Kevin sees no Neanderthals in AC, just an Eden

“The Garden of Eden” by Lucas Cranach der Altere, a 16th century German depiction of Eden.

Not everyone agrees with me and my Neanderthal metaphor; and today’s news certainly demonstrates a degree of optimism that I don’t share. First, Dennis Gomes is making news daily in Atlantic City talking about all of the possibilities for Resorts, formerly International, and the city – he is very anxious to get started and hopes to get approval in December.  His former side kick in gaming and in law enforcement, Kevin DeSanctis, said today that work was going to begin again on the Revel next week – the Revel is a multi-billion dollar project that was halted in January of 2009, caught as it was in crunch from Pennsylvania competition and the economic crash.  Kevin is also going back to Wall Street for another billion dollars – he thinks the time is right.  He may be correct, there is certainly lots of movement on the Street with casino stocks and new gaming offerings.

Pinnacle did not announced a new project in AC, but it did say it was not going to give away its property in Atlantic City and was willing to wait for the right conditions and the right buyer to come along.  And the Atlantic City airport got court approval to move forward with its expansion and attempt at becoming a designated international airport.  Add to that list of hopefuls, the governor and his staff as they and restructure the gaming zone and you have a lot of people with experience in the area and the gaming industry willing to take a shot at making a go of Atlantic City.

I am not sure I agree with some of the more enthusiastic supporters, like Kevin, a billion dollars is a lot of money to spend on a cemetery, but as I said he understands that market far better than I do. Where I see a cemetery, he sees a wonderland or a garden of Eden, god bless him and good luck Kevin and the rest of those who are heavily leveraged in the town.

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