The 2016 TMA Mid-Atlantic Regional Symposium was back on the Atlantic City Boardwalk June 8-9 for the second year in a row. But will the popular seaside destination be able to address its financial woes and reclaim its status as a premier destination on the Jersey shore? 

A panel of experts addressed the city’s historic past, troubled financial present, and promising future in “The Future of Atlantic City,” which all agreed depends on the city getting its financial house in order. The city owes millions to hotels and casinos for years of overpaid taxes, but if the city were to make such large payments all at once, its liquidity would be eliminated. The panel debated the benefits of a Chapter 9 proceeding versus a takeover by the state of New Jersey under recently passed state legislation. 

Opinions varied about whether Atlantic City has any chance of regaining its lost luster. One panelist, Eric Browndorf of Cooper Levenson, believes that it can. “I know for a fact that no amount of trials or tribulations will prevent Atlantic City from once again being the playground of the world,” he said.

But another panelist, Arthur Abramowitz of Sherman, Silverstein, Kohl, Rose & Podolsky P.A., views the city as a sinking ship. “Why anyone would want to be the governor of New Jersey is like asking someone to be the band leader on the Titanic,” he remarked. 

Nightclubs, casinos, restaurants, and entertainment venues—many have come and gone. But the fact is, when the summer season hits, people head for Atlantic City in droves. The city’s population of 39,000 swells significantly at times during the year, accommodating 30 million visits annually.

This year marked the 14th for the Mid-Atlantic Regional Symposium, and 269 attendees convened at Caesars in Atlantic City. The two-day event effectively combined relevant professional development with ample opportunities for attendees to do what they came to do: network and make valuable business connections. 

Each day began with professional development and ended with multiple networking events. From golf and skeet shooting to a TMA NOW spa luncheon and various receptions, attendees were never at a loss for what to do next. Keynote speaker Stuart Rothenberg, a highly respected political analyst and commentator, gave a very apropos analysis of the upcoming presidential election. His main takeaway: “I guess you’ll have to decide who you hate less” in deciding between presumptive major party nominees Hillary Clinton and Donald Trump.

For the fifth year, nationally recognized economists shared their in-depth perspectives on the economy for the year ahead. The current outlook shows that the U.S. economy is stalling. The Bankruptcy Judges’ Roundtable explored expired collective bargaining agreements, 363 sales, and equitable mootness.

The panel presented by the TMA NextGen and TMA Network of Women (NOW) groups discussed how to bring in more business as well as issues relating to the development of leadership and marketing techniques for restructuring and insolvency professionals.