Chris Christie's Atlantic City Problem
338 Words2 Pages
April 4, 2014, MSNBC headline said it all ‘Ghost Town’: Chris Christie’s Atlantic City problem. The revenues have reduced by half to 2.6B and one third of the casinos have closed their doors. Atlantic city, once touted as the Vegas of the East coast, was actually earning more than the famed Vegas strip from 1983 to 1999. Atlantic city came on the gambling destination map in 1978 and grossed over $5.2B in the year 2006.
The US economy had already started to see a downtrend by 2006 and by 2008-2009 the US government was on an overdrive to save the industries and jobs in general. Las Vegas was no more the most preferred destination, the overall revenues and hotel occupancy dropped drastically. The unemployment remains second highest in the country