Casinos in Atlantic City close, 5,000 workers out of work

[umair127]

What next?


Atlantic City casino closures bring mass unemployment filing

ATLANTIC CITY, N.J. –  Carrying identification documents and bitterness over their sudden joblessness, hundreds of ex-casino workers began filing for unemployment Wednesday morning, the first attendees at an assistance center that expects to process 5,000 newly laid-off workers over the next three days.

The session at the Atlantic City Convention Center came after a brutal weekend that saw two casinos, the Showboat and Revel, close. Officials from the state Department of Labor and the main casino workers' union, Local 54 of Unite-HERE, helped displaced workers file for unemployment and gave them information on signing up for health insurance and other benefits.

By mid-September, Atlantic City, which started the year with 12 casinos, will be down to eight, and almost 8,000 people will be out of work. Trump Plaza is closing Sept. 16, and the Atlantic Club shut down in January.

About 300 workers were lined up when the doors opened at 9 a.m.; by early afternoon more than 750 had been processed.


http://www.foxnews.com/us/2014/09/03/atlantic-city-casino-closures-bring-mass-unemployment-filing/

[Rigon]

Stock Market adjustment, then hopefully a return to Gold and Silver.Its gotta reset at some point soon.by the way....good time to invest in bitcoin and Silver.

[umair127]

Stock Market adjustment, then hopefully a return to Gold and Silver.Its gotta reset at some point soon.by the way....good time to invest in bitcoin and Silver.

How do they do that without a job?

[zolace]

It's never wise to live paycheck to paycheck but I feel very sorry for these folks.  I don't think they had any warning.  There have been several massive layoffs lately which tell me the economy is not nearly as good as the politicians would have us believe.

[MRKLYE]

Stock Market adjustment, then hopefully a return to Gold and Silver.Its gotta reset at some point soon.by the way....good time to invest in bitcoin and Silver.

How do they do that without a job?

This idiot is just making a "constructive" post in order to get a little more mBTC on his dicebitco.in monthly shill campaign.. It's sad really when people just spout random nonsense without actually typing anything worth reading.

I feel bad for these people. It's a sad time when you lose your job due to circumstances that were not under your control. That being said hopefully a large % of them are able to find work fast.

[Mr.Bitty]

I've never understood how those casinos stay in business.  Every time we've went to Vegas or Atlantic City the hotel and meals and drinks and shows, even those super cushy bathrobes are comped on our bill.  All it ever cost was what we took to the tables.

[counter]

Stock Market adjustment, then hopefully a return to Gold and Silver.Its gotta reset at some point soon.by the way....good time to invest in bitcoin and Silver.

Agreed great time to buy a both, but not all at once and hold.

It's never wise to live paycheck to paycheck but I feel very sorry for these folks.  I don't think they had any warning.  There have been several massive layoffs lately which tell me the economy is not nearly as good as the politicians would have us believe.

Stock Market adjustment, then hopefully a return to Gold and Silver.Its gotta reset at some point soon.by the way....good time to invest in bitcoin and Silver.

How do they do that without a job?

This idiot is just making a "constructive" post in order to get a little more mBTC on his dicebitco.in monthly shill campaign.. It's sad really when people just spout random nonsense without actually typing anything worth reading.

I feel bad for these people. It's a sad time when you lose your job due to circumstances that were not under your control. That being said hopefully a large % of them are able to find work fast.

actually they could always use some of their unemployment money and learn to live on less IMO.

[Chef Ramsay]

It could be that being part of some of these unions gives the workers a sense of over-confidence in terms of how secure they feel in their employment or how they spend their money or save any of it. Far more people than we know live paycheck to paycheck and that's something that just doesn't make any sense to me. I try to save at least a quarter of what I earn and in many cases, much more than that.

[HELP.org]

Other jurisdictions close by (PA, DE, and NY) have implemented casino gambling so many have no reason to travel to AC to gamble.  The same companies are opening those places so the workers often move around to whatever is hot at the moment.

[bitc0in]

I hate gambling it's a good thing to hear as a hater of gambling but sad news more than 5k loose their living.

[bryant.coleman]

I hate gambling it's a good thing to hear as a hater of gambling but sad news more than 5k loose their living.

