Atlantic City Sign World

[copythat]

As many of you already know. Atlantic City is suffering from casinos closing. Anyone here going, should check availability of hotels. I believe there has been four that permanently closed down. Check before you come to verify. Also trying to find out if it is still on...


I hope it's on!





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[CES020]

Sure, it's still on. Really, really sad to watch what's happening to Atlantic City. I'm hoping there's a number of greta investors sitting on the sidelines waiting for it to hit bottom so they can scoop up great properties for pennies on the dollars and get those places open again, employing people. They've lost about 30,000 jobs in the last month alone, or something crazy like that. I can't imagine what the place will look like with 30,000 people jobless. It has a pretty rough areas already, now drop in 30,000 people with no paychecks into it and I would imagine it's going to be a rough place.

 

[petepaz]

going to the show on Friday. going down Thursday night and staying at harrah's so i don't have to rush around friday. got the room on booking.com for $63 including tax and what ever other things they threw in.
either way A/C is going down hill. i used to go down every year for a few days with the wife but it's not worth the drive any more. we just go to the sands in Bethlehem, pa. 20 minutes away and we save by not having to get a room.

 

[Typestries]

This is a timely discussion. Our local economy will suffer tremendously from this. From my town, all the way to cape may north to ny to the purveyors, and west to philly. Not only direct casino staff but staff at support companies. One of my friends has already cut two delivery drivers as a result of the business he has lost.

What's really telling: we just advertised for a new office coordinator. We received over 250 resumes. Never ever have we received that many. Better than 80% of them are ex casino industry staff. There are a LOT of people looking for work. Wow.

We'll be at the show but not as an exhibitor this year. Hope to see some of you all there!

 

[CES020]

Looks like that massively scaled by the floor space on the show. The previous layout showed a place that they appeared to be going to have a wrap contest area. That's all gone in the new layout. It was about 180 booths, with about 30% of them showing occupied, now it's about 70 booths and showing everything but a couple occupied.

What a real shame to see people not supporting this show. It's the United States Sign Council. They do a lot for sign people, and on our behalf.

I hope this is the bottom for the show and it's able to rebound and rebuild itself stronger next year.

 

[copythat]

You are correct!

The Revel cost $2.4 billion to build the casino and hotel a couple of years ago, but the property was just sold at a bankruptcy auction for a mere $110 million.

 

[Gino]

Yeah, go figure. There were laws against the rackets years ago, now they make a racket out of building things and selling them for pennies on the dollar.

I was in that place a few times. In fact, they comped us twice to stay over and gave us all kinds of comp towards food and drinks in addition. What a heap of junk, including the games and machines. The high rollers room was a joke. There were a few big machines, but mostly $5 machines. They were never set up to be successful. It was built-in failure from the git-go.

 

[TimToad]

It was built-in failure from the git-go.

As is the whole idea of getting something for nothing.

The proliferation of widespread gambling, a steady decline in family wages over the last 40 years, a 180 degree flip flop on the tax burden placed on corporations versus personal and small business, the decimation of organized labor and the list goes on and on over what is the cause of a collapse like A/C. You can't build something on a false premise to begin with and think it will be sustainable for the long haul.

Then we all come on here and scratch our heads over why we can't command a higher price for the types of signs we increasingly or regularly do everyday.

 

[Typestries]

We literally have people knocking at our door daily looking for work. The unemployment related to the casinos around here is that pervasive. Highly skilled intelligent folks too.

Now to take the AC casino collapse and harness that to our advantage in terms of new shop space at bargain prices. The commercial RE decline in atlantic county has already spread outside AC.