New Jersey Gov Christie signs internet gambling into law

TRENTON — Gov. Chris Christie signed a measure today allowing internet gambling in Atlantic City, a move his administration expects to nearly double casino revenue and provide a lifeline to the struggling seaside resort. "This was a critical decision, and one that I did not make lightly," Christie said in a statement. "But with the proper regulatory framework and safeguards that I…

Read More

Online gambling giant moves to purchase Atlantic Club casino in Atlantic City

Posted: Wednesday, January 16, 2013 By DONALD WITTKOWSKI, Staff Writer The parent company of online gambling giants PokerStars and Full Tilt Poker has agreed to buy the Atlantic Club Casino Hotel in a deal that would help revive one of Atlantic City’s weakest casinos. Rational Group, based on the Isle of Man in the British Isles, has filed papers with…

Read More

Worst may be over for Atlantic City casinos as competition starts to flatten out

Posted: Sunday, January 13, 2013 By HOA NGUYEN Staff Writer At the start of 2006, 15 casinos were within about 600 miles of Atlantic City. Today, that number has nearly tripled to 39 casinos, including six that opened in 2012. The crowded scene directly affected Atlantic City, which previously had seen gambling revenue grow consistently year-over-year. But in 2006, at the…

Read More

Most storm-damaged properties are second homes, creating a dilemma for owners and governments

Posted: Sunday, December 2, 2012 By LEE PROCIDA Staff Writer HurricaneSandy’s impact on the New Jersey shore line was felt far from the coast in a number of ways, but mainly because most people who own property by the ocean live somewhere else. An analysis of tax records by The Press of Atlantic City shows the majority of residential properties in…

Read More

Historically Low Mortgage Rates Hit Atlantic City Area

Financing Options Rate Points Annual Percentage Rate 30 Yr Fixed Conforming 3.125% 0 3.15% 30 Yr Fixed JUMBO                                **loan amounts from $417,001 to $2,000,000** 3.990% 0 4.02% 15 Yr Fixed Conforming 2.500% 0 2.546% 5/1 ARM Conforming 2.125 0 2.836% **ARM Product listed is Fixed for the first 60 Months** Gina Tubertini Loefflad VP, Regional Residential Loan Sales Manager Cell:…

Read More

Casino revenue climbs 13 percent on calmer August weather

            Posted: Tuesday, September 11, 2012       By DONALD WITTKOWSKI, Press of Atlantic City   Hurricane-free weather in August and the newly opened Revel megaresort gave Atlantic City’s struggling casino industry its first monthly revenue increase since December. Altogether, the 12 casino hotels won $313.9 million from gamblers in August, a nearly 13 percent increase compared…

Read More

Atlantic City – The Fall & Rise, The best it yet to come!

The Fall & Rise of Atlantic City By Roger Gros   Thu, Aug 30, 2012 Atlantic City's struggles are well known but the strategy to escape those problems isn't as easily understood. Publisher Roger Gros spent the summer interviewing the major players in town and explains how the city is positioning itself to become the hip destination on the east coast. In truth,…

Read More

CNBC HIGHLIGHTS Best Cities to Buy a Vacation Home

According to CNBC Atlantic City is one of the best places to buy a vacation home. Boardwalk Condominiums and beach homes have dropped near in half over the past seven years. New construction has dried up and developers and motivated sellers are making this a great time to buy on the water. 4. Atlantic City, NJ Median Home Price:  $150,000…

Read More

John Palmieri takes over Casino Reinvestment Development Authority today

Posted: Monday, October 3, 2011 By EMILY PREVITI, Staff Writer Press of Atlantic City ATLANTIC CITY - The state Casino Reinvestment Development Authority's new executive director starts today, and officials hope increased investment in the resort will soon follow. [caption id="attachment_713" align="alignleft" width="300" caption="On his first day, John Palmieri, of the South Inlet section of Atlantic City, talks about the…

Read More

Garden Pier demolition erased one of Atlantic City’s eyesores – but nine from last year’s list still remain

Posted: Wednesday, May 18, 2011 By MICHAEL CLARK Staff Writer Press of Atlantic City   ATLANTIC CITY - A year has passed since Mayor Lorenzo Langford asked the public to pinpoint the city's 10 worst eyesores. Physical changes at most of the sites are hard to spot or nonexistent, but there has been plenty of action behind the scenes. [caption…

Read More