A large part of the casino employees will move to other cities (where there is a boom in gambling) and gain employment in the local casinos. 5,000 is not a big number. Anyway they will be receiving generous retirement benefits. Even if they are not able to gain employment, the benefits will sustain them for several months, if not years.

[countryfree]

By definition, gambling is risky business, so working in a casino should be risky too. I knew one guy working at a casino, and he wasn't working all year round. He was working a lot during summer months, but he had nothing to do in low months like November and February. With so much gambling moving online, nobody should be surprised to see some casinos closing. Then, it should be depressing to work in a casino. You see people loosing money everyday!

[the joint]

Stock Market adjustment, then hopefully a return to Gold and Silver.Its gotta reset at some point soon.by the way....good time to invest in bitcoin and Silver.

How do they do that without a job?

This idiot is just making a "constructive" post in order to get a little more mBTC on his dicebitco.in monthly shill campaign.. It's sad really when people just spout random nonsense without actually typing anything worth reading.

I feel bad for these people. It's a sad time when you lose your job due to circumstances that were not under your control. That being said hopefully a large % of them are able to find work fast.

How is *pure opinion*, i.e. your post, any more constructive? 

"This idiot is...", "It's sad really when...", "I feel bad for...", "It's a sad time when...", "...hopefully..."

And your signature advertises a casino, too.   

Although, I'm not sure what he was trying to say, either.   In any case, basing a career upon gambling (whether you're with or against the house) probably isn't the smartest idea.   It's a market that functions vastly different than, say, retail markets.

[EternalWingsofGod]

I have been hearing about the gambling sectors winding down a bit
Sucks to see jobs lost but that's the economy.
That said think Atlantic and other gambling locales are trying to diversify away anyways so it might be interesting to see what happens in the long run.

[koshgel]

Other jurisdictions close by (PA, DE, and NY) have implemented casino gambling so many have no reason to travel to AC to gamble.  The same companies are opening those places so the workers often move around to whatever is hot at the moment.

This.

Also, Atlantic City is pretty ghetto and doesn't have any other entertainment besides gambling unlike Vegas

[dadugan]

It's never wise to live paycheck to paycheck but I feel very sorry for these folks.  I don't think they had any warning.  There have been several massive layoffs lately which tell me the economy is not nearly as good as the politicians would have us believe.

When the casino makes no profit two years after its grand opening, that should be enough warning for all the workers.

Casino industry has mature quite a bit, competition will kill profit margin and wipe out inefficiently run casino.

[sana8410]

As sad as it is that people are losing their jobs because of closing casinos, it's almost comical watching people who haven't got a clue blame President Obama for it.  Yes, the slow economy does have some impact. but the major reason for the Casinos failing in AC is something entirely different. I know, I know - don't bother you with the facts, right? But the REAL reason that AC Casinos are struggling is competition.  Atlantic City was never Vegas. Vegas is a world unto itself. Yes, they make huge fortunes on casino gambling, but it's more than that - it's the atmosphere and the entertainment as well. Atlantic City never captured that same kind of atmosphere of seemingly entering a different world. If you've never been to both places, it's hard to understand what I'm talking about. But the straw that broke the camel's back  - that Vegas doesn't have to concern themselves with - is nearby competition.  People fly in from all over the world to see Vegas. Atlantic City doesn't have that kind of draw, and never has. Then there's location - look at Vegas on the map. Where are the closest major cities? Los Angeles and Phoenix - both of which are at least a 6 hour drive from Vegas.  AC is an hour from Philly and an hour and a half from NYC.  When they opened up casino gambling in AC, that was actually an advantage - a draw. If you come to Philly, you can gamble in AC. Same for NY. And if you come to AC, you're that close to the history of Philly and the night life of NYC.  It was complementary.

[sana8410]

So where did it all go wrong? Well, it started with the Pequots. Who, you ask? The Pequot tribe have a reservation in, of all places, Connecticut. And not being subject to Connecticut law - or even US law, for the most part - they opened up the Foxwood Casino; and in doing so, bled off a fair amount of gambling traffic from NY and southern New England that had been going to Atlantic City. But the killing stroke was the legalization of casino gambling in Pennsylvania. There are now four major casinos in the city of Philadelphia, and yes, that has effectively killed the market for Atlantic City. Sure, some still go there, but mostly, the draw to AC has become the Jersey Shore crowds. And that makes it essentially seasonal. It's no coincidence that these casinos shutting down did so in September. Jersey Shore businesses - like Boardwalk stores, entertainment piers and restaurants - have long understood that they are seasonal, and that they need to make as much money as possible between late spring and early autumn to get them through the lean months of winter. Hell, many of those businesses actually shut down and lock the doors between October and April. Unfortunately, that's not a feasible business model for casino resorts.

