Atlantic City's future looking bright after week of positive news - pressofAtlanticCity.com: Atlantic City | Pleasantville | Brigantine
Maybe we can learn something from Atlantic City's efforts and success in implementing a long term plan. Please see excerpts from the article below:
While casino win figures released Friday were not positive, Atlantic City’s overall economy is on the brink of a turnaround likely to result in an investment stampede, predicted Israel Posner, executive director of Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at the Richard Stockton College of New Jersey.
“It’s the idea that we’ve been discussing for many years, that Atlantic City is transforming into a full-scale entertainment resort,” Posner said. “That transformation, that vision, is emerging in full bloom. You can see it this summer. You can feel the energy all over the city.
Posner also said that investors who have been shunning the city for the past few years now will be tempted to take a second look. He cautioned that they could lose out if they wait too long.
“I think that what could happen very quickly is that investors will be tripping over each other,” he said. “If you’re late, the opportunities are not there. The early participants that are drawn by the excitement have the most to gain because they are coming in during the threshold of the transformation. If you wait, the risk will be lower, but the reward will be lower, too.”
The Atlantic City Tourism District Master Plan, approved by the CRDA Board Feb. 1, advised that Atlantic City diversify offerings and perhaps partner with other towns on artistic, cultural and other nongaming initiatives. The marketing strategies behind the events themselves matter, too, particularly with social media, the 300-page document stated.
“Everyone is excited and understands we’re in it together, and need to work as a team,” Palmieri said.“That’s a positive thing. And from what I understand, that’s a new thing for this city.”