Investigators say the suspect opened fire at about 1:00 a.m. outside Bally's Hotel and Casino, near Michigan Avenue.
According to police, approximately 15 people were involved in a fight, with nearly 100 others in the surrounding area when shots rang out.
A 17-year-old boy from Vineland was shot in the leg. A 22-year-old man was shot in the upper chest. Both victims were taken to Atlantic Regional Medical Center. The 17-year-old was treated and released. The 22-year-old is still hospitalized, but police say his injuries do not appear to be life-threatening.
When the suspect stopped firing, he ran down Michigan Avenue. He remains on the loose.
Police recovered a weapon on Michigan Avenue at the Bally's bus terminal.
Bally's security is also involved in the investigation.
Two males were arrested near the area of the shooting on unrelated warrants.