Total Wipeout In Atlantic City
AP Images
This is from Capital NY's Capital Real Estate newsletter:
Atlantic City as we know it is dead: Showboat closed Sunday. Revel, the city's newest and most expensive resort, pushed hotel guests out the door on Monday and closed its casino floor early this morning. Trump Plaza is to fold in two weeks. And just like that, Atlantic City's glory days are officially over. Never again will the city be the gaming mecca it once was.
Atlantic City's economy is already ailing, and just the closure of Showboat and Revel will cost the city 5,000 jobs, according to the AP.
The closures are simple to explain: Total gambling revenues were over $5 billion in 2006. Today they're about $2.6 billion.
- Poonch Terrorist Attack: One Indian Air Force soldier dies, five injured; Patrolling intensifies across J&K
- The Role of AI in Journalism
- 10 incredible Indian destinations for family summer holidays in 2024
- 7 scenic Indian villages perfect for May escapes
- Paneer snacks you can prepare in 30 minutes
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market