Atlantic City is once again entering a renaissance. Casino investments reflect over 10 Billion dollars on new Atlantic City Real Estate investments to be built in Atlantic City. This will be the biggest investment since 1978 when Casino Gambling debuted in Atlantic City.. Between now and 2012 the face of Atlantic City will transform. The plan is for AC to rival Las Vegas as a destination gambling resort.
• Revel Entertainment Group unveiled drawings of its new $2 billion casino-resort, to be called simply "Revel." Due to open in the second half of 2010, at 710 feet, it will be the tallest building in Atlantic City. Revel is partnering with investment firm Morgan Stanley on the project.
• Pinnacle Entertainment will build another mega casino on the site of the former Sands Hotel Casino, which will open in late 2011 or early 2012.
• A $5 billion casino resort planned by MGM Mirage in the Marina district next to the Borgata, will be the largest project Atlantic City has ever seen when the first slots start spinning in 2012.
What this means to the real estate business at the Shore is the offering of thousands of job opportunities during construction and then in the new casinos. These along with the numerous supporting businesses guarantee a healthy employment and Atlantic City real estate environment for the next decade.
Sources:
Yahoo news
Press of Atlantic City.Com
Press of Atlantic City.Com
Hotel Experts, Atlantic City, NJ
Msnbc
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