Recession hurts leisure & hospitality sector
Here’s an interesting read from NorthJersey.com, which reported that even “recession-proof” gaming industries like Atlantic City are feeling the heat. Why is the burden being offloaded on our taxpayers?
Everyone is hurting
To gauge the depth of New Jersey’s economic woes, start in Atlantic City, with craps dealer Dennis Duri.
The 22-year-old was among 400 workers laid off in November by the Borgata Hotel Casino & Spa, where he had worked for 2 1/2 years, earning about $700 a week.
“It was really cold,” he said of his termination, speaking at the Atlantic-Cape May County employment office in Pleasantville last week. “They called you at home and you go in. They basically blamed it on the economy. And they asked for your badge and told you to be on your way.”
His dismissal reflects not only the tough times facing the casino industry but those of the state’s leisure and hospitality sector, too, as the economy sours.
Long considered to be recession-proof, Atlantic City casinos posted the industry’s largest-ever monthly decline in gaming revenue in December, and its second consecutive year-over-year revenue drop after 26 straight years of growth. The casinos ended 2008 with 2,200 fewer employees — or 5 percent — than the year before.