Is Gaming a Draw for Timeshare Owners?

Some in Northern New Jersey think so and if a ballot question is approved by voters on November 3, there will be two new casinos in the area. Voters will be asked whether to amend the state constitution to repeal a provision that limits casinos only in Atlantic City. The approval could bode well for New Jersey's timeshare industry, which has suffered from being clustered in struggling Atlantic City. Atlantic City has lost half of its casino revenue to competitors in neighboring states. Some of the new casino revenues may be used to aid Atlantic City's floundering economy and casino business.   

The timeshare developments, possibly to be built in the Meadowlands sports complex where the New York Jets and Giants play, and in Jersey City, will offer more affordable lodgings with easy access to New York City and its attractions.

Pros and Cons

A recent article in The Real Deal, "Timeshare Trials and Tribulations" says those in favor of the referendum claim the revenue-sharing would help Atlantic City casinos, bring more visitors to a rejuvenated resort destination and make its timeshare resorts more attractive to potential owners and guests.

New Jersey attorney, Vincas Vyzas, says local timeshares now promote their proximity to the seashore and gambling, but many people want other activities. Perhaps better to promote would be the proximity of the new timeshare resorts to New York and Philadelphia for easy access to alternative activities, like day trips to museums, parks, concerts and theater. 

New Jersey's Governor Chris Christie, who is against the referendum, says, "Atlantic City is headed for a disaster, and north Jersey gaming is headed for defeat."

Another opposed to the diversion of funds from the new casinos to aid Atlantic City, is Andrew Mulvihill, chief executive officer of Crystal Springs Resort Real Estate in Vernon, New Jersey. Quoted in the Real Deal article he said, "I don’t believe the proliferation of gaming into Northern New Jersey will have any impact on increasing the number of timesharing offerings in New Jersey. The main players are promoting locations next to Manhattan in very urban settings that are more industrial than commercial."

Las Vegas Positive Example

For an example of the positive effects of gaming on the timeshare industry, just look at Las Vegas with its numerous timeshares. Along with the attraction of the casinos, the popularity is due in part to the perfect accommodations timeshares offer for Las Vegas vacationing. Families and friends can vacation together in comfort and still have privacy. Timeshares have the winning combination of home-like accommodations along with resort-style amenities. Activities to satisfy both adults and kids are onsite. All are located in close proximity to the casinos, and a few like Westgate even have casinos onsite.
0 Responses

Post a Comment