\n
However, six of the seven casinos that were open prior to Hard Rock and Ocean Resort are reporting lower GGR in 2018. Only Golden Nugget is in the black.<\/p>\n<\/div>\n
Borgata is down 6.2 percent, Bally\u2019s 9.7 percent, Caesars 14.6 percent, Harrah\u2019s 7.4 percent, Resorts 5.4 percent, and Tropicana 2.4 percent.<\/p>\n
For Atlantic City to support nine casinos, gaming analysts say the town needs to grow tourism. Former Bally’s executive Wayne Schaffel said recently if it doesn’t, “Somebody’s not going to make it.”<\/p>\n
CRDA Criticism <\/b><\/h2>\n
The CRDA hopes its marketing strategy will bring new and former visitors back to Atlantic City. For the agency’s critics, that’s presumably a welcomed mission.<\/p>\n
The CRDA says on its website that it “uses casino reinvestments as a catalyst for meaningful, positive improvement in the lives of New Jersey residents statewide. In doing so, the CRDA has dramatically and positively altered Atlantic City’s residential, commercial, cultural, and social landscape, while financially supporting quality-of-life improvement efforts.”<\/p>\n
Some have panned the CRDA for its use of funds. Along with its continuing subsidies provided to the scandal-ridden Miss America<\/a>, a state audit concluded this fall that the authority “did not always ensure an effective and efficient use of its funds.”<\/strong><\/span><\/p>\nThe CRDA is primarily funded by a $5 per occupied hotel room night charge paid by Atlantic City guests. The agency also receives $3 per day for every parked car in town.<\/p>\n","protected":false},"excerpt":{"rendered":"
The New Jersey Casino Reinvestment Development Authority (CRDA) has approved a 10 percent budget increase for 2019, and the state agency says its primary focus is on better marketing Atlantic City. CRDA Executive Director Matthew Doherty said the budget hike was needed to fund higher medical benefit costs and increased wages. “Keeping the CRDA on […]<\/p>\n","protected":false},"author":25,"featured_media":93147,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\n
New Jersey Casino Reinvestment Development Authority Approves Budget<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n