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Golden Nugget Atlantic City General Manager Tom Pohlman discusses how the recession impacted the N.J. town.
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And we are going all -- on gambling joining me now Tom Coleman general manager of the Golden Nugget Atlantic City come up at seven -- Let's see we're telling me that you guys have spent a 150 million dollars renovating this property and of course -- -- experts say it's all about reinvest.
What do you make of that.
-- it is that without reinvestment the property that we inherited when when we came into the Atlantic City market had been neglected for some time.
Tillman for cheat it would waiters corporation name men committed to spend a 150 billion dollars and her in the property around and then when you just look at the video that that you're showing in the.
You probably have my shoulder here there's that many that perhaps table behind me the right -- it's beautiful I think that people really like get a respond to it.
But when you when you talk about reinvestment.
Earlier in the show we mentioned that we that a twelve and a half percent drop in revenues -- -- better than that.
Right I that's pretty dramatic.
Are you still in recession here in Atlantic City that we are in recession but twelve and a half percent in February it's important to realize.
Number one last year was leap -- -- we had one extra day we also had a major snowstorm that hit the East Coast.
That impact of the Friday and Saturday which in Atlantic City Fridays Saturdays we're gonna get the lion's share the money so.
Yes the town of -- twelve and a half percent I think through February we're showing that we're down enough warning -- four point 8%.
But there is a recession the problem in Atlantic City is we're dealing with the declining market.
And we're all trying to -- There's a lot of competition here that people talk about you guys.
He was so many people now so tough to get people in the front door what is the city need to do it really encourage people to come here -- I didn't tell you.
Vegas has nothing on you the physical plant here there's there's ocean out there it's gorgeous and should be able to make it make it really come.
Most importantly I think commercial air service we've got -- international airport.
Fifteen minute drive from Atlantic City yet customers that choose to fly and have to -- in the Philly and drive and hours of commercial air service is important.
Competition would regional markets Pennsylvania we look at Pennsylvania.
There's always going to be regional competition but Atlantic City -- a resort destination you mentioned beaches we've got nightlife we've got entertainment the Pennsylvania can't put in.
We've got spots we've got restaurants that do better just amazing so.
You have a lot to offer that is for sure but we just had a big two billion dollar property announced they're gonna file Chapter Eleven -- -- the -- I was getting people would read about what happened there it -- -- they have trouble from the get go you want the other hand you have to have gone off like a bottle rocket but the rebels have real trouble that.
Yet but I can talk about what we've done.
-- we focused on gaming and have always continue to focus on gaming.
So -- bed at eight non gaming component to our business which was lacking before so we added a six and a half million dollar -- We we put in for great Landry's Restaurants.
We touched every square into this property and turned it into a brand new facility.
And again we're focusing on on that yeah.
And I think that you know you could say if you're familiar with the -- story they focus more on the Entertainment Tonight live.
I wanna talk to little bit about online gaining because this -- a big issue a lot of people talking about Chris Christie right here third state in the nation to -- to embrace that.
And they believe that they're gonna get 85% jump in revenues because events are you gonna have online gaming here -- means here this test.
Golden Nugget.
Middle of last year it already implemented the gaming platform.
We currently have Golden Nugget -- dot com where customers can go on and play poker for free.
You can participate -- ornaments win gift cards for our Landry's Restaurants you can -- hotel stays.
So we are set up so once we are ready to go with live online gaming we have to flip a switch and we're ready to go so -- wondered if you properties.
In the gaming industry let alone in the Atlantic City market where where where ready to go with online gaming wants were -- ready to go.
Tom thanks for hosting us really appreciate it had a great time here today -- -- been fantastic and the people here -- just been terrific thank you leveraged yet.
