Illinois

The façade will be rosy again: could the future of Barry’s casino be so? | WGN Radio 720

Atlantic City, NJ (AP) — Perhaps the mismatched replacement windows on the glass façade, the blue spots that stood out in the rest of the rosy glass, the more uneven performance of Barry’s casino in Atlantic City in recent years. There is nothing to symbolize.

Fixing this was one of the first things Phil Juliano, executive vice president of a Rhode Island-based company that bought the casino a year ago, started.

In the last few months, the out-of-place windows have been replaced and the façade has become evenly rosy.

Bally’s Corp. executives want the casino’s predictions to be rosy. The company’s chairman, Kim Soo-hyun, evaluated the performance of the first year under the new owner.

“I would say the jury is out,” Kim told The Associated Press. “We always knew that Atlantic City was a challenge, so we organized the deal to have a lot of flexibility. It’s a city that hasn’t reinvested itself the way it needs to be. “

Formerly known as Twin River Worldwide Holdings, Barry’s last year 11 as part of an ambitious acquisition of casino, media and tech companies aimed at bringing together a nationwide gambling, broadcast and sports betting powerhouse. I bought Atlantic City Casino on the 18th of March.

Having paid Caesars Entertainment $ 25 million, New Jersey gambling regulators have promised to spend another $ 100 million in four to five years, including a badly needed hotel room remodeling.

“We will be the most aggressive marketing company in Atlantic City and prove it,” Giuliano said. “We also recognize that the quality of your facility must be consistent with its aggressive marketing.”

Work on the new hotel room, new lobby and bar is already underway and a new cap room will open early next month. The casino has opened five new restaurants, the FanDuel Sportsbook, restructured the casino floor and introduced new slot machines.

Apart from physical improvements, this purchase gives Barry access to New Jersey’s thriving internet gambling market and its country’s leading sports betting market.

Barry’s rank is the last of the nine Atlantic City casinos so far this year in terms of gambling revenue. In the first 10 months of 2021, Bally’s earned $ 120 million, up from the $ 83 million it earned in the same period last year.

In contrast, market-leading Borgata earned $ 914 million over the same period.

Jane Boknevic, director of the Lloyd Levenson Institute at Stockton University, who studies the Atlantic City casino industry, said Barry’s Corporation “has lost some of its brilliance in recent years to rejuvenate once-prosperous real estate. We have taken a big step towards. “

“It may still be a while before the property is ready to go live, but they are certainly moving in the right direction because we can expect to gain momentum as the planned improvement projects are further completed. I have, “she said.

In an interview with AP, customers provided various reviews of Barry’s performance over the past year. Some praise the new restaurant and popular summer beach bar, while others say there are still many requests for hotel rooms.

“I think Barry’s is doing the right thing overall,” said Jack Uniglicht of Weinland. “Their new cap room has a great atmosphere, and if they plan to remodel the rest of the casino with the same design, it will be comparable to the others in AC. The room is rebuilt. I think that if the rest of the resort is remodeled, it will be in a very competitive position. “

Weinland’s Wyatt Ballinger had another experience last year, calling the property “disgusting and empty.”

“I checked in a room that still had cigarettes in the ashtray, spilled food in the fridge and rotted it, then switched to another room, put on my shoes while walking and lay down on the bed. I found an employee who is there, “he said.

However, the most commonly expressed complaint was the end of last October’s player loyalty benefits that arose under previous ownership in support of Barry’s own brand loyalty program. According to the company, a switch was needed to separate it from Caesars Entertainment.

At a minimum, the property is worth the boardwalk real estate, said Kim, chairman of the board of directors of Barry’s. But he is optimistic that the casino proves to be a profitable investment.

“We are spending money to raise it to the level we deserve it, and I think we will get the money back,” he said.

Barry’s owns 14 casinos in Colorado, Missouri, Missouri, Illinois, Indiana, Louisiana, Rhode Island, New Jersey and Nevada, and recently submitted two bids to develop a casino in Chicago.

“There was a time when I bought eight of the last ten casinos sold in the United States,” Kim said. “When others are afraid, it’s often a good time to do business.”

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Follow Wayne Parry on Twitter at https://twitter.com/WayneParry AC.



The façade will be rosy again: could the future of Barry’s casino be so? | WGN Radio 720

Source link The façade will be rosy again: could the future of Barry’s casino be so? | WGN Radio 720

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