(Save the date: RealShare New Jersey comes to the Hyatt Regency, New Brunswick, NJ, September 19.)
ATLANTIC CITY–Resorts Casino Hotel is looking to build a new restaurant, bar and surf shop on the footprint of the Steeplechase Pier, which has been defunct since a fire in 1988.
Resorts Casino has not publicly announced its plans. But it has reportedly filed an application with the state Department of Environmental Protection, seeking permission to build a $6 million Margaritaville Landshark Bar & Grill, according to the Press of Atlantic City.
“The activities on the pier are intended to help reverse the decline in visitation to Atlantic City in general and Resorts in particular,” the resort says in its application.
Gov. Chris Christie has focused on the revitalization of Atlantic City as the lynchpin in his program to rebuild the state’s convention and tourism industry. Christie championed the completion of the previously stalled Revel casino & resort, which opened in May. He also lent his backing to a media campaign aimed at repositioning Atlantic City as a resort community rather than just a place to gamble.
So far, Revel has not proved to be the casino revenue-generating force it was hoped to be. Overall, the take for Atlantic City casinos was down 9.5 percent from the year before in May, the first month Revel was open. Revel’s casino win was nearly $14 million in May, but that was less than anticipated. Meanwhile, Resorts’ take was down 24 % in the wake of the Revel opening month.
Also, Trump Plaza was down 27%, Bally’s Atlantic City was down 23% and Trump Taj Mahal was down 22%.
Tropicana, which saw its win decrease by only 2.1% in May compared to 2011. Tropicana recently announced it will undertake a $25 million renovation over several years.
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