Is Atlantic City dead? New developments in the works say no

With all of the news of its casino closures, including the $2.4 billion Revel Casino Hotel, it may not come as a surprise that people may think Atlantic City has been left for dead. After all, revenue in the city that once monopolized gaming in the Northeast fell from nearly $6 billion in 2006 to $3 billion just last year.

And, a city that once prided itself on its casinos, has seen the number dwindle by three with a fourth casino on the brink of closing: The Showboat closed on Aug. 31, Revel closed Sept. 2, Trump Plaza on Sept. 16 and the Trump Taj Mahal may close on Nov. 13 if it can't lessen its debt and strike a new deal with unions.

However, a recent trip to the casino town shows that all may not be lost, as up to $1 billion in economic development is being invested into the town — investments that are either already completed or are expected to be completed within two years. (Check out the accompanying photo gallery to see the current developments.)

As gaming revenues dwindle, nongaming revenues continue to grow, increasing by more than $160 million in just the last two years. And it's smart that Atlantic County is looking forward with new eyes and a new vision: Focus on nongaming to drive more people into the city — people who may have been turned away because of its reputation as a gambling city.

"It's going to go from a gaming town with a little bit of family, to a family town with some gaming. Gaming will be a bonus, instead of a feature," said Anthony Catanoso, co-owner of the Steel Pier.

Catanoso's Steel Pier is just one of the amenities in Atlantic City that's being invested in, with plans of a $100 million multiphase renovation.

"They have all the components here to pull this all together," he said.

Here's a list of some of the developments going on in the town:

Bass Pro Shop

Harrah's Waterfront Conference Center

Tropicana Renovation

Public Market

Boraie mixed-use project

Procida rental units

Resorts Margaritaville and Landshark Bar & Grill

The Atlantic City Alliance recently launched four new campaigns featuring real Philadelphians to show that Atlantic City is not, in fact, dead.

Source: Philadelphia Business Journal