Caesars Atlantic City occupies a big, high-rise building that uses up a block involving the famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It is uncertain the way the perpetrators entered or exited the building.

Casino Heists Not Unheard Of

While casino security is practically second-to-none, that doesn’t mean so it’s impossible for crooks to sporadically pull a heist. The schemes, nevertheless, are rarely because complex as something you’d see in Ocean’s 11.

For instance, this year, a gunman wearing a bike helmet dashed in to 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 eventually caught months later and was sentenced to prison.

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 admit that the populous city may have to get how to diversify as gambling revenues continue steadily 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 that’ll be a hard habit to break. But just what might not be immediately obvious is just how much 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 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 were tied to the gaming industry in a single way or another. That accounts for around two percent associated with the state’s total workforce.

‘When Atlantic City suffers, the area that is entire,’ said David Breeden, administrator for 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 in 2010. The Atlantic Club closed in January, although the Showboat plus the Trump Plaza are both expected to close in the next months that are few. The Revel may also shut this year if a buyer can not be located.

With casino revenues under great pressure from competitors in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in terms of gaming revenues), Atlantic City is now attempting to locate other means to attract visitors outside of slot machines and dining table games. That does not mean abandoning the casinos completely, but visitors that are rather giving reason to stop by 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 exist for folks who are only gamblers that are casual. But that’s likely to just take some time to perfect, and also the transition is anticipated to be rough.

‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not numerous corporations that are big hire individuals down here. The gambling enterprises were a boon for folks down here.’

A transition that is painful

Even if Atlantic City does have the ability 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’s no guarantee that they can be the same sorts of high-paying opportunities aussie-pokies.club afforded by the casinos.

‘We will endure the pain sensation that comes with transitioning from an economy overly 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 that may help Atlantic City make this type of transition: there is still the boardwalk that is world-famous and the beaches are still a fantastic draw throughout the summers.

But while trying to squeeze more out of tourism will certainly help, some experts believe Atlantic City should search for other possibilities for growth too.

‘I’m all for wanting to increase the size associated with non-gaming cake, although not just hospitality and tourism,’ Deborah M. Figart, professor of education and economics at the Richard Stockton university of New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that are not a single- or town that is two-industry those urban centers have a tendency to prosper and prosper even yet in times of recession.’

Nevada Casinos Could Ban Smoking in Near Future

More casino areas are going smoke-free, and a total ban in Nevada casinos could be coming soon. (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. 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 that 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, that may be changing soon. Many states with casino gambling have outlawed smoking in casinos, and Macau is already likely to implement a ban later this year. That and other indications have actually led Deutsche Bank video gaming analyst Andrew Zarnett to predict that the cigarette smoking ban could come to Nevada in the next two years.

Zarnett cited a mix of the move by Macau, which may now be a business trendsetter, as well as the study that is continued of perils of second-hand smoking as factors leading him to believe that this kind of ban might be coming sooner in 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 pointed out that other states have seen significant revenue declines after passing such laws into the past: Delaware’s casino profits fell 11.3 percent after a 2002 ban, while Illinois saw a 20.9 percent drop after unique 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it had been to accomplish the exact same.

That might mean that such a ban would not be complete, and would still give smokers a place where they could sneak in a few puffs that are good. In Macau, cigarette smoking would still be permitted into the high-end areas where VIP gamblers congregate, and there will be smoking that is special with segregated ventilation systems. The latter is really 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 smoking cigarettes areas which are built in casinos must account for fewer than half of the overall gaming area 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 the state, and there was no general public groundswell to do so. But even if it had been to occur, it might probably not be the shock to the machine it sounds enjoy it might be. In 2006, Nevada voters banned cigarette smoking in all places that are public than casino floors. And some casino areas happen to be smoke-free, including many poker spaces and sports books. The whole planet variety of Poker had been played in an environment that is smoke-free 12 months.

And while those projections of major losings may be scary, not everyone agrees that smoking bans are directly related to casino profits.

‘Bad weather, gas costs, market saturation, competition, casino financial obligation, the recession that began in 2008 that severely affected all video gaming profits, including Vegas, would 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 for income decreases, rather, it’s poor business planning.’

And even if the casinos aren’t planning to place a ban into place right away, Steinberg agrees that it will come eventually.

‘Casino smoking bans are everywhere and inevitable,’ she said. ‘Nevada is next and the video gaming industry knows it.’