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Ultimate Rollercoaster > Discussion Forums > Roller Coasters, Parks & Attractions > Casino Pier SOLD

Casino Pier SOLD

Posted: 1/10/02 at 8:41:09 PM
Views: 3284

Thanks to Rickyswm, or Diana for typing this out of her local newspaper and sending the article to me. This is what I have been alluding to the last couple of weeks. Thanks for the report Diana.

Now you have Moreys in South Jersey and Jenkinson's in the North

Jenkinson's Purchases Casino, Waterworks

By: Patrick K. Burke. Staff Writer for Manchester Reporter.

The owners of Jenkinson's boardwalk have purchased the Casino Pier and Waterworks in Seaside Heights, giving the Storino family two of the largest tourist destinations in Ocean County and the state. The Casino Pier is located 11 miles south of the Jenkinson's Boardwalk.

"This acquisition makes perfect sense. It offers the oppertunity to Cross-market and promote both parks. Each facility offers unique attractions for the whole family " said Vincent Storino Jr. . The deal was closed on Friday. Jenkinson's boardwalk offers amusement rides, games, arcades, an aquarium, a nightclub, resturants and several other attractions.Casino Pier in Seaside Heights offers similar entertainment.

By puchasing Casino Pier, the Storino Family has a lock on Ocean County's largest oceanfront tourist destinantions.According to Jenkinson's officials, this acquisition brings an unprecidented cohesiveness to the Jersey Shore. Hundreds of thousands of tourists-and tourist dollars-come to Jenkinson's Boardwalk and the Casino Pier Each summer.

Casino Pier owner Robert Bennet, who developed the famed status the Seaside Heights Boardwalk retains, will stay on as operating officer at Casino Pier. Bennet,69, was unavailable for comment, but a Seaside Heights official said Bennett, the largest business owner in the borough, was a great operator.

Marilou Halverson, director of marketing for Jenkinson's, said acquiring Casino Pier will allow them to reach out to a larger segment of the market. Both amusement centers are the largest along the Jersey Shore, she said. The terms of the deal, which have been in the works since fall, are not being disclosed. The Storino family also is part-owner of the Tradewinds beach club and, nightclub in Sea Bright, but holds no other properties outside of Point Pleasant Beach, Halvorsen said.

"You'll be able to offer something for everyone in the family" . Halvorsen said of the recent acquisition. Seaside Heights buisness administrator John Camera said the sale "is a very positive thing". Camera said Bennett has done a great job running the oceanfront amusement center and "was one of the best", but having a new owner come into town likely will bring upgrades to the Casino Pier. "(The Storino's) have plenty of money to make Improvements," he said. Generally, when a new business owner takes over, they want to do improvements, he said. Because the Storino's own Jenkinson's Boardwalk, they are a proven operator of an amusement center.

Having the same owner for both resorts will cause less competition, Camera said, and "The same operators will be promoting both areas." Seaside Heights has a census population of 3,000 year-round residents. In the summertime, however, residency swells to 30,000. And on any given summer day, upwards of 100,000 visitors flock to this resort destination, Camera Said.

Seaside Heights rakes in nearly $2 million each summer from parking meter and beach badge fees alone. The Seaside Boardwalk draws tens of millions of dollars in revenue every summer, Camera said, adding, "We're a heavy-duty resort town."

Hopefully, this will be a plus for Seaside.