Dire Economic Fallout Expected from Atlantic City Casino Closures
Casinos in Atlantic City are closing quickly, costing the local economy 5,700 jobs and leaving the city with four large, empty buildings of a variety that offers little or no precedent for reuse.
"The closing of three casinos, starting with Showboat and Revel this weekend followed by Trump Plaza two weeks later, and the rapid-fire loss of 5,700 jobs, draw historic comparisons to longer-term collapses of U.S. industries such as steel," writes Harold Brubaker.
"Beyond the thousands of job losses, which will spread into related industries and the general economy, Atlantic City will soon be left with four empty buildings (including the shuttered Atlantic Club) that have no clear future."
Published on Sunday, August 31, 2014 in
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