Why is Atlantic City collapsing? - KMSP-TV

Why is Atlantic City collapsing?

Posted: Updated:
AP file photo AP file photo
NEW YORK (MYFOXNY) - Just minutes from Manhattan, Resorts World Casino in Queens offers a world of hope for gamblers.

“I want to win a million dollars!” one lady told us.

And who doesn't?

For decades, making some quick cash was the main drive behind so many taking the ride down the parkway to Atlantic City.  But with so much to choose from nowadays, it looks like Atlantic City is in a lot of trouble.  

There are 39 casinos on the eastern seaboard from Florida to Canada.

The 27-year-old Showboat casino closed on Sunday and the Revel casino built for a $2 billion dollar price tag just two years ago begins the process of a permanent shut down this week.

The trifecta casino crumble will be complete when Trump Plaza shuts its doors September 16th, leaving 5000 Atlantic City workers unemployed

“There are too many other casinos around...who wants to drive two hours?!” one gambler told us.

In just the last 8 years, Atlantic City casino revenues are down about half from $5.2 billion to $2.8 billion and still dropping, along with the actual number of casinos.

The year 2014 began with 12 casinos, by year's end, only 8 casinos will still be in business. 

Earlier this summer, we traveled to Atlantic City and spoke with Dave Rebuck, the Director of the New Jersey Division of Gaming Enforcement.

He says the problem is not Atlantic City itself, its just having too many casinos in one place.

"This region, its not just Atlantic City, the region as I have mentioned before, the region is saturated. There is no doubt about it, you look at other states. Delaware is struggling. Pennsylvania has leveled and is going down" he said.

Resorts World Casino which opened back in 2011 has become the most successful racetrack casino in New York State and one of the most profitable casinos in the United States.

There is a different story in AC with so many people out of work, the Atlantic City Convention Center will have to open its doors to accommodate all those people filing for unemployment.

  • New Jersey NewsNew Jersey NewsMore>>

  • County honors Morris Marine who lost legs fighting in Afghanistan

    County honors Morris Marine who lost legs fighting in Afghanistan

    Tuesday, September 16 2014 1:57 PM EDT2014-09-16 17:57:28 GMT
    Seven months after losing his legs in an IED explosion while fighting in Afghanistan, United States Marine Sgt. Aaron Alonso was honored by the Morris County Board of Freeholders for his courage and service. Alonso, of Lake Hopatcong, was deployed one week after his wife gave birth to the couple's daughter. The explosion happened in Nad Ali, Afghanistan, in early February this year.
    Seven months after losing his legs in an IED explosion while fighting in Afghanistan, United States Marine Sgt. Aaron Alonso was honored by the Morris County Board of Freeholders for his courage and service. Alonso, of Lake Hopatcong, was deployed one week after his wife gave birth to the couple's daughter. The explosion happened in Nad Ali, Afghanistan, in early February this year.
  • Cops: Lacey committeeman punches another official in face at Gille Park

    Cops: Lacey committeeman punches another official in face at Gille Park

    Tuesday, September 16 2014 1:55 PM EDT2014-09-16 17:55:37 GMT
    Lacey police gave Township Committeeman Mark Dykoff a summons for striking fellow Township Committeeman David Most at a gathering near the pavilion at Gille Park on Sunday, Police Chief David A. Paprota said.Sgt. Paul J. Sullivan and Patrolman Daniel Ricciardella responded to a report of an assault at 1:13 p.m. on Sept. 14 at the park, the chief said.
    Lacey police gave Township Committeeman Mark Dykoff a summons for striking fellow Township Committeeman David Most at a gathering near the pavilion at Gille Park on Sunday, Police Chief David A. Paprota said.Sgt. Paul J. Sullivan and Patrolman Daniel Ricciardella responded to a report of an assault at 1:13 p.m. on Sept. 14 at the park, the chief said.
  • Man charged in quadruple homicide, former Brick resident's murders

    Man charged in quadruple homicide, former Brick resident's murders

    Tuesday, September 16 2014 1:53 PM EDT2014-09-16 17:53:26 GMT
    The man Florida authorities singled out as a suspect in a quadruple homicide involving three former Brick, N.J. and Lehigh Valley residents now faces four first-degree murder charges. Adam Matos was charged in the deaths of his ex-girlfriend, her parents and her boyfriend, late Monday afternoon.
    The man Florida authorities singled out as a suspect in a quadruple homicide involving three former Brick, N.J. and Lehigh Valley residents now faces four first-degree murder charges. Adam Matos was charged in the deaths of his ex-girlfriend, her parents and her boyfriend, late Monday afternoon.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices