Golden Nugget casino mogul Tilman Fertitta expressed his honest views on Atlantic City’s casino network on Monday. During a 1-1 interview with press at the Marina District casino, the 62-year-old billionaire put it blankly that Atlantic City “is not a nine-casino market, and I don’t understand why nobody realizes that,”
On top of the closure of 5 Atlantic City casinos within a 2-year period, followed by the prolific casino chain Hard Rock arriving in 2018; Fertitta claims changes to the city’s casino landscape has had an adverse effect on everyone in the gambling community.
“You could say the market is going up and that we’ve added thousands of jobs, but now every other casino has had to lay off jobs, so I don’t even know how big the net gain is,” he added. “But now, none of the casinos have the cash flow that they did.”
Although many operators have reasons to be worried, Fertitta doesn’t appear to be too concerned for his own casino empire. The Golden Nugget and its associated partners raked in more than $108.5 million in online gaming revenue alone in August.
Like that isn’t enough to keep business ticking over, the city’s governor Phil Murphy passed a bill that now allows the casino to accept wagers for NBA games after sports betting was legalized in New Jersey last year.
Ironically, Fertitta owns and operates the famous Houston Rockets, but has Golden Nugget has been strictly prohibited from offering wagers on any games the Rockets are scheduled to play in.
Fertitta also released a new book recently, entitled “Shut Up & Listen!” which gives an in-depth overview of his early life and how he motivated his own actions to succeed. Book signings will take place at the Golden Nugget showroom this Saturday from 3pm.
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