Gambling Resumes In Atlantic City After SandyGolden Nugget Reopens, Borgata To Follow Late Friday Afternoon |
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Atlantic City’s dominant but fragile industry is back in action. New Jersey Gov. Chris Christie announced Friday morning that its 12 casinos are permitted to reopen.
All casinos in Atlantic City can reopen immediately. In addition, the mandatory evacuation order for AC residents has been lifted. #Sandy
— Governor Christie (@GovChristie) November 2, 2012
Soon after Gov. Christie gave the word, the Golden Nugget started taking bets from gamblers, the Associated Press reported.
The Borgata is scheduled to get going again at 4 p.m. EST.
The casinos and their employees were part of a mandatory evacuation of the city as Hurricane Sandy barreled down on the North East. So far, more than 100 people in total have been confirmed dead from the massive storm, according to the latest reporting from Reuters.
The overall financial cost of the storm is not yet known, but it’s estimated to be in the billions of dollars. It’s also unclear how much gambling revenue Atlantic City’s casinos missed out on after closing their doors on Sunday.
For comparison: When the casinos were shutdown for three days last year because of Hurricane Irene, they collectively lost about $45 million worth of potential revenue.
Despite the massive flooding and a piece of the city’s iconic boardwalk succumbing to Sandy’s wrath, the casinos themselves haven’t reported much damage, aside from some broken windows, the Associated Press reported on Tuesday.
While the casinos get back on track, many of the area’s residents are suffering from some of the other effects of the hurricane. On Friday, the Press of Atlantic City reported “widespread looting” that took place when the city and its people were the most vulnerable.
According to a recent MSN Money piece titled “America’s own Third World,” Atlantic City endures a poverty rate of 32.3 percent. The unemployment rate was at 12.4 percent as of April.
Atlantic City’s casinos have, in a strictly corporate sense, been in trouble as well. Revenues have been declining as a result of increased gambling competition in the region and the country’s economic crisis taking a toll on the majority of its citizens. New Jersey has plans for sports betting, and perhaps Internet gambling, to plug the leak for its businesses.
Photo of Atlantic City posted on social media site Twitter.
Follow Brian Pempus on Twitter — @brianpempus
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