Although gambling was supposed to help rebuild Atlantic City’s economy, it currently seems to be doing more harm than good. Casino revenue has been declining for almost a decade and a total of five Atlantic City casinos may shut down this year.
Atlantic City has invested heavily in the casino industry and despite high expectations, many casinos in the city are struggling and burdening the city’s budget. Because of the poor financial results of casinos, the amount of criticism at the local government is increasing. Many feel the experiment that was becoming and staying the gambling capital of the east coast has failed and it’s time to try something else.
Atlantic City’s year still started relatively well with twelve online casinos operating in the city. Throughout 2014, many casinos realized they were not bringing in enough money to pay the bills however. Atlantic Club, Showboat and Revel have already closed its doors this year, while both Trump Plaza and Taj Mahal will probably close before the end of the year