Atlantic City New Jersey Meet Flint Michigan

You live long enough and certain things actually don't make you surprised. Actually, better stated, certain things happen that you are so overwhelmingly surprised that the situation in question doesn't make you surprised. 

Well such an incident happened today. Perusing the news, articles, blogs, and other sources of information about the casino industry, I came across an article related to the Atlantic City New Jersey Casino market. Specifically, the article was about the embattled Tropicana Resort and Casino. For those of you who are regulars to my blog, here's a little background. In the last 2 to 3 years the Tropicana has seen horrible reports about customer reviews, has had it's owner lose it's license to such issues due to Casino Control Act regulations and most recently has had the threat of layoffs due to a significant and terrible economic downturn. Ok, that brings things up to date for now. Well reading the article brought about the most glaring example of obliviousness that I have ever read. In the past year the American Auto Workers were able to organize the workers of the casino into a union. That same union has now settled to plan a strike for the Tropicana Casino workers for a date yet to be set, if certain concessions are not made. Yes this is all for real.

In one of the worst economic downturns I've ever seen in my life time, with the ever increasing competition from neighboring states, and the push by the employee organizations of the casinos, these numb nuts are organizing a strike should they not get what they want in their next contract !!!??? 

Have any of you ever seen the movie from the late 1980's called "Roger and Me"? To the point, the story is by famed documentary film maker Michael Moore, with whom I'm still up in the air about my opinion on, but no doubt made a poignant point about the downfall of one town that once stood strong. That town is Flint Michigan. It once was the crown jewel of the auto industry and almost the entire city was employed or benefited from it. Not recognizing the changing tide of the economy, competition and the world in general a slow deterioration ended with complete fall from grace. 

Is Atlantic City and it's casino industry there? Sadly I think so. Workers striking over conditions in a market that is evaporating. Legislation that hinders growth of the industry and competition that continually is knocking at the door.

I hope I'm wrong. The irony is the same people probably responsible for the fall of Flint Michigan are the same people that are now overseeing the labor unions for the Tropicana. Please God don't let history repeat itself.

Atlantic City Casinos - A Gaming Market at a Cross Road

If you are one to follow the casino industry on a whole, there's no secret that the current economic climate has had a significant and direct negative impact on every gaming jurisdiction in the United States. Sure, there are a few individual gaming companies that are holding their own, but across the board things are very shaky. No where does it seem to be worse, however, than in Atlantic City New Jersey. I've written for some time my disgust with crippling legislation that has handicapped Atlantic City such as smoking bans and not moving forward with legalizing sports betting, not to mention a chronic and long standing problem with city officials unable to recognize and support the industry like it should. Well, I find no joy in the result, but there's no way any one can say I was wrong. Atlantic City and it's casino market is in a lot of trouble.

The cities oldest casino, Resorts Atlantic City is in jeopardy of going into foreclosure not being able to meet it's debt payments, the Tropicana Resort Atlantic City has been embroiled, for almost two years, with drama surrounding it's ownership, and most recently the Don himself, Donald Trump, whose name itself has been a fixture in the resort by the sea, has shed any official involvement with the direct operation and oversight of the Trump casinos that still share his name. 

What's a head for one of the largest casino and gaming markets in the country? Not sure. The reality is things don't look good. No doubt ever increasing competition from neighboring jurisdictions like Pennsylvania, Delaware and New York are eating into Atlantic City's long time dominance in the casino market, but add in the free fall of the economy, loss of jobs that result in less spendable cash by customers and drying up credit markets, and the outlook is scary. 

Atlantic City may have missed the boat and lost it's chance to secure a foothold as a destination resort. Infighting, lack of strong political leadership and lack of long term vision by the areas decision makers are to blame. Shame on them.