Every gambling person know that the most popular city to gamble at on the west coast is Las Vegas and the most popular spot on the east coast is Atlantic City. Now that we are seeing the recession hit even Las Vegas we now know that no gambling town or city is immune from this recession. Now even Atlantic City is starting to feel the sting from the recently troubled economic times. revenues have come down in Atlantic city to the point that many of the bigger hotels-casinos aren’t able to make their loan payments. One of the them that recently announced this is Trump Enertainment resorts. It has gotten to the port where Trump resorts is trying to renegotiate with its lenders. many feel that almost half of the big Atlantic City casinos could try to get some bankruptcy protection sometime next year.
If only the laws for “ku77”, “ku777” would be made more laxed then most of these bigger Atlantic city casinos would shift a good portion of their revenues towards making online casinos and most current online casino operators know that its a lot less expensive to operate an online gambling site than it is for an offline or land based one. Another big Atlantic city casino that is also in some trouble is Harrah’s Entertainment Inc and they are also in some sort of deal to try to get out of the recent economic downturn by restructuring some of its long and short term debt. These are just some examples of the bigger land based casinos having trouble. Imagine what the smaller Atlantic City casinos are going through. Many analysts believe that most of these smaller casino outfits will not make it through the year 2009. Right now in Atlantic City its like a financial jungle and the law in any kind of jungle is to survive.
I still remember the many times my parents used to take me from our home in Brooklyn all the way across state to The boardwalk in Atlantic City just so we could have fun at the many different entertainment venues that they had setup for kids there. I really hope that Atlantic City could get through these tough times as I still have many fond memories of it even though i live on the east coast.
I for one am pulling for them. Good luck guys.