here in North Beach<\/a>,” Ocean Casino Resort CEO Eric Matejevich explained. “A guest can have three totally different casino experiences with maybe 40 different restaurants within a 10-minute walk.”<\/p>\n<\/blockquote>\nThe Showboat renovating some of its hotel rooms into extended-stay occupancies is the latest effort to transform Atlantic City into a destination that’s not solely focused on gaming. With the continued expansion of commercial gaming in states across the Mid-Atlantic and Northeast, analysts have said that’s exactly what the town must do.<\/p>\n
“Diversification is indeed the key. There’s no two ways about that for success,” Rummy Pandit, the executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism at Stockton University, said last year.<\/p>\n
MGM Resorts, parent company to the Borgata, announced in May a condo development in the Marina District adjacent to the Golden Nugget. The casino operator and a local real estate developer are partnering to build 200 luxury residences on a 14.7-acre parcel of land between Brigantine Boulevard and Huron Avenue.<\/p>\n
“We believe there is strong demand in the high-quality primary and second home market,” MGM said in a statement.<\/p>\n
Tourism Outlook<\/b><\/h2>\n
New Jersey saw overall tourism increase more than seven percent last year. Atlantic City benefitted, as the casino town reported gross gaming revenue of $2.51 billion \u2013 a four percent increase.<\/p>\n
However, with the added competition, operating profits actually decreased 15 percent. Gaming analysts remain optimistic due to a strong national economy and low unemployment<\/strong><\/p>\nThe US Bureau of Labor Statistics reports that unemployment in the Garden State is at just 3.8 percent, the lowest rate in a decade.<\/p>\n","protected":false},"excerpt":{"rendered":"
Atlantic City looks much different today than it did a few years ago. The shuttered Revel and Trump Taj Mahal casinos have reopened as Ocean Casino and Hard Rock, and the Showboat has reopened as a non-gaming Boardwalk hotel. This week, the city continued its renaissance with the news of extended-stay options now available at […]<\/p>\n","protected":false},"author":25,"featured_media":108748,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\n
Atlantic City Rebirth Continues With New Boardwalk Housing Options<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n