showboat casino atlantic city robbery 1992

The new conference center at Harrah’s was completed in August and opened for business on Sept. “This is what we hope is all over the city. “This is something that enhances the gaming product we have with non-gaming opportunities-the opportunity for us to be one of the big boys in the United States in terms of conventions and conferences,” Atlantic City Mayor Don Guardian said to the crowd that Thursday afternoon. Several dozen journalists gathered under a massive, outdoor archway in mid-September, cameras and notepads in hand, documenting the ribbon cutting ceremony of Caesars Entertainment Corporation’s Harrah’s Waterfront Conference Center-a 100,000-square-foot facility tucked behind the entertainment company’s existing hotel and casino. TAKING CHANCES: The new conference center at Harrah’s Atlantic City opened in September (Photo: Courtesy of Ceasars Entertainment). Real estate developer Glenn Straub purchased the glass structure, which is distinguished by the massive golf ball that its roof dons, for a low bid of $82 million at a foreclosure auction this April.īut while bankruptcies and foreclosures have characterized the city for the last decade, a turnaround effort is already underway.

Just a few days later, the $2.4 billion Revel Casino Hotel-reportedly the most expensive private construction project in the history of New Jersey-closed, and now sits empty, as the most recent failure of the city. In August 2014, the iconic Showboat Casino Hotel closed its doors as a means to curtail competition. Recessions aside, the local economy still relies heavily on the casino and entertainment business, which saw a nearly 50 percent dip from $5.2 billion in 2006 to $2.7 billion in 2014 in Atlantic City as gaming competitors opened in neighboring states, according to the Center for Gaming Research at University of Nevada, Las Vegas. It’s not news that Atlantic City has stumbled quite a bit since its days as a bustling beach destination in the late 1800s to the times it held the monopoly on the East Coast’s gambling from the 1970s to the 1990s.

“I used to make more than that in two hours,” he said. SEE ALSO: Greystone’s Blake Okland Adds Role, Will Lead C&W’s Multifamily Capital Markets

Showboat casino atlantic city robbery 1992