Regardless of virus, Atlantic Metropolis casinos reinvesting tens of millions

With COVID-19 restrictions limiting how many individuals can gamble inside, and income and income plunging, this won’t sound like the very best time for Atlantic Metropolis’s casinos to be spending large on renovations

ATLANTIC CITY, N.J. — With COVID-19 restrictions limiting how many individuals can gamble inside, and income and income plunging, this won’t sound like the very best time for Atlantic Metropolis’s casinos to be spending large on renovations.

And but they’re, trying to a post-pandemic future when gamblers will probably be in search of the newest factor. They’re investing a whole lot of tens of millions of {dollars} with these days in thoughts.

The most recent to open the company checkbook is Laborious Rock, which advised The Related Press on Monday it’s going to spend $20 million to renovate resort suites, open a Starbucks outlet, buy new slot machines and tables video games, add a brand new restaurant and improve its beachfront facilities.

The renovations are available a span of some weeks wherein the Ocean On line casino Resort introduced it’s spending $15 million on upgrades to the on line casino flooring, in addition to out of doors facilities like swimming pools, cabanas and the seaside, and Harrah’s unveiled three new eating places, a brand new spa and a renovated foyer bar.

Harrah’s father or mother firm, Caesars Leisure, lately outlined specifics of the $400 million it pledged New Jersey playing regulators it might make at its three Atlantic Metropolis casinos (Caesars, Harrah’s and Tropicana) throughout final 12 months’s change-of-ownership hearings.

And Bally’s Corp. is plowing $90 million again into the Atlantic Metropolis on line casino of the identical title that it acquired from Caesars Leisure final 12 months.

Each these investments will span three years.

And Resorts is opening a brand new digital tables video games space later this month with 19 terminals, and will probably be making a “important funding” in new slot machines this 12 months, and opening a brand new restaurant.

Laborious Rock is opening its pockets lower than three years after spending a half-billion {dollars} to intestine the previous Trump Taj Mahal on line casino and switch it right into a Laborious Rock on line casino resort.

“We have to reinvigorate Atlantic Metropolis,” stated Laborious Rock president Joe Lupo. “With declining income, there are solely so many guests on the market. It is develop into extra aggressive. These properties like Laborious Rock which might be in it for the long term, are investing their {dollars} now.”

For Laborious Rock, the majority of the $20 million will go towards renovations of 91 visitor suites. However each resort room within the complicated will get new televisions and lighting as effectively.

Sound upgrades may also be made to the on line casino’s Laborious Rock Reside at Etess Enviornment and Sound Waves live performance venues. Assembly and conference area will probably be refurbished, as will the indoor pool.

However the virus will not final perpetually, and when prospects do return in droves, casinos need them to come back to their services.

By Lupo’s reckoning, there are three “new” on line casino firms in Atlantic Metropolis: his personal, which opened Laborious Rock in June 2018; the upcoming 50% partnership within the Ocean on line casino by the Ilitch household of Detroit (Ocean opened the identical day as Laborious Rock did); and the brand new Caesars Leisure, which stored the title however adopted the administration of the previous Eldorado Resorts in final 12 months’s merger.

“With this new funding comes a necessity for our firms to make sure that their product and the expertise they provide meets the wants of individuals, particularly at a time when the town has been declining since we reopened in July,” he stated. “We notice we’ve a chance. The fixed change provides our guests one thing new to look ahead to, and that has at all times been vital in Atlantic Metropolis.”

It additionally takes into impact the continuing competitors throughout it, from casinos in Pennsylvania, Delaware, New York and different northeastern states that had been consuming away at Atlantic Metropolis’s market even earlier than the pandemic.

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Observe Wayne Parry at http://twitter.com/WayneParryAC

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