Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint and got away with an increase of than $180,000 from Caesars Atlantic City on Monday.

Things are not great right now in Atlantic City. Casinos are shutting, profits are dropping and profits are drying up month after month. It’s a right time when resorts are carefully monitoring every buck that will come in and out of their stability publications. In short, it’s concerning the time that is worst possible for a six-figure sum to go missing in one of the city’s casinos.

Based on police, two masked thieves walked out of Caesars Atlantic City with increased than $180,000 on Monday after a smash-and-grab raid on the casino. The robbery apparently took place on Monday morning, though police did not immediately release much information about the main points of the crime. In accordance with USA Today, trooper Alina Spies stated that police were investigating the matter, but that they did not want to produce any information that might hinder the research that was underway.

Early Robbery morning

Neighborhood media, citing authorities sources, stated that the robbery included two suspects who entered Caesars Atlantic City around 6 am. One or more of them had a gun and pulled it before stealing two plastic boxes that contained the stolen cash. Then they fled the scene in car at approximately 6:20 am, according to a police bulletin.

The truth is being investigated by the New Jersey State Police Gaming Bureau, which suggests that the robbery took place inside the casino. If the crime had taken place in a hotel or other area that is public it might be customary for city police to deal with the matter.

While $181,000 may not be much in the grand scheme of things for a casino that is majorCaesars earned $28.8 million in income during June alone), the theft comes at the worst possible time for an Atlantic City venue. The town has been struggling seemingly on all fronts, and that’s mostly driven by struggling casino properties. Revenues at the city’s gambling enterprises have been falling for decades, so that as many as four casinos could wind up shutting throughout the course of 2013.

August one of those casinos, the Showboat, is operated by Caesars and is scheduled to close at the end of. Others include the Atlantic Club, which closed in January, the Trump Plaza, which is planned for closure later this season, as well as the Revel, which can be currently in bankruptcy court and may close in cases where a customer just isn’t discovered.

Caesars Atlantic City occupies a big, high-rise building that takes up a block involving the famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It is ambiguous how the perpetrators exited or entered the building.

Casino Heists Not Unheard Of

While casino security is practically second-to-none, that does not mean that it’s impossible for crooks to occasionally pull a heist. The schemes, however, are rarely because complex as something you’d see in Ocean’s 11.

For instance, this year, a gunman wearing a motorcycle helmet dashed to the Bellagio regarding the nevada Strip. He proceeded to take potato chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, ended up being fundamentally caught months later on and ended up being sentenced to jail.

Atlantic City Casino Struggles Hurting Regional Economy

Atlantic City’s beaches may help attract tourists that aren’t enthusiastic about gambling. (Image:

As Atlantic City watches gambling enterprises close left and right, officials acknowledge that the populous town will have to locate methods to diversify as gambling revenues continue steadily to tumble. They also acknowledge that this isn’t going to be a transition that is easy the city has gotten utilized to relying on the gaming industry, and which is a hard habit to break. But what might not be immediately apparent is just how much this shift in priorities could hurt the Jersey that is entire shore.

Atlantic City’s casinos have long brought tourists to the location, gamblers and others who’ll then spend time at other venues across the shore. But it’s more than that: according to a 2008 study by Rutgers University, some 100,000 jobs in New Jersey were linked with the video gaming industry in one single way or another. That accounts for around two percent of the state’s total workforce.

‘When Atlantic City suffers, the entire area suffers,’ said David Breeden, administrator for town of Barnegat.

Several Casinos Closing This Year

Up to four Atlantic City casinos which were operating in 2013 may be closed by the end of this present year. The Atlantic Club closed in January, as the Showboat plus the Trump Plaza are both expected to close in the next few months. The Revel may also shut this year if a buyer can’t be located.

With casino profits under some pressure from rivals in neighboring states (particularly Pennsylvania, which recently surpassed New Jersey in regards to gaming revenues), Atlantic City is now attempting to find other ways to attract visitors outside of slot machines and table games. That does not mean abandoning the casinos entirely, but visitors that are rather giving reason to end with a city that is seemingly in the decline.

That could mean more destinations for families, bringing larger conventions to the city, and making sure amenities are there any for those who are only gamblers that are casual. But that’s going to simply take some time to perfect, and the transition is anticipated to be rough.

‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not many corporations that are big hire people down here. The gambling enterprises have been a boon for folks down here.’

A Painful Change

Even if Atlantic City does manage to rebound, it’s unclear whether it’ll ever be just like it had been in its gaming heyday. New organizations may create jobs, but there’s no guarantee that they’re going to function as same sorts of high-paying opportunities afforded by the casinos.

‘We will endure the pain sensation that comes with transitioning from an economy extremely reliant for a industry that is single’ said Atlantic City mayor Don Guardian.

On the bright side, the town does still draw about 27 million visitors each 12 months, generally there’s certainly an abundance of disposable earnings to go around if the city find the proper way to capture it. There are also plenty of resources that could help Atlantic City make this kind of transition: there is still the world-famous boardwalk, while the beaches are nevertheless an excellent draw during the summers.

But while attempting to squeeze more out of tourism will help, some certainly experts believe Atlantic City should search for other possibilities for development too.

‘I’m all for trying to increase the size associated with the pie that is non-gaming but not just hospitality and tourism,’ Deborah M. Figart, professor of training and economics during the Richard Stockton university of brand New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, which are not a single- or two-industry city, those towns have a tendency to do very well and prosper even in times of recession.’

Nevada Casinos Could Ban Smoking in Near Future

More casino areas are getting smoke-free, and a ban that is total Nevada casinos could be just around the corner. (Image: Mel Evans/AP)

The public image of the casino floor was one of smoke-filled tables and a cloudy haze throughout the halls in the old days of gambling. On the years, that vision has largely changed: enter any major casino, and there will tend to be large swaths of smoke-free areas for patrons who would choose a slightly more gambling experience that is breathable. Still, at least in Nevada, there has nevertheless been room for smokers and non-smokers alike.

But based on some analysts, that may be changing soon. Many states with casino gambling have previously outlawed smoking in gambling enterprises, and Macau is currently planning to implement a ban later this year. That and other indications have actually led Deutsche Bank gaming analyst Andrew Zarnett to predict that a smoking cigarettes ban could come to Nevada in the next two years.

Zarnett cited a variety of the move by Macau, which could now be a market trendsetter, as well as the study that is continued of hazards of second-hand smoking cigarettes as factors leading him to genuinely believe that this kind of ban could be coming sooner in the place of later.

Smoking Ban Could Be Costly

But he additionally warned that such a ban could price Nevada casinos a complete large amount of money. He pointed out that other states have experienced significant income declines after passing such laws within the past: Delaware’s casino profits fell 11.3 % after a 2002 ban, while Illinois saw a 20.9 percent drop after their own 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it were to accomplish similar.

That might mean that such a ban would not be complete, and would nevertheless give smokers a location where they are able to sneak in a few puffs that are good. In Macau, smoking cigarettes would still be allowed in the high-end areas where VIP gamblers congregate, and there will be smoking that is special with segregated ventilation systems. The latter is the solution now set up in Las Vegas’ international airport, McCarran, where smokers sit inside large lucite-surrounded free-standing ‘rooms’ that are completely closed off from the primary airport areas, where smoking cigarettes is forbidden.

The Macau ban will go into effect on 6, just after the Golden Week holiday ends october. Any cigarette smoking areas that are built in casinos must account for not even half of the overall gaming area in each venue.

No Immediate Push for a Ban

According to officials in Nevada, there’s no push that is immediate ban smoking in gambling enterprises anywhere in hawaii, and there is no public groundswell to do this. But even that it sounds like it could be if it were to happen, it may not be the shock to the system. In 2006, Nevada voters banned smoking cigarettes in all places that are public than casino floors. And some casino areas are usually smoke-free, including poker that is many and sports books. The whole planet Series of Poker was played in an environment that is smoke-free year.

And even though those projections of major losings may be scary, not everyone agrees that smoking bans are directly associated to casino profits.

‘Bad weather, fuel prices, market saturation, competition, casino debt, the recession that began in 2008 that severely affected all gaming profits, including Vegas, would be the other cards lacking using this deck,’ said Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the reason for revenue declines, rather, it is bad business planning.’

And even if the casinos aren’t planning to put a ban into place right away, Steinberg agrees that it will come eventually.

‘Casino smoking bans are everywhere and inevitable,’ she said. ‘Nevada is next and the gaming industry understands it.’