Does Atlantic City go new ways?
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In Atlantic City, the groundbreaking ceremony for the construction of a huge water park, which is supposed to attract more families. The gambling metropolis in the US state of New Jersey is taking new ground. The local gambling industry has been in free fall for some time. Numerous casinos already had to close their gates. The project around the water park complex could now open up new shores.
Investments of $ 95 million
The prohibition in the United States at the beginning of the 20th century heralded the Ascent from Atlantic City a. Both alcohol and gambling were banned in large parts of the country. However, the metropolis in the US state of New Jersey opposed the restrictive gait and pursued a liberal approach. As a result, casinos and entertainment facilities sprouted from the ground, which gave the city an enormous influx of tourists and let them climb into gaming metropolis.
From the golden years, however, the metropolis can only dream. The gaming industry is on the descending branch. Many establishments had to delete the sails. That is Gambling of the driving economic engine in the city.
Tries with the planned water park Atlantic City Well, to open up new shores. The initiator is that Real estate mogul Bart Blatstein, who wants to provide the “Showboat Atlantic City Hotel” with an indoor and outdoor water park complex. According to matching media reports, he was ready to invest $ 95 million. Gambling shouldn’t play a role.
Gambling license As is rumored by industry media, Blatstein indicated that he has a lucky license for the “Showboat Atlantic City Hotel”. The real estate mogul had taken over the property not too long ago by Caeser’s entertainment. Despite the potential way to implement gambling offers, Blatstein is pursuing a new approach. He promotes a family -oriented entertainment goal that is supposed to lure visitor to the resort throughout the year.
Industry insiders had recently announced that in the “Showboat Atlantic City Hotel” despite a possible license do not be gambling may. The reason is a restriction that Caesar’s entertainment as a previous owner in 2014. This prevents the existing building complex from accommodating a casino. The gaming group has initiated these restrictions to reduce competition in its own ranks. At the time, Caesars operated three other casinos in Atlantic City.
Better future prospects?
Bart Blatstein invests almost $ 100 million in the showboat. The entrepreneur is convinced that Atlantic City is facing better days. Accordingly, he wants Part of the future design be the city and have set itself the goal of creating the first real year-old family resort in Atlantic City.
The “Lucky Snake Arcade” heralded the starting shot of the project. For the Occurrence hall without gambling offers is said to have spent almost seven million US dollars. The goal: the largest arcade in the Bundestaes Bauen. Together with a sports bar, the “Lucky Snake Arcade” was opened in the showboat in May 2021. The planned “Island Waterpark” is to be built right next to the arcade.
Luxurious resort The water park will offer the usual attractions that visit visitors to such a amusement park. Among other things, there should be a number of slides and pools. A large water channel with currents is also being planned. In addition, the luxurious resort should offer lounge areas with various dishes and drinks as well as party rooms.
Blatstein receives support
According to US media reports, the family-friendly ambitions of Blatstein are said to have called some supporters on the scene-such as the “New Jersey Reinvestment Development Authority” (CRDA). In December 2020, the administrative institution classified the water park project as an “entertainment retail district”. As such, it receives one in the first two decades Discount on the wealth tax -around $ 2.5 million a year.
die Tax relief go back to Stephen Sweeney. The Senate President of New Jersey had recently been able to successfully adopt a law that provides for a reduction in property tax for entertainment institutions in the US state. The new legal framework also affects the remaining seven casinos in Atlantic Citythat are to be preserved from the knockout by the taxes. According to official information, four institutions would no longer survive the year 2023 without the legal adjustment.
Supporter A great supporter of the water park is also Marty Small Sr. The Mayor of Atlantic City is pleased about the creation of new entertainment offers that do not only focus on gambling. Since he has known Bart Blatstein for a long time, he is expecting a gigantic project.