The Borgata's Big Layoffs
Just yesterday I wrote about the troubles facing the Las Vegas Sands and now here comes news about another big casino company, this one in Atlantic City. Businessweek reports that the Borgata Hotel Casino and Spa, the most lavish and successful casino resort in New Jersey's gambling oasis, has just laid off 400 workers due to the worsening economy. The cuts represent five percent of the Borgata's work force, leaving around 7,000 employees. Spokesman Rob Stillwell says these were the first layoffs the Borgata had made. The company expanded recently, opening The Water Club i a $400 million, 800-room hotel this summer.
Times are tough for casino workers in Atlantic City. The four Atlantic City casinos operated by Harrah's Entertainment Inc. have also laid off employees in recent months Over the past year revenues have been slowly falling and September saw the worst-ever monthly drop in revenues, a decline of 15.1 percent. A bunch of ambitious building projects are slated for the area but some may not make it to fruition if the overall economic picture doesn't improve.
Reader Comments (Page 1 of 1)
irasilver Nov 9th 2008 9:23PM
More layoffs announced every day. Always, always, always be prepared to be laid off. They say that most people are two paychecks away from living on the street. I would never want to live with that kind of stress, especially in the challenging economy we live in today. I discovered one of the best books you'll ever find about finance, "How to Become Filthy Rich on Your Current Income" at www.how-to-become-rich.com. If people read books like this one we would not have the current situation we do. CASH! Piles of cold hard cash is the best way to weather the current economic situation.
ACGAMBLER Nov 10th 2008 3:41AM
The Borgata is the second nicest casino in A.C. I play there in the Bach pit all the time. Their problem is that they are stingy as hell when it comes to comps. You only get one night a week in room comps, compared with Harrah's three days. Most of their dealers (especially blackjack) have nasty attitudes. I know plenty of high or mid-range players who have said they simply just don't tip as much as they would because of dealers' demeanor. Why are you gonna sit there for five hours with a dealer who barely speaks, and gets excited when the make 21. I've been playing there for a few years, and I absolutely hate it now. I've gone back to Harrah's. At least I can stay as long as I want. It's no wonder why casino patrons are staying away from the Borgata. Low comps and nasty workers are not a good combination.