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Good news from Atlantic City

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Bridge Development completes purchase in Phillipsburg

By Mario Marroquin
February 15, 2018 03:06 PM

Brokerage firm CBRE announced Bridge Development Partners, and Opus Investments and KTV Inc., have traded a 365-acre development along the I-81, I-78 corridor. CONTINUE READING

PJ Ryan's Tavern leases at Isley Building in Newark

By Mario Marroquin
February 15, 2018 02:27 PM

Brokerage firm JLL has completed a lease for 6,000 square feet on behalf of LMJ 35 LLC for PJ Ryan’s Tavern, the firm announced Thursday. CONTINUE READING

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NKF appoints NJ senior managing director

By Mario Marroquin
February 14, 2018 10:56 AM

Real estate firm Newmark Knight Frank has tapped industry veteran Leo Paytas to serve as a senior managing director out of the firms New Jersey office in Rutherford. CONTINUE READING

AMS Acquisitions pays $32.1 mil for Silk Lofts

By Mario Marroquin
February 14, 2018 12:28 PM

AMS Acquisitions, a New York-based real estate investment firm, has acquired an 85-unit apartment complex in Bayonne. CONTINUE READING

Urban Air Adventure Park opens Milltown location

By Mario Marroquin
February 14, 2018 01:52 PM

Real estate firm Colliers International represented Urban Air at Ryders Crossing Center in Milltown regarding a 24,000-square-foot lease. CONTINUE READING

Steel Works reaches leasing milestone

By Mario Marroquin
February 13, 2018 02:12 PM

Developers Advance Realty and DeBartolo Development said they have 75 percent occupancy at their Steel Works residential joint venture in Harrison. CONTINUE READING

Connell Foley hires litigators, other professional staff

By David Hutter
February 13, 2018 07:57 AM

Connell Foley LLP has hired nearly a dozen litigators and several professional staff who will join the firm in its Newark office. CONTINUE READING

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It’s been a crazy couple of days, meaning I haven’t been able to write about the good news out of Atlantic City — namely, that gaming revenue jumped 12.6 percent over August 2011, the first increase since December.

But, like almost all the good news out of Atlantic City, the closer you look at this flower, the less you see petals and the more you see thorns.

August 2011 is notable in Atlantic City for two reasons — Revel wasn’t open, meaning there were only 11 casinos making up the total revenue, and Hurricane Irene, which forced the casinos to close for three days as the governor told visitors to “get the hell off the beach.”

Revel, since we’re on that one, remains stubbornly stuck in eighth place among the casinos, though its numbers have improved substantially since it opened. Is there a prize for rolling an 8 five times in a row? And the loss of a prime weekend last year was trotted out as the reason the city’s numbers were off, yet it’s the only reason there was an uptick this time around.

There’s also the good news that the Margaritaville project, which has replaced Revel as the city’s savior, got a key environmental approval out of the way for the beachfront bar and restaurant. The Jimmy Buffett brand will be a measurable help to the city during the warmer months, but will it draw in tourists in February?

The city still needs help to become a year-round destination, and whether Revel even lives long enough to see in the new summer is becoming a legitimate question. Atlantic City remains desperate for an old guy to save it, and given the timing, it won’t be Buffett or Revel CEO Kevin DeSanctis — it’ll be Santa Claus.

I’m even more irreverent on Twitter @joe_arney.

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Good news from Atlantic City

By

Back to Top Comments Email Print

Latest News

advertisement

It’s been a crazy couple of days, meaning I haven’t been able to write about the good news out of Atlantic City — namely, that gaming revenue jumped 12.6 percent over August 2011, the first increase since December.

But, like almost all the good news out of Atlantic City, the closer you look at this flower, the less you see petals and the more you see thorns.

August 2011 is notable in Atlantic City for two reasons — Revel wasn’t open, meaning there were only 11 casinos making up the total revenue, and Hurricane Irene, which forced the casinos to close for three days as the governor told visitors to “get the hell off the beach.”

Revel, since we’re on that one, remains stubbornly stuck in eighth place among the casinos, though its numbers have improved substantially since it opened. Is there a prize for rolling an 8 five times in a row? And the loss of a prime weekend last year was trotted out as the reason the city’s numbers were off, yet it’s the only reason there was an uptick this time around.

There’s also the good news that the Margaritaville project, which has replaced Revel as the city’s savior, got a key environmental approval out of the way for the beachfront bar and restaurant. The Jimmy Buffett brand will be a measurable help to the city during the warmer months, but will it draw in tourists in February?

The city still needs help to become a year-round destination, and whether Revel even lives long enough to see in the new summer is becoming a legitimate question. Atlantic City remains desperate for an old guy to save it, and given the timing, it won’t be Buffett or Revel CEO Kevin DeSanctis — it’ll be Santa Claus.

I’m even more irreverent on Twitter @joe_arney.

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