Could the same thing happen to Las Vegas? Well, sure it could. It's just not likely. California is never going to allow LA to have casino gambling. It's just not going to happen. Not to mention that LA has earthquakes. And Phoenix? how would they ever be able to draw crowds away from the already established Las Vegas? So no, Vegas is in no danger any time soon of being wrecked by competition as AC has been.  In any case, one has to be a pretty shallow and uninformed "thinker" (it really HAS to be in quotes, because the term is being used almost ironically) try and blame the failure of Atlantic City casinos on President Obama.

[noviapriani]

As sad as it is that people are losing their jobs because of closing casinos, it's almost comical watching people who haven't got a clue blame President Obama for it.  Yes, the slow economy does have some impact. but the major reason for the Casinos failing in AC is something entirely different. I know, I know - don't bother you with the facts, right? But the REAL reason that AC Casinos are struggling is competition.  Atlantic City was never Vegas. Vegas is a world unto itself. Yes, they make huge fortunes on casino gambling, but it's more than that - it's the atmosphere and the entertainment as well. Atlantic City never captured that same kind of atmosphere of seemingly entering a different world. If you've never been to both places, it's hard to understand what I'm talking about. But the straw that broke the camel's back  - that Vegas doesn't have to concern themselves with - is nearby competition.  People fly in from all over the world to see Vegas. Atlantic City doesn't have that kind of draw, and never has. Then there's location - look at Vegas on the map. Where are the closest major cities? Los Angeles and Phoenix - both of which are at least a 6 hour drive from Vegas.  AC is an hour from Philly and an hour and a half from NYC.  When they opened up casino gambling in AC, that was actually an advantage - a draw. If you come to Philly, you can gamble in AC. Same for NY. And if you come to AC, you're that close to the history of Philly and the night life of NYC.  It was complementary.

I have and I agree.  Las Vegas is an experience...a sin city Disneyland in the middle of the dessert.   Atlantic City which I had heard about my whole life and had imagined as a place to spend a couple of fun filled days is at best lack luster.   On the historic but so-so boardwalk, the lavish casinos stick out like a sore thumb, surrounded by a beach that is just okay, an out door mall that is like every other, and a large sprawl of lower income housing.     We spent as long as it took to walk around all that, went back to the hotel, and adjusted our plans to leave the next day.  So I do think you are right in that AC, as an experience destination, just doesn't cut it.

[zolace]

As sad as it is that people are losing their jobs because of closing casinos, it's almost comical watching people who haven't got a clue blame President Obama for it.  Yes, the slow economy does have some impact. but the major reason for the Casinos failing in AC is something entirely different. I know, I know - don't bother you with the facts, right? But the REAL reason that AC Casinos are struggling is competition.  Atlantic City was never Vegas. Vegas is a world unto itself. Yes, they make huge fortunes on casino gambling, but it's more than that - it's the atmosphere and the entertainment as well. Atlantic City never captured that same kind of atmosphere of seemingly entering a different world. If you've never been to both places, it's hard to understand what I'm talking about. But the straw that broke the camel's back  - that Vegas doesn't have to concern themselves with - is nearby competition.  People fly in from all over the world to see Vegas. Atlantic City doesn't have that kind of draw, and never has. Then there's location - look at Vegas on the map. Where are the closest major cities? Los Angeles and Phoenix - both of which are at least a 6 hour drive from Vegas.  AC is an hour from Philly and an hour and a half from NYC.  When they opened up casino gambling in AC, that was actually an advantage - a draw. If you come to Philly, you can gamble in AC. Same for NY. And if you come to AC, you're that close to the history of Philly and the night life of NYC.  It was complementary.

Well, since nobody blamed Obama, and I only mentioned that the economy is not doing as well as he and his butt licking press say it is, you are, yet again, projecting the thoughts in your head (Obama is to blame) onto us and telling us we thought them.