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

Things are not great right now in Atlantic City. Gambling enterprises are shutting, profits are dropping and profits are drying up month after month. It is a time when resorts are carefully monitoring every dollar that is available in and out of their balance publications. Simply speaking, it’s concerning the time that is worst possible for the six-figure sum to go missing from a of the city’s casinos.

Based on police, two masked thieves walked out of Caesars Atlantic City with additional than $180,000 on Monday after a raid that is smash-and-grab the casino. The robbery reportedly occurred on Monday early morning, though police did not immediately release information that is much the important points of the crime. In accordance with USA Today, trooper Alina Spies said that police were investigating the matter, but which they don’t want to deliver any information that may hinder the research that was underway.

Early Morning Robbery

Regional media, citing police sources, stated that the robbery involved two suspects who entered Caesars Atlantic City around 6 am. At least one 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 up to a police bulletin.

The scenario 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 occurred 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 possibly not be much in the grand scheme of things for a major casino (Caesars 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 town’s gambling enterprises have been falling for a long time, and also as many as four casinos could end up closing 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 shut in January, the Trump Plaza, which is scheduled for closure later this present year, and also the Revel, which will be currently in bankruptcy court and might close if a customer is not discovered.

Caesars Atlantic City occupies a large, high-rise building that uses up a block between your famous boardwalk that runs along the Atlantic Ocean and Pacific Avenue between Arkansas and Missouri avenues. It’s unclear how the perpetrators exited or entered the building.

Casino Heists Not Unheard Of

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

For instance, this season, a gunman wearing a motorcycle helmet dashed in to the Bellagio in the vegas Strip. He proceeded to steal potato chips from a craps table while brandishing a handgun, fleeing on his motorcycle. The thief, Anthony Carleo, had been ultimately caught months later and had been sentenced to prison.

Atlantic City Casino Struggles Hurting Regional Economy

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

As Atlantic City watches casinos close left and right, officials acknowledge that the city could have to find ways to diversify as gambling revenues continue steadily to tumble. They also admit that this isn’t going to be a easy transition: the city has gotten used to relying on the gaming industry, and that will be a hard habit to break. But just what might never be immediately apparent is simply how much this shift in priorities could hurt the Jersey that is entire shore.

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

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

Several Casinos Closing This Year

Up to four Atlantic City casinos that have been operating in 2013 may be closed by the end of this season. The Atlantic Club closed in January, as the Showboat as well as the Trump Plaza are both expected to close in the next few months. The Revel may also shut this year if a buyer can not be located.

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

That could mean more attractions for families, bringing larger conventions to the town, and ensuring amenities is there for people who are only gamblers that are casual. But that’s likely to just take some right time to perfect, and also the transition is expected to be rough.

‘It’s coming at a bad time,’ said Stafford Mayor John Spodofora. ‘There are not many corporations that are big hire individuals down here. The casinos happen a boon for folks down here.’

A transition that is painful

Even if Atlantic City does manage to rebound, it’s unclear as it was in its gaming heyday whether it will ever be the same. New businesses may create jobs, but there’s no guarantee that they can end up being the same kinds 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 single industry,’ said Atlantic City mayor Don Guardian.

Regarding the bright side, the city does still draw about 27 million visitors each year, so there’s certainly plenty of disposable income to go around if the city will get the right way to capture it. There are also plenty of resources that could help Atlantic City make this kind of transition: there’s still the world-famous boardwalk, and also the beaches are still an incredible draw during the summers.

But while trying to squeeze more out of tourism will help, some certainly specialists believe Atlantic City should search for other possibilities for growth also.

‘I’m all for wanting to increase the size of the non-gaming cake, yet not just hospitality and tourism,’ Deborah M. Figart, teacher of education and economics at the Richard Stockton College of brand New Jersey, told The Star-Ledger. ‘Cities that have diverse economies, that aren’t a one- or town that is two-industry those urban centers 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)

Back many years ago of gambling, the general public image of the casino floor ended up being one of smoke-filled tables and a cloudy haze through the halls. On the years, that vision has mostly changed: enter any major casino, and there could be large swaths of smoke-free areas for patrons that would choose a somewhat more breathable gambling experience. Still, at the least in Nevada, there has nevertheless been room for smokers and non-smokers alike.

But in accordance with some analysts, which may be changing soon. Many states with casino gambling have outlawed smoking in casinos, and Macau is already likely to implement a ban later this year. That and other signs have actually led Deutsche Bank video gaming analyst Andrew Zarnett to predict that the smoking cigarettes ban could come to Nevada in the next two years.

Zarnett cited a variety of the move by Macau, which may now be a business trendsetter, as well as the study that is continued of dangers of second-hand smoking cigarettes as factors leading him to believe this type of ban could possibly be coming sooner rather than later.

Smoking Ban Could Be Expensive

But he also warned that such a ban could price Nevada casinos large amount of money. He pointed out that other states have observed revenue that is significant after passing such laws into the past: Delaware’s casino profits fell 11.3 percent after having a 2002 ban, while Illinois saw a 20.9 percent drop after unique 2007 ban. He predicted that Nevada could see perhaps a 7.5 percent decline if it were to complete the exact same.

That might mean that such a ban wouldn’t be complete, and would still give smokers a place where they might sneak in a couple of good puffs. In Macau, smoking cigarettes would still be allowed into the high-end areas where VIP gamblers congregate, and you will have smoking that is special with segregated ventilation systems. The latter is truly 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 main airport areas, where cigarette smoking is forbidden.

The Macau ban will go into effect on 6, just after the Golden Week holiday ends october. Any smoking cigarettes areas being built in gambling enterprises must take into account not even half regarding 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 casinos anywhere in their state, and there has been no public groundswell to do so. But even if it were to occur, it may not be the shock to the system it sounds enjoy it could be. 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 many poker spaces and sports books. The entire World number of Poker had been played in an environment that is smoke-free year.

Even though those projections of major losings may be frightening, not everyone agrees that smoking bans are directly related to casino profits.

‘Bad weather, fuel rates, market saturation, competition, casino debt, the recession that began in 2008 that severely impacted all video gaming profits, including Vegas, would be the other cards lacking with this deck,’ said Stephanie Steinberg, chairwoman of Smoke-Free Gaming of America. ‘Smoking bans are not the reason behind revenue decreases, rather, it is poor business preparation.’

And even if the gambling enterprises aren’t likely to place a ban into place right away, Steinberg agrees it shall come eventually.

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