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Beating the Odds: The Transformation of Atlantic County. Robert Checchio Dyana Tanasy January 31, 2006. Objectives. Examine Atlantic City’s economic growth Compare Atlantic City to a successful Model Consider future obstacles to growth

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beating the odds the transformation of atlantic county

Beating the Odds:The Transformation ofAtlantic County

Robert Checchio

Dyana Tanasy

January 31, 2006

objectives
Objectives
  • Examine Atlantic City’s economic growth
  • Compare Atlantic City to a successful Model
  • Consider future obstacles to growth
  • Present a strategy for growth and success for Atlantic County
outline
Outline
  • Atlantic City
  • Las Vegas
  • Key Differences
  • Proposed Solution
  • Transportation Issues
  • Issues to Resolve
atlantic city
Atlantic City
  • Historic tourist location
  • Famous boardwalk
  • Home to Miss America, the Steel Pier, Lucy, and salt water taffy
  • Tourism declined after WW II
atlantic city gaming comes in
Atlantic City – Gaming Comes In
  • Legislation introduced in 1976
  • Economic Impact
    • Gaming Revenue
    • Non-gaming Revenue
atlantic city why not more
Atlantic City – Why not more?
  • Questions to be answered:
    • Why is Atlantic City not experiencing more robust economic growth?
    • Are there demographic factors?
    • Are there geographic factors?
    • Are there political/policy factors?
las vegas nevada
Las Vegas, Nevada
  • City developed first as a rail stop in 1980 – first rails completed 1904
  • Gambling was banned October 1, 1910
  • Legalized gambling returned to Nevada during the Great Depression (1931)
  • Casino boom started in the 1940s, and surged during the 1950s

Source: http://www.lvol.com/lvoleg/hist/lvhist.html

las vegas the second boom
Las Vegas – The Second Boom
  • The introduction of gaming in Atlantic City led to a second boom – the creation of the “mega-resort”
  • Hotel-casinos began the race to become full-blown destination resorts for travelers, vacationers, gamblers, conventioneers and all members of the family.
rooms available
Rooms Available

Source: Las Vegas Convention and Visitors Authority, Atlantic City Convention Center Authority

past and planned developments
Past and Planned Developments
  • The Borgata
  • The Walk
  • Showboat’s House of Blues
  • Tropicana’s “The Quarter”
  • Pier at Caesars
employment levels last 14 years
Employment Levels – Last 14 Years

Source: http://www.economagic.com/blsmsa.htm

competition ahead
Competition Ahead
  • New York Racetrack Slot Machines
  • New York Indian Resort Casinos
  • Connecticut Indian Casinos
  • Delaware
  • West Virginia
  • Maryland (planned)
  • Pennsylvania (planned)
  • The Internet…
key differences
Key Differences
  • Fewer restrictions on gaming areas
  • Availability of land for expansion
  • Emphasis on (and growth of) non-gaming vs. gaming revenues
  • Flip-side: Nothing in Atlantic City except gaming
  • Atlantic City as a “daytime destination”, vs. Vegas as an “overnight destination”
  • Atlantic City more vulnerable to competition
our proposal
Our Proposal:

XANADU SOUTH

xanadu as a model
Xanadu as a Model
  • Model after Xanadu Meadowlands
  • Location: eastern Hamilton Township
  • Focus on growth of non-gaming revenue
    • Restaurant and Retail
    • Entertainment
    • Hotels
  • Goal: the “new” Atlantic County
    • Create a new overnight destination: a family-oriented entertainment center as an adjunct to the gaming district
xanadu south key components
Xanadu South Key Components
  • Lodging
  • Conference Centers
  • Restaurants
  • Family-focused Entertainment
  • Sports and Amusements
xanadu south benefits
Xanadu South Benefits
  • Jobs
  • Economic Development
  • Tax Revenue
  • Infrastructure Development
xanadu south transportation
Xanadu South - Transportation
  • Eliminate the need for personal automobiles
  • Personal Rapid Transit connecting Xanadu-South to:
    • Atlantic City International Airport (ACY)
    • Atlantic City – “The Boardwalk”
    • Park-and-Ride Centers at appropriate locations at AC Airport and near the Garden State Parkway Atlantic City Expressway
  • Extend PATCO to Xanadu-South
xanadu south personal travel
Xanadu South – Personal Travel
  • Based on the successful system in service since the 1970s in Morgantown, WV
xanadu south patco extension
Xanadu South - PATCO Extension
  • Draw visitors from Philadelphia
xanadu south issues
Xanadu South – Issues
  • Legislative
    • Gaming currently restricted to Atlantic City (limits growth potential)
  • Environmental Concerns
    • Use Xanadu Meadowlands as the model
  • Financing
    • Casino revenues
    • Private developers
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