Resorts & Recreation Losing Revenue

There was an article published in yesterday’s Wall Street Journal that explained the economic struggles of the Resorts Atlantic City amid the fall in gambling revenue.  It stated that the company, which is the oldest casino in New Jersey, was in danger of closing down and was trying to find new, innovative ways to make the casino more profitable.  This is indicative of the fact that less people are investing their money in leisure and recreational activities in the recent economic recession, which is causing normally successful and profitable organizations, such as the Resorts Atlantic City, to fail and lose revenue.  The Resorts Atlantic City is merely one of many normally successful companies that are going under, and the recreation industry as a whole is suffering in the current economic climate.

            Globalization has had a large impact on the restaurant industry.  People want to spend less time on food preparation in present-day society, and as a result, they want quicker ways to get food.  Oftentimes, these quick-fix options are ethnic, as many people want a multitude of ethnic foods on-hand 24/7.  As a result, globalization has become more popular so that different ethnic cuisines are much more readily available to the local consumer.  This has taken away from the restaurant industry, however, because many microwavable or quick-fix meal options are easier and cheaper than dining out.  Therefore, globalization has most likely damaged the restaurant industry, seeing as the need to go to a restaurant to enjoy ethnic cuisine has disappeared.  Globalization has also affected the hotel industry, as many hotel companies that originated in the United States have been able to outsource to different countries and continents, allowing for a wider range of customers and a larger source of income.