ATLANTIC CITY -
With people coming and going at all hours of the day, Atlantic City's casinos never close, but in just a couple of weeks, the Atlantic Club will fold, leaving the city with 11 casinos.
"The bad thing of course is 1600 people lose their jobs and they really have no possibility of getting another job in Atlantic City because already we're seeing more layoffs from other casinos," explained casino analyst Roger Gros.
But while the Atlantic Club prepares to close its doors for good, at the other end of the boardwalk, things could finally be looking up for Atlantic City's newest casino.
"I'm very enthusiastic about Revel and I think that they're gonna start rising through the cream of the crop here and they'll be up to 2 or 3 before long," said Gros, citing changes in management and philosophy as Revel's tickets to success in 2014.
The legalization of online gambling has other casinos betting on a profitable new year as well.
"A lot of work went into it this year," said Joe Lupo, Borgata's senior vice president of operations at Borgata, speaking about online betting. "It was a very fast paced effort."
Seven of the city's casinos are affiliated with online gambling websites, and analysts say that's just the beginning, as other companies roll the dice on internet betting.
"There's gonna be a Win casino under the Caesar's umbrella, there's gonna be an MGM casino under the Borgata," said Gros.
"It allows us to speak to a lot more people who currently are not coming to Atlantic City - North Jersey, West Jersey - that maybe haven't taken that ride down the turnpike yet," said Lupo.
Gros also believes that if Mayor Elect Don Guardian plays his cards right, he could bring money into the city by working to stabilize tax rates.
"If he can stabilize that we're gonna see a lot of people come back to Atlantic City. Investors come back into Atlantic City and take another look at it because frankly, Atlantic City still has a lot to offer that you can't get in other destinations," said Gros.
Last year also saw an appellate court rule New Jersey's efforts to legalize sports betting in violation of federal law. Those we spoke to say they don't expect the Supreme Court to overturn that ruling.
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