ATLANTIC CITY, N.J. (AP) — The rapid disintegration of Atlantic City's casino market might be an early indicator of what could happen in other parts of the country that have too many casinos and too few gamblers.
In the 36th year of casino gambling in New Jersey, which not too long ago had a monopoly in the East Coast, the casino industry is crashing with a suddenness and a fury that has caught many people here by surprise. It started the year with 12 casinos; by mid-September, it could have eight.
The Atlantic Club has closed, Trump Plaza and the Showboat plan to, and Revel could join them.
One expert says Connecticut, Mississippi and Pennsylvania could find themselves in similar situations before long because of increasing competition.