It’s happening at Atlantic City Hotels and Casinos

YES, the tough get going..Atlantic City is not enjoying the best times ever, nobody contests that. At the same time, though, when the going gets tough, that’s when smart people take advantage of the weak markets to get going. At a time like this, most casinos cut thier marketing spending. That’s when the smarter go all out and acquire new customers for a fraction of what it would have cost them during peak competitive season. Haven’t they read about Warren Buffet. I know it’s easier said than done, but the way Atlantic City casinos are falling down like a stack of cards, it makes one wonder who picked their top executives. Our belief is that the best will thrive. People and businesses that truly have a good product and the ability to adapt to changing times and believe in what they do, will thrive. The problem is that public casinos these days are often led by Managers and executives that lack such drive. Perhaps they are more focused on their fat bonuses and short-term benefit than the longer-term success of the company. Sometimes I wonder whether small business owners are perhaps driven a lot more toward their businesses compared to executives at large corporations. The move from family and privately owned casinos to commoditized, consolidated casino companies, did bring with it benefit of equality and regulation but took away some of the ownership and pride from Atlantic City’s casinos.

The Press of Atlantic City reported that non-gaming revenue at Atlantic City is still rising despite gambling revenue being 7.6% down in recent months. We can only hope that the smart execs at these companies don’t follow Trump’s example and actually face the receission head on and come out ahead.

Filed under: Uncategorized |