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Good news from Atlantic City

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Gebroe-Hammer arranges apartment community sale in Belmar

By Mario Marroquin
October 19, 2017 12:49 PM

Commercial real estate brokerage Gebroe-Hammer Associates recently announced it completed the sale of a 30-unit garden-style apartment community in Belmar. CONTINUE READING

Mountainside-based Clearlogin acquired by Pa.-based Evolve IP

By Arthur Augustyn
October 19, 2017 01:14 PM

Pennsylvania-based cloud computing company Evolve announced its acquisition of Mountainside-based Clearlogin on Thursday. CONTINUE READING

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Valley National Bank appoints EVP, CHRO

By Emily Bader
October 19, 2017 11:34 AM

Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp, announced Tuesday it has appointed Yvonne M. Surowiec to executive vice president – chief human resources officer. CONTINUE READING

Hampshire completes sale of Hackettstown Commerce Park

By Mario Marroquin
October 18, 2017 07:02 AM

Real estate investment firm The Hampshire Cos. recently announced it has completed the sale of a 197,438-square-foot industrial complex to Devli Group in Hackettstown. CONTINUE READING

G.S. Wilcox announces new hires, record year

By Mario Marroquin
October 18, 2017 01:43 PM

Commercial real estate mortgage firm G.S. Wilcox recently announced Rob Logan and Wesley Wilcox have joined the firm as senior associates. In their new role, both Wilcox and Logan will assist in origination and underwriting. CONTINUE READING

CBRE brokers sale, arranges financing for shopping center in Easton, Pa.

By Emily Bader
October 18, 2017 01:07 PM

CBRE announced Wednesday it has arranged the sale and financing for a 100,250-square-foot shopping center in Easton, Pennsylvania. CONTINUE READING

Bayer appoints SVP, general manager

By Emily Bader
October 17, 2017 01:32 PM

Whippany-based Bayer announced it has appointed Brenda L. Raphael as senior vice president and general manager of the Therapeutics Business Unit of Consumer Health Commercial Operations North America, effective Oct. 30. 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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