Revel Casino Closing: Can Atlantic City Survive?

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Aug. 13 (Bloomberg) –- Director of the Center for Gaming Research at UNLV David Schwartz discusses Revel Casino’s decision to close down and whether other Atlantic City casinos will shutter. He speaks on “Street Smart.” (Source: Bloomberg)

Joining the right now, david schwartz.

If you look at these other properties, they are problems compounded by the shrinking market.

Is there any reason for people to go to atlantic city when they can gamble?

Closer to home?

That is true and is part of the reason for the decline.

For years it was the closest place where people can play slot machines.

Now they can play them closer to home.

The key is you need a facility that has a lot of other attractions and you have to build those attractions to get the pull tube i those attractions.

Where you are, vegas has obviously done that really well.

When was the last time you were in atlantic city?

Just curious.

A few months ago.

Other than most.

But you do watch this place closely.

And i was born there, too.

I did not know that you are buoyant -- born there.

You have a special connection with atlantic city.

I am sure you want to see it survive.

You have caesars trying to build a big convention center.

Can atlantic city bring convention business?

I think so.

Historically going back to the 19th century people were coming to las vegas for conventions.

This is not something that you can do everywhere.

Small group travel has been booming for the last couple of years and i think if they do it on the right scale, they can be successful.

You are optimistic, but it is your hometown.

Thank you, david.

This text has been automatically generated. It may not be 100% accurate.

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