Revel Casino Hotel is set to close. Atlantic City casinos close, leaving a gloomy future. Kazad/ARTCENTRON

As Atlantic City casinos close, many look to a gloomy future of job losses and unemployment. Discover the reasons behind the closure of these top gaming venues and the challenges faced by the city.

BY KAZEEM ADELEKE

ATLANTIC CITY, NJ. — The gambling industry has long been a major source of revenue for Atlantic City. However, the closure of the Showboat Casino and the Revel Casino Hotel and the impending closure of the Trump Taj Mahal, have put the city at a point of crisis. This article will explore the reasons behind the decline of the Atlantic City casinos and the challenges faced by the city. It will also examine the emergence of new casinos in neighboring states and their impact on the industry.

The Rise and Fall of the Atlantic City Casinos

The Great Depression and Job Losses

The Great Depression of 2008 is one of the reasons behind the decline of Atlantic City casinos. The economic downturn led to unprecedented job losses and massive unemployment. With no money to spend, gamers dwindled, and the result was the closure of many casinos.

Competing Casinos in Neighboring States

Another reason proffered by gaming industry experts is that other states are opening their own venues, making Atlantic City casinos less lucrative. In the last five years, many neighboring states around Atlantic City have opened their own gaming venues, stealing crowds from there.

Changes in Age Demographics

The focus of many of the Atlantic City casinos was chiefly on gambling and entertainment. Industry forecasters had great expectations that older demographics would swarm the casinos. For many years, the forecasters were right. As the demographics shifted towards a younger generation who favored entertainment over gambling, the casinos lost not only the older generation but also the younger groups.

The Emergence of New Casinos in Neighboring States

Baltimore Horseshoe Casino

The Horseshoe Casino in Baltimore is one of the many venues that have emerged in neighboring states, stealing crowds from Atlantic City casinos. It is strategically located close to the Greyhound Bus Station and the Ravens and Orioles Stadiums, making it convenient for sports fans. To make the casino attractive, the owners have put in place many amenities and activities that will keep customers engaged, including music, comedy shows, and performances.

Focus on Maximum Customer Experience

The Horseshoe Casino owners have learned from the mistakes of the casinos in Atlantic City. The focus at the Horseshoe Casino is on how to best provide guests with the maximum experience. Besides gambling, there are also different forms of entertainment, and well-known chefs have set up restaurants in the casino to provide excellent food for guests.

The Future of Atlantic City Casinos

Job Losses and Reduction in Tourism

The closure of the Showboat Casino, Revel Casino Hotel, and Trump Taj Mahal will no doubt have unbelievable consequences for the city, which gets a large share of its revenue from casinos and gambling. Besides the massive job losses, there is bound to be a reduction in tourism in Atlantic City. Tourism is another major source of revenue for Atlantic City.

Interest in Taking Over the Vacant Casinos

Several companies are already showing interest in taking over the Showboat Casino properties. While the focus may not be on gambling, the takeover of the Showboat Casino will no doubt bring jobs back to the boardwalk and Atlantic City. Atlantic Properties Group of Vineland and Latitude 360, a Jacksonville company, are some of the groups that have expressed interest in taking over the Showboat Casino and hotel property.

Conclusion

The closure of the Showboat Casino and the Revel Casino Hotel has become a major issue for Atlantic City, which gets a major part of its revenues from gaming. The impending closure of the Trump Taj Mahal is going to add to the massive unemployment in this city that rivaled Las Vegas in the gambling industry. The emergence of new gaming venues in neighboring states and the changes in age demographics have also contributed to the decline of the Atlantic City casinos. However, there is hope that these casinos will one day rise again.

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