Pennsylvania’s legalized slot machines and more conveniently located Indian casinos have pulled gamblers away. Today, the city struggles to keep up with the competition. On the East coast, gambling was once centered in Atlantic City. Atlantic City “is a drive-to destination, which makes it especially vulnerable to erosion by casinos located closer to its customers,” wrote Michael Hiltzik of the Los Angeles Times. Louis, Missouri.Ītlantic City is in a rut, not because people are giving up gambling, but because gambling is being outsourced. However, this is where Atlantic City’s decline tells a different story than those of Gary, Indiana, or East St. You could think America is giving up its gambling addiction. If you see the harm caused by gambling to individuals, you might think this is a good sign for the United States. “We put all our eggs in one basket, and you never put all you eggs in one basket,” he said. Atlantic City Mayor Don Guardian regrets having a city so dependent on one industry. When the casinos’ gross revenue dropped from $5.2 billion in 2006 down to $2.8 billion in 2013, it’s easy to see why the city has been so adversely affected.Ītlantic City is built around gambling: No gambling means no income. In 2014, Atlantic City’s dozen casinos “accounted for 56 percent of the assessed value of its tax base,” reported a local Atlantic City news source.

Some estimates say roughly 7,000 people, or 25 percent of Atlantic City’s casino workforce, may lose their job in the next couple months.Ītlantic City is primarily built around taxes from casinos. Unemployment, currently at 10 percent, is expected to worsen by year’s end. Standard & Poor’s recently downgraded the city’s bond rating due to the closings, a move that will cause investors to shy away from the city. Four casinos have closed their doors this year already, with another one possible this November. Today, the actual image on the Boardwalk hardly lines up with the property portrayed on the famous Monopoly board. People drove hundreds of miles to join the gambling scene. The city became the Las Vegas of the East. Hotels and casinos opened up along the famous Boardwalk.

Thus, gambling was legalized.Ītlantic City experienced a boom. City officials needed something to bring back the city’s spark.

The city experienced its cycle of ups and downs, but by the late ’70s the economy was rough. A city of roughly 40,000 people situated on a small island just off New Jersey’s southeastern coast, Atlantic City can hardly be defined as “industrial.” It was originally established as a resort town at the start of the 20th century.

Gambling addiction atlantic city