Investor Calls Atlantic City Paper ToxicNovember 14, 2013 – In The News
Patrick Madamba Jr. was featured in The Deal Pipeline article “Investor Calls Atlantic City Paper Toxic.” While the full text can be found in the November 14, 2013, issue of The Deal Pipeline, a synopsis is noted below.
As competition among casinos heats up in the Northeast and gaming revenue suffers, some are saying they won’t touch any paper that comes out of Atlantic City, whether it is issued by the city’s gaming halls or by the municipality itself.
More hopeful about the gaming industry’s future in Atlantic City is Patrick Madamba, who believes the city will adapt to the new competitive environment.
As Madamba sees it, Atlantic City has something other casinos in the Northeast don’t, a cluster of gaming properties, as well as a beach and boardwalk.
"Atlantic City's future can be bright," Madamba said. "The question is, can it continue to transform itself?"
"It's been fashionable for quite a long time to bash Atlantic City, but the city is still there, and it's full on weekends," Madamba concluded.