\nMarch 28 (Bloomberg) \u2014 Atlantic City, New Jersey, has wagered on casinos for its fortunes for decades. Don Guardian, the first Republican mayor elected in almost 30 years, wants to place a side bet.<\/p>\n
\tGuardian had never held political office before his November victory over Democratic incumbent Lorenzo Langford, whose leadership Governor Chris Christie criticized during Hurricane Sandy in 2012. For 20 years, Guardian, 60, had directed the city\u2019s special-improvement district, which promotes business in the tourism area.<\/p>\n
\tGuardian, who once worked at the former Claridge Casino Hotel in the 1990s, doesn\u2019t play slots or table games. He said he wants to attract other entertainment options to the boardwalk town of about 39,500 residents. Casinos account for about 70 percent of the city\u2019s tax base, according to Moody\u2019s Investors Service, which in November cut Atlantic City to Baa2, two levels above junk. Tax appeals and falling casino revenue will \u201cfurther strain the city\u2019s weak financial position,\u201d Moody\u2019s said.<\/p>\n
\tThe following is condensed from a phone interview:<\/p>\n
\tQ: You\u2019re in talks with the city\u2019s 11 casinos to get pledges that they won\u2019t appeal tax bills this year and next. How is that going?<\/p>\n
\tA: We have three properties that we have not yet concluded an agreement with. Of the three, two are very, very close. And on Borgata, I really can\u2019t discuss other than to say that we have met on several occasions and they have been good discussions. But, all of the other properties, they have agreed they would not file a tax appeal.<\/p>\n
\tQ: Last year, Christie predicted a boom from Internet gambling, which has yet to materialize. What is the impact of online gaming?<\/p>\n
\tA: Were the original estimates too high? It would appear to be. On the optimistic side, we\u2019re thinking that people who may have gone to New York or to Pennsylvania or to Delaware, now they\u2019re actually gambling in an Atlantic City property. As they earn rewards, those rewards get turned to actual visits to Atlantic City in order to enjoy the comps, either the room or entertainment or meals. On the other side, the pessimists are saying, well, that just keeps people away from Atlantic City to begin with. I say the jury\u2019s out.<\/p>\n
\tQ: What is your expectation for the performance of the city\u2019s casinos?<\/p>\n
\tA: If you ask me for one word for the gaming industry in Atlantic City, it\u2019s transition. They\u2019re all trying to figure out what the market is. Is the market each casino having a niche? Or is the market expanding to a total destination? Could one or two close? It\u2019s probable.<\/p>\n
\tQ: You have said you want to expand the city\u2019s economy beyond gambling. What do you want to attract?<\/p>\n
\tA: We got lazy during the casino era because the money came too easy. We stopped doing what Atlantic City was known for, and that is providing something you didn\u2019t have in your hometown. It was a city built to escape from other cities, and so that\u2019s where we are now. What services, what venues, what special events can we bring in that\u2019s going to attract people? That\u2019s everything from triathlons to bringing back Miss America. The easiest fix right now is to book more conventions mid-week.<\/p>\n
\tQ: You were an Eagle Scout and worked as an executive for the Boy Scouts of America for about 15 years. You came out at age 25 and didn\u2019t tell anyone at the organization, which now bans adult leaders who are gay. What advice do you have for a gay boy scout who wants to become a leader?<\/p>\n
\tA: If you like scouting, shoot for the stars and become an Eagle Scout. You need to persevere. Whether it takes a decade, a century or a millennium, civil rights is always going to win. Prove to them what a good kid you are, that you\u2019re a leader. When you turn 18, it\u2019s going to be very hard for them to be abandoning all the best scouts that they have and not accepting them as leaders.<\/p>\n
No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"
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