NEW YORK'S GAMBLE COULD COST ATLANTIC CITY

October 27, 2001 11:20 PM
by

share

Atlantic City casinos could be facing the biggest threat to its gaming market with New York State's decision to expand gambling into the Catskills.

"This is a wake-up call," said Alfred J. Luciani, president of the Sands Hotel & Casino, which draws 40 percent of its business from New York City and Northern New Jersey. "There's no question there will be formidable opposition."

Donald Trump, who owns three Atlantic City casinos, was even firmer in his concern over possible lost revenues.

"This is certainly not positive for Atlantic City," Trump said. "New Jersey will rally have to help the casino operators, probably with a reduction of taxes."