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 and got away with increased than $180,000 from Caesars Atlantic City on Monday.

Things aren’t 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 comes in and out of their balance publications. Simply speaking, it’s about the worst time possible for the six-figure sum to go missing from a single regarding the city’s casinos.

In accordance with police, two masked thieves walked out of Caesars Atlantic City with additional than $180,000 on Monday after a smash-and-grab raid on the casino. The robbery reportedly occurred on Monday early morning, though police did not immediately release information that is much the facts of the crime. According to USA Today, trooper Alina Spies said that police were investigating the matter, but that they didn’t want to supply any information that may hinder the investigation that was underway.

Early Robbery morning

Local media, citing police sources, stated 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 plastic boxes that contained the stolen cash. They then fled the scene in a motor car at approximately 6:20 am, according up to a police bulletin.

The scenario is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery took place inside of the casino. If the crime had occurred in a hotel or other area that is public it might be customary for city police to manage the matter.

While $181,000 may possibly not be much in the grand scheme of things for a casino that is majorCaesars earned $28.8 million in revenue 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 gambling enterprises have been falling for decades, and also as many as four casinos could end up shutting throughout the span 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 this present year, while the Revel, which will be currently in bankruptcy court and may close if a buyer just isn’t found.

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

Casino Heists Not Unheard Of

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

For example, in 2010, a gunman wearing a motorcycle helmet dashed into the Bellagio on the vegas Strip. He proceeded to steal chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, had been finally caught months later on and was sentenced to jail.

Atlantic City Casino Struggles Hurting Regional Economy

Atlantic City’s beaches may help attract tourists who aren’t thinking about gambling. (Image: ACHotelExperts.com)

As Atlantic City watches casinos close left and right, officials admit that the city could have to get ways to diversify as gambling revenues continue to tumble. They also 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 which will be a hard habit to split. But exactly 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 long brought tourists to the location, gamblers and others who can spend time at then other venues over the shore. But it’s more than that: according to a 2008 study by Rutgers University, some 100,000 jobs in New Jersey were associated with the video gaming industry in one way or another. That accounts for around two percent regarding the state’s total workforce.

‘When Atlantic City suffers, the area that is entire,’ said David Breeden, administrator for the town of Barnegat.

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Several Casinos Closing This Year

Up to four Atlantic City casinos which were operating in 2013 may be closed by the end of this year. The Atlantic Club closed in January, as the Showboat and also the Trump Plaza are both expected to close in the next few months. The Revel could also shut this if a buyer can’t be found year.

With casino profits under pressure from competitors in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in regards to gaming revenues), Atlantic City is now trying to get other means to attract visitors outside of slot devices and dining table games. That doesn’t mean abandoning the casinos completely, but visitors that are rather giving reason to stop 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 ensuring amenities is there for those who are only gamblers that are casual. But that’s going to take some right 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 casinos have now been a boon for folks down here.’

A transition that is painful

Even if Atlantic City does find a way to rebound, it’s unclear as it was in its gaming heyday whether it will ever be the same. New companies may create jobs, but there is no guarantee that they can end up being the same types of high-paying opportunities afforded by the casinos.

‘We will endure the pain that comes with transitioning from an economy overly reliant for a single industry,’ said Atlantic City mayor Don Guardian.

On the bright side, the town does still draw about 27 million site visitors each year, generally there’s certainly an abundance of disposable income to go around if the city will find the proper way to capture it. There are also plenty of resources which could help Atlantic City make this kind of transition: there is still the world-famous boardwalk, while the beaches are still an incredible draw through the summers.

But while attempting to squeeze more out of tourism will certainly help, some professionals believe Atlantic City should search for other opportunities for growth as well.

‘I’m all for wanting to increase the size associated with the non-gaming cake, however just hospitality and tourism,’ Deborah M. Figart, professor of training and economics at the Richard Stockton College of New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that aren’t a single- or two-industry town, those towns have a tendency to do very well and prosper even in times of recession.’

Nevada Casinos Could Ban Smoking in Near Future

More casino areas are getting 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. Throughout the years, that vision has mainly 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 breathable gambling experience. Still, at the least in Nevada, there has nevertheless been room for smokers and non-smokers alike.

But based on some analysts, that might be changing soon. Many states with casino gambling have outlawed smoking in casinos, and Macau is currently likely to implement a ban later this year. That and other indications have led Deutsche Bank video gaming analyst Andrew Zarnett to predict that the smoking cigarettes ban could come to Nevada in the next two years.

Zarnett cited a combination of the move by Macau, that could now be a business trendsetter, as well as the study that is continued of risks of second-hand cigarette smoking as factors leading him to genuinely believe that such a ban could be coming sooner versus later on.

Smoking Ban Could Be Costly

But he additionally warned that such a ban could price Nevada casinos a complete lot of cash. He noticed that other states have experienced revenue that is significant after passing such laws within the past: Delaware’s casino revenues fell 11.3 percent after having 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 accomplish the exact same.

That might mean that such a ban would not be complete, and would still give smokers a location where they are able to sneak in a couple of puffs that are good. In Macau, cigarette smoking would nevertheless be permitted in the high-end areas where VIP gamblers congregate, and you will see special cigarette smoking rooms 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 October 6, just after the Golden Week holiday ends. Any smoking areas being built in casinos must take into account not even half for the gaming that is overall in each venue.

No Immediate Push for a Ban

According to officials in Nevada, there’s no push that is immediate ban smoking in casinos anywhere in their state, and there is no general public groundswell to do this. But even that it sounds like it could be if it were to happen, it may not be the shock to the system. In 2006, Nevada voters banned cigarette smoking in all public places other than casino floors. And some casino areas are already smoke-free, including numerous poker rooms and sports books. The whole planet group 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 associated to casino profits.

‘Bad weather, gas rates, market saturation, competition, casino debt, the recession that began in 2008 that severely affected all gaming profits, including Vegas, will be the other cards missing from 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 planning.’

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

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

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