Rants and raves about burning topics that have caught my attention midweek, be it greedy corporate shenanigans, frustration or joy in regards to the Philly sports teams, a movie, show or DVD that has fired up my imagination, an intriguing personality, or my on-going battle to lose weight in our fast food world. — Lori Hoffman, Associate Editor, Atlantic City Weekly
Well I’ve decided to give into the obvious temptation to sum up the year and in this case, the decade that has passed in Atlantic City, NJ.
Let’s start with the obvious. Things have been better around here in the casino industry that drives this town, a lot better.
In fact it was not that long ago that Atlantic City was earning tons of praise for continuing its transform into a true destination resort. When the Borgata opened in July 2003, it ushered in an era of new prosperity. Atlantic City was instantly appealing to a younger demographic. The Borgata did everything in a big way and the other casinos felt the need to match this new industry giant. The improvements and expansions of many casinos in town, the success of The Walk, the Pier Shops at Caesars and the Pool After Dark at Harrah’s Resort provided more entertainment, late night and shopping options. Hotel rooms were being added, including the Borgata’s own Water Club.
Everything was coming up roses in our town but roses can wilt quickly and all that prosperity turned into near panic as the economic crash hit the casinos hard.

Carl Icahn
The hand wringing particulars included the expansion of slot parlors in Pennsylvania that took a serious bite out of revenues; the announcement of new casino construction, followed later by the news that all the new properties like Revel, Penn National Gaming and Pinnacle Entertainment were suspending their AC plans until the economy approved; and the bankruptcy woes faced by Trump Entertainment, the Tropicana and the possible foreclosure of Atlantic City’s first casino, Resorts.
Yes, there is a ton of gloom and doom in the air, but damn my optimism, there is a silver lining in that black cloud. The economy will get better. Billionaire Carl Icahn thinks so.
He heads a group of investors that bought the Tropicana, and he is looking to lock horns with Donald Trump for control of the Trump properties. The fact that the big boys still want to play in our sandbox is an encouraging sign. Sure, they are getting these properties at a fire sale, but the point is, they feel the economy will recover. It was also good news December 21 when it was reported that Colony Capital LLC handed Credit Suisse the deed to Resorts. That gives our town’s first casino new life.
Atlantic City will survive these trying economic times.