ATLANTIC CITY, NJ-Caesars Entertainment CEO Gary Loveman says that the firm's $125-million convention center under construction next to the Harrah's Resort Atlantic City shows the gaming company's faith in Atlantic City's future.
However, Loveman would not say whether Caesars intends to close any more of its gaming holdings along Atlantic City's Boardwalk. When asked if his company is finished closing casinos in Atlantic City in the next one to five years, he responded, "I can't comment on something that might happen in one to five years."
At a topping off ceremony for its convention center project, Loveman mentioned possible issues at Bally's, according to the Associated Press. The challenge in Atlantic City is not simply revenue but cost," he said. "Given the balance of revenue we enjoy at Bally's, we need to make money there."
Loveman said that the company's future plans would be based in large part on the recommendations made by Gov. Chris Christie's study commission on Atlantic City's future. "For the time being, we'll wait and see," Loveman said. See story at northjersey.com.
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