New Jobs Coming To Atlantic City With Revel’s Opening [AUDIO]
Analysts predict the new mega-resort will cause shifts in the labor market in both New Jersey and around the nation.
The Atlantic City Housing Authority has an agreement with Revel that requires 20% or roughly 800 employees at Revel live in the resort, but entertainers, chefs and casino dealers are also relocating from Pennsylvania casinos and Las Vegas to work here.
"I think you are going to see the impact throughout the region and throughout the country. This is the largest project by far that has come online in the gaming industry for many years and probably for many years to come" said Israel Posner, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton College.
A report from the Casino Control Commission shows that in 2004, casino employment had peaked at 45,638 people. As of Jan. 1, 2011, that had dropped by 15,232 - to 30,406. By the beginning of this year, the work force had grown slightly to 32,490.
"This is really good news for Atlantic City and New Jersey. You are going to see a ripple effect from the opening of this new mega-resort" said Posner.
But he cautions that with the addition of a new, high-end property, it could force some smaller, struggling casinos to close.
"That's always a possibility with any new casino entering the market, but Revel's competition is not going to be other casinos, its going to be other resorts."
Revel opens for an eight-week preview April 2nd. The official grand opening is May 25th.
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