Monday, January 28, 2008

Look out, here comes Atlantic City’s transformation

Billions of dollars, big plans set to make over the aging town

In 1989, Steve Wynn’s Mirage ushered in a megaresort era marked by a wave of themed and whimsical luxury hotels.
Now, Atlantic City — reeling from competition for penny-pinching slot players — is on the cusp of a sort of salvation, as experts predict a Las Vegas-style transformation of the aging seaside town.
At least three casino operators — each with connections to Wynn and his epic-making Mirage — are pursuing luxury resorts in Atlantic City even as the East Coast gambling mecca is reporting its first annual decline in gaming revenue since the first casino opened there in 1978.
Their confidence, not surprisingly, springs from Las Vegas, which hasn’t always had growth years either.
Las Vegas Sun

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