ATLANTIC CITY
He laments Atlantic City’s current economic turmoil, but remains bullish on its future ability to emerge more efficiently. Blatstein says, “Stagnant development has meant nothing new coming to Atlantic City for years. In a short time, we redeveloped The Playground, launched entertainment venues and opened the WAV nightclub. It has enjoyed tremendous reception, including 5,000 people last New Year’s Eve party.“ To develop The Playground, Blatstein partnered
with renowned gaming architect Paul Steelman, himself an Atlantic City native. Steelman committed 400 talented architects, designers, lighting experts and branding experts to the project. Steelman says, “Bart shows a deep knowledge of the future and has a vision that few other developers have. He designs and builds on his gut instinct. Unfortunately, casino operators were always the developers, so Atlantic City never enjoyed a real estate developer’s skill in constructing an urban environment. This is a series of interconnected entertainment events instead of a walled casino. “I believe in Atlantic City. No surrounding jurisdiction has its great beach, fantastic boardwalk and clean crisp air. Our building designs will make people want to record their life memories within.”
Plenty of night life Casino nightlife amenities are crucial as Millenials
(21-35), raised on technology, avoid traditional gaming floors. They may delay conventional life expenses like earlier marriages and children, often preferring to spend on their own recreation. Atlantic City casinos are expanding beyond great gaming, the beach and ocean. The city’s general economy now also depends on dance clubs and nightclubs. Atlantic City‘s explosive nightclub scene is drawing huge investments. Three new clubs will be open by Summer 2016, including Blatstein’s WAV, the Premier at Borgata and Ivan Kane’s Kiss Kiss A Go- Go at the Tropicana. Two opened in April. The 20,000-square-foot WAV‘s 6,000-square-foot terrace overlooks the Atlantic Ocean. The Borgata’s Premier is a $14 million, 18,000-square-foot club. Borgata also plans to open an outdoor Roman-style pool, measuring 3,200 square feet, with 400 chaise lounges, cabanas and day beds. Kane always believed in Atlantic City’s vibrancy,
even after his successful Royal Jelly Burlesque club opened and closed at Revel. Kane says, “Despite publicized challenges, Atlantic City will prove viable, relevant and successful. The naysayers are wrong that this is a soft market. “I am thrilled to introduce Kiss Kiss A Go- Go in
May. Tropicana‘s management asked me to produce a nightclub concept and I jumped at the chance. We are now under construction,” says Kane.
32 MAY 2016 Learning will bring more people
To revitalize southern Atlantic City, site of the closed Atlantic Club casino, Stockton University will open a newly-constructed satellite campus in Fall 2018. There will also be additional commercial investments of small restaurants, bookstores and retailers. Between 1,300-1,400 students will attend classes on site; 522 will live in a dormitory. Groundbreaking is this year. “This project will be one anchor for Atlantic City‘s
Renaissance. Additional area investors will motivate northern end renovation. The Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) helps Stockton maintain close gaming relationships since many Atlantic City casino executives are Stockton graduates,“ says President Harvey Kesselman.
Losing its monopoly? New Jersey’s 1976 gaming law constitutionally Paul Steelman
limited all government-sanctioned commercial gaming to Atlantic City. That could change when a November ballot question asks voters to decide on legalizing two more casinos in northern Jersey. The language will state that within a
predetermined geographic boundary, Atlantic City casino operators must still control the winning bid of at least $1 billion in construction costs. Aside from money redirected to Atlantic City, additional taxes would provide property tax relief for senior citizens and disabled residents. Deutsche Bank estimated that one new casino could generate $500 million a year, or one-fifth of annual gaming revenues from Atlantic City’s eight properties. Supporters call it a job creator. Opponents call it harmful and will over saturate Atlantic City’s casino market. Whatever happens, the issue has made friends of former business foes who either want it or do not. Levenson considers any speculation premature. He
states, “It is controversial, but voters don’t choose for six months. In politics, a lot can happen in one day. We don’t know if outside competitors will campaign against the ballot question.“
Sports betting in sight While still not legal, the New Jersey sports betting
battle continues. Thanks to a Circuit Court decision last year, the issue will again head to court in 2016. This time, at least 12 of 23 circuit judges will hear the case. Levenson remains optimistic, saying, “It will happen. Governor Christie is as aggressive as he can be to get this passed. Of the four professional sports leagues, the National Football League (NFL) is the real stumbling block.” Daily Fantasy Sports has faced national legal challenges this year. Its program faces an uncertain future.
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