AC Biz Report: Good For Now, Questions Ahead
By KYW's David Madden
(ATLANTIC CITY, NJ) Another sign that trends are beginning to change for the better in Atlantic City, at least on the business side of things.
Quarterly numbers from a tourism watchdog group suggest the summer went well, but there could still be difficult times ahead.
Dr. Brian Tyrrell works at the Levenson Institute for Gaming, Hospitality and Tourism at Stockton University. He says parking fees at casinos, paired with tax revenue from hotel stays and a luxury tax in Atlantic City, all played well in July and August. Then again, that's prime time down the sore.
"September was more muted with the parking fee, that is we had less individuals," Tyrrell tole KYW Newsradio, "and yet the lodging fee was still up in September on a per property basis"
That suggests things have settled after the 2014 closures of four casinos. The numbers could change, though.
"If and when the Revel opens back up, that's going to change the supply and demand dynamic in the city most notably," Tyrrell said. "And then in the slightly longer term, there's certainly the question of the North Jersey casinos could impact the demand by changing the supply dynamics in the larger region."
And that could hurt Atlantic City big time.
