By Joseph Corbo, Jr.

Here are steps we can take today to deal with the short-term downturn and pave the way for long-term advances

Things appear bleak in Atlantic City, as ample negative information reminds us. The recession will eventually subside—when and how robustly is anyone’s guess—but regional competition is likely to strengthen, with new Pennsylvania slot parlors coming online, and Pennsylvania and Delaware actively discussing the introduction of table games to their racinos.

Our industry, however, chooses to be defined by positive assets, not negative news. And we have plenty of positive assets.

Capital investment has always distinguished the gaming jurisdiction in New Jersey. Our gaming model promotes capital investment, which in turn allows for a destination-style resort with gaming and non-gaming offerings that can attract overnight guests.

With the credit markets unlikely to loosen in the immediate future, we cannot rely upon new attractions to add to Atlantic City’s arsenal, except the Revel project. So what can we do now to deal with the short-term circumstances and pave the way for longer-term advancements once the economy rebounds?

First, capital investment remains Atlantic City’s long-term best weapon. Policies need to be implemented that encourage investment, and regional traffic infrastructure must be planned so we’re ready to go when capital is available. Atlantic City must distinguish itself in a manner that attracts customers along the entire Eastern seaboard. A public- sector countercyclical investment policy is critical to help spur the economy and prepare our traffic infrastructure for the development that will come.

Another way to attract capital investment and keep previous investment viable is to help drive profits. When existing operators see returns on their investments, other companies will be driven to invest in their own properties—a cycle that’s necessary for a thriving tourist destination. Profits at New Jersey casinos can be enhanced by reducing unnecessary government bureaucracy and streamlining the regulatory system to reduce businesses’ cost structure, boost profitability and drive future investment.

Another aspect of our plan is the development of a $20 million annual marketing fund to promote the region. Over the past six years—the current economic doldrums notwithstanding—Atlantic City has made great strides. Many non-gaming attractions impress new visitors every day. They then turn into repeat visitors and word-of-mouth marketers. But instead of relying solely on word-of-mouth and “free press,” a systematic marketing plan akin to the successful “What Happens in Vegas” ad campaign would undoubtedly provide a boost to revenues. Many people within easy reach of our market remain unaware of the broad entertainment opportunities here. We need to let them know. Now is an opportune time to do so, with many people staying closer to home and such a large corporate and leisure population who can drive here on one tank of gas.

Speaking of image, it’s critical that we put our best foot forward with a clean, well-maintained and safe environment, particularly where our visitors enter the city and where they congregate. The Boardwalk needs to reclaim the luster of past years. Atlantic and Pacific avenues need to present a more welcoming and beautified look. Guests have many choices for their tourist dollars, and we need to put AC at the top of that list.

These are just a few ideas to help Atlantic City improve despite the difficult current environment, and prepare itself for even bigger opportunities once the economy improves. We’re all stakeholders in the casino industry’s success—from the state and the city to casino employees, to the unions that represent them, to the construction trades and vendors. At this critical time, it’s incumbent upon all of us to join in this effort.

Joseph A. Corbo, Jr. is president of the Casino Association of New Jersey, and general counsel of the Borgata Hotel Casino & Spa.