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New Jersey casino hotel business planning new management

Resorts Casino Hotel, the first casino hotel in Atlantic City, New Jersey, is heading for new management. The casino has been undergoing changes since it was sold in 2010. Now, as part of their continuing business planning, Mohegan Tribal Gaming Authority will be taking over management of the company.

Casinos did well and were profitable in New Jersey for decades. But, that began to change when Connecticut and Pennsylvania allowed casino gambling in their states and when the recession began. Since that time, casinos in Atlantic City like Resorts aren't seeing the profits they used to see. When the new owners took over in 2010, the first thing they did was revamp the casino in a roaring 20's theme after a popular HBO series. Recently, they partnered with Jimmy Buffet to create a Margaritaville-branded entertainment complex in part of the casino.

Mohegan Tribal Gaming Authority is already familiar with this partnership since The Mohegan Sun's premiere casino in Connecticut already has a similar restaurant. Mohegan is a Connecticut based firm that currently owns casinos in Connecticut and Pennsylvania. The owners of Resorts are hoping that bringing in Mohegan to take over the operating of Resorts will further revive the casino.

Shrewd and strategic business planning is always a good idea, but it becomes vital in a recession. Taking the time to think ahead and seek out professional advice when necessary is critical to any good business plan. Having big dreams for a business is good, but without exploring the business and legal intricacies of those dreams, they don't have the best chance possible to succeed. In a time when businesses are failing, having the best chance at success is paramount.

Source: Boston.com, "Tribal company to manage NJ's Resorts casino," Geoff Mulvihill, Aug. 7, 2012

1 Comment

I think changing the casino theme won’t work alone they also need to take more important steps. They should give some incentives to their regular gamblers as well as start referral scheme for new members so they increase their profit margin.

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