Assembly resolution no. 77 State of new jersey 216th legislature
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ASSEMBLY RESOLUTION No. 77 STATE OF NEW JERSEY 216th LEGISLATURE INTRODUCED FEBRUARY 10, 2014 Sponsored by: Assemblyman JOSEPH CRYAN District 20 (Union) SYNOPSIS Honors the Atlantic Club and laments its closing. CURRENT VERSION OF TEXT As introduced. 
An Assembly Resolution honoring the Atlantic Club Casino Hotel, and lamenting its closing and effect on Atlantic City gaming. Whereas, Atlantic City, referred to as “America’s Playground” in earlier times, is known for its beach, Boardwalk and casinos, and dating back to the 1890s was a place where gamblers seeking a pay day could play roulette, poker or other games of chance in the city’s back-rooms and gambling dens; and Whereas, Casino gambling in Atlantic City became legal in 1976, and the original Golden Nugget Hotel & Casino, located at the Boardwalk and Boston Avenue, opened on December 12, 1980, later to be known as the Atlantic Club Casino Hotel; and Whereas, The Golden Nugget was Atlantic City’s top-earning casino for a time, and its widely seen advertising campaign featured Frank Sinatra, who often performed there; and Whereas, As the ownership of the casino changed, so did its name, which was at various times The Grand, Bally’s Grand, the Atlantic City Hilton, ACH, and finally, the Atlantic Club Casino Hotel; and Whereas, In recent years, the Atlantic Club focused on attracting local residents and low-rollers, offering discounts to attract those gamblers away from more expensive casinos, and its amenities included a Beach Bar with private cabanas and wooden gazebos, while many of the guest rooms offered unimpeded views thanks to the Atlantic Club’s location on the southern end of the Boardwalk, away from high-rise buildings that dot other areas of the promenade; and Whereas, Competition from casinos in neighboring Pennsylvania started in 2006, the loss of the Miss America Pageant for several years before returning in 2013, and the Great Recession of 2008 took their toll on tourism and gaming in Atlantic City, reflected in seven consecutive years of declining gaming revenues; and Whereas, Although the Atlantic Club’s niche marketing strategy improved its financial condition, it did so too slowly to avoid a bankruptcy filing in late 2013; and Whereas, Two competitors jointly bought the Atlantic Club out of bankruptcy and divided its assets, resulting in the closure of the casino on January 13, 2014, putting over 1,600 employees out of work, reducing the number of casinos in the city to 11, and reducing the number of hotel rooms available to tourists by over 800; and Whereas, The unfortunate closing of the Atlantic Club is a great loss to Atlantic City and its gaming industry, and an untimely hardship for over 1,600 hardworking and loyal employees who lost their jobs; now, therefore, Be It Resolved by the General Assembly of the State of New Jersey: 1. This House honors the Atlantic Club Casino Hotel and laments its closing, and the negative effect on Atlantic City and its gaming industry. 2. Copies of this resolution, as filed with the Secretary of State, shall be transmitted by the Clerk of the General Assembly or the Secretary of the Senate to the Mayor of Atlantic City. STATEMENT The Atlantic Club Casino Hotel at the Boardwalk and Boston Avenue in Atlantic City has had multiple names and owners over the years, opening as the original Golden Nugget Hotel & Casino in 1980. The Golden Nugget was, for a time, the highest earning casino in Atlantic City and was known for its commercials featuring singer Frank Sinatra, who often performed at the casino. In recent years, competition from casinos in Pennsylvania intensified, the Great Recession and the temporary loss of the Miss America Pageant took their toll on Atlantic City tourism and revenues. In response, the Atlantic Club marketed itself as a “locals” casino, appealing to local residents and those of modest means as the value priced alternative to more expensive casinos. Unfortunately, that strategy, while successful, was insufficient to avoid bankruptcy, and subsequent purchase by competitors who divided the assets of the Atlantic Club. The closing of the storied and unique Atlantic Club is lamentable as it results in the loss of over 1,600 jobs, and brings the number of operating casinos down to 11, diminishing Atlantic City and casino gaming in the process. Directory: 20142015 20142015 -> Assembly, No. 3901 state of new jersey 216th legislature 20142015 -> All times Eastern (Updated 1/12/15) 20142015 -> Assembly resolution no. 186 State of new jersey 216th legislature 20142015 -> Assembly, No. 3809 state of new jersey 216th legislature 20142015 -> Senate, No. 2351 state of new jersey 216th legislature 20142015 -> Assembly, No. 4835 state of new jersey 216th legislature 20142015 -> Assembly resolution no. 108 State of new jersey 216th legislature 20142015 -> State of new jersey 20142015 -> Senate resolution no. 53 State of new jersey 216th legislature 20142015 -> Assembly, No. 2791 state of new jersey 216th legislature Download 17.73 Kb. Share with your friends:
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