What Went Wrong in Atlantic City
It looks like four casinos will be gone this year in Atlantic City (1). Some observers of the gambling scene will blame Atlantic City's inability to support the casinos it presently has on the proliferation of new casinos in Pennsylvania and New York.
But I believe that is only a minor factor. The city made a big mistake not leveling the entire city and deporting the ghetto denizens and starting completely fresh. The city should have been allowed to have glitz a la Las Vegas. The city has a budget of $250 million a year and everything a few blocks from the casinos still looks like ghetto.
Now there's talk that Jersey is looking to expand casino gaming to the Meadowlands and Jersey City (2).
With declining casino revenues, the city is looking to expand non-gaming offerings. But who wants to come to A.C. if it's filled with low-life criminals, prostitutes, and ghetto bums? If the city wants to save itself, I suggest it relocate its trailer-trash and bulldoze everything not casino - something it should have done decades ago.
ENDNOTES
(1):
Philly.com, 22 Jul 2014, If 4 A.C. casinos close in September, then what?
ATLANTIC CITY - This resort faces the prospect of having four major vacancies on its famed Boardwalk come mid-September.
The grim reality sank in July 14 when Trump Plaza issued layoff notices and targeted Sept. 16 as the date to cease operating as a casino.
...
In addition to Trump Plaza's shuttering, the Atlantic Club closed in mid-January. Revel and Showboat are on the bubble. Both casinos threatened to close if they do not find a buyer by summer's end.
City and tourism officials are pondering what else could go in the spaces they occupy. The city stands to lose about a third of its property tax revenue - about $75 million - if all four casinos go dark.
(2):
NJ.com, As Atlantic City struggles, lawmakers eye North Jersey casinos
Now the impending closing of two and maybe three more Atlantic City casinos has state lawmakers pushing to expand gambling to North Jersey, and local leaders looking to broaden the resort city’s image as a convention hub and vacation spot.
...
The closings have amplified calls to expand casino gaming to the Meadowlands and Jersey City.
