Donald Trump to Sell Atlantic City Casino
Hillay LaClair, CasinoIntensity Senior Editor
Atlantic City, once one of the most bustling casino resorts, has recently struggled to retain its business. This certainly holds true for financial guru Donald Trump, as he closes the sale on the Trump Marina Hotel Casino. With the sale of this estate, Trump will be left with two remaining resorts.
A smoking law was recently passed in Atlantic City that is said to have contributed to the decreased revenue of the gambling industry. The resort has been purchased by Coastal Development LLC. The Coastal Marina, affiliated with country-western songwriter Jimmy Buffet, has purchased the property for $316 million dollars. New owners hope that its new theme, "Margaritaville" will generate more business.
Reports show that the casino decreased operating profits by $4.8 million in the first quarter this year. With the smoking law having passed just a few months ago, one would be led to believe that there were other factors behind this recent loss of revenue. What then is the cause? Online Casinos.
Let’s face it; the world is going virtual. A report from Associated Press this week reveals a 17.7% decrease in gross operating profits in Atlantic City this quarter. Top online casino sites are proving to be quite detrimental to the business of land casinos. It is hard to compete with gambling sites that offer various bonuses, VIP slots and copious amounts of other activities without having to leave the house. This may have gone unnoticed as many casinos based off of reservations do not feel the effects of internet gambling.
Of course online casinos cannot be held accountable for the advancements in technology. The spread of virtual revenue reaches far beyond the gambling industry. Almost every conceivable good or service can now be purchased online, from books, music, hardware, toys and electronics down to Chinese take-out! This may perhaps be another reason why the ban on internet gambling should be lifted. If Trump’s marina had been permitted the same online cash flow as some of the country’s leading reservations, he may not have had to sell.
Do not allow these statistics to discourage you from electronic commerce. There are a number of advantages to internet gambling and shopping, and many companies have taken advantage of this growing market. Some of these benefits include shorter transaction and fulfillment cycles, lowered procurement administrative costs, reduced operating expenses, increased company profits and improved management practices. In addition to this, research will tell you that as inefficient tasks are improved, businesses can enjoy savings in the range of 65%.
E-commerce also has a positive impact on the environment. With so many people utilizing the internet for all of their needs, they needn’t drive to brick-and-mortar establishments. Not only will this save consumers money on gas (which is speculated to reach prices of $7 per gallon by the end of this year), but green companies around the globe claim that online retail is the most environmentally friendly. There you have it. Top online casinos are a part of the solution to the effects of global warming.
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