Posts Tagged ‘Trump Plaza’

Inside Gaming: Boardwalk Bruises

by , Mar 3, 2013 | 1:00 pm

Atlantic CityAtlantic City can’t catch a break.

The gaming market has seemingly been covered by dark clouds for much of the past six years. Last week’s announcement that Revel, the Boardwalk’s newest resort, was filing for bankruptcy less than a year after opening, didn’t shock anyone.

Bad news has become expected.

Atlantic City gaming revenues have declined more than 40 percent over the last six years. The Boardwalk suffered through labor strife, competition from resorts in neighboring states, casino closures, stalled investments and the recession.

When Hurricane Sandy washed ashore in October, shutting down portions of the Boardwalk for as long as to a week, several analysts quietly wondered whether the freakish storm was a warning sign from above.

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