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Atlantic City’s dozen casinos saw gross operating profits fall by 64 percent in the first quarter, regulators said Wednesday.
Gov. Chris Christie’s signing of the Internet gambling bill Tuesday has initiated a race over which state will be the first to have a fully functioning online wagering system.
TRENTON -- Gov. Chris Christie signed a landmark bill Tuesday authorizing Atlantic City casinos to start offering Internet gambling, ushering in what supporters called a new era for Atlantic City.
Revel will file for bankruptcy and give creditors a greater equity stake in the casino, which will reduce its debt by more than $1 billion and allow it to continue operating, officials said late Tuesday.
Supporters of Internet gambling see it as a way to transform Atlantic City into the high-tech “Silicon Valley” of gambling.
Supporters of Internet gambling see it as a way to transform Atlantic City into the high-tech “Silicon Valley” of gambling.
Gov. Chris Christie will allow the state to legalize Internet gambling but only if lawmakers agree to limit online wagering to a 10-year test period and impose higher taxes on casino revenue, he said Thursday.
Lawmakers backed away from plans to allow “pop-up” casinos at the Meadowlands Racetrack, but said Thursday they remain committed to their push to expand gambling outside of Atlantic City.
Internet gambling legislation is headed to a floor vote by the state Assembly after passing the Appropriations Committee on Monday.
ATLANTIC CITY — Casino gross operating profits climbed 17 percent industrywide in the first quarter, with increases in nongambling revenue and higher hotel occupancy.
ATLANTIC CITY — By the time night fell on Atlantic City’s newest attraction, the party scene at Revel was in full swing and the resort was well on its way to establishing itself as a destination.
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