Gomes Gaming looks to revive Atlantic City casino gambling with resorts purchase

Dennis Gomes is a former executive in the gaming industry, and his company, Gomes Gaming, is being called upon to not only turn around the fate of Resorts, but also help rebuild an industry that has been devastated by the economy in the past couple of years.

"Gomes' task will be a tall order," said Gaming Analyst Steve Schwartz. "Even for the big company's with the corporate names behind them, it has been difficult to pull AC out of its current troubles. Only time will tell if this purchase changes the future of the gaming industry in the Northeast."

Resorts was the first casino opened in Atlantic City and was an integral piece in the city becoming the second largest gaming destination in the US in the eighties and nineties. The millennium, however, has not been good for Atlantic City or Resorts. The casino was taken over by lenders back in 2009.

In addition to the economy, competition from neighboring states has become fierce and is hurting Atlantic City casinos. The strongest competition is currently coming from Pennsylvania, where lawmakers recently legalized table games, and slot revenue has been up at Pennsylvania casinos.

Maryland, New York, Massachusetts, Delaware, New Hampshire and Maine are all looking into possible gambling expansion. Delaware has already added sports betting and table games. New Jersey lawmakers are considering sports betting to help revitalize the gaming industry.