It’s been five years now since New Jersey Governor Chris Christie uttered this sentence: “Atlantic City is dying.” The governor’s 2010 plan to turn Atlantic City into “Las Vegas East”—what was it before?—has failed.
The Atlantic City casino industry implosion continues. Following the second, and final, bankruptcy of AC's "state of the art" Revel Casino a month ago, as well as the shuttering of Atlantic Club hotel Casino and the Showboat hotel casino, the grim corporate reaper has come for one of the most prominent boardwalk casinos of all: Trump Plaza.
ATLANTIC CITY, N.J. — When it opened just over two years ago, many people hoped Revel would save Atlantic City’s struggling casino industry, which has been bleeding money and jobs for years.
But now the US$2.4 billion resort that was widely seen as the last, best chance for Atlantic City’s gambling market is shutting down, unable to find a buyer for even pennies on the dollar.