The bad news is getting worse: Atlantic City, which has seen the announcement of three casino closures this summer, is likely to see even more: Deutsche Bank forecasts the city will be home to just six casinos by 2017.
Revel, Showboat and Trump Plaza — which collectively employ about 5,900 people, or nearly one-fifth of the workforce for Atlantic City casinos — are scheduled to shut by summer’s end.
Resorts and Trump Taj Mahal will “join the list of shuttered properties” in coming years, the bank predicted.
“By 2017, we foresee Atlantic City to have two center boardwalk casinos (Caesars and Bally’s), the Tropicana, and three casino hotels located in the Marina district (Borgata, Harrah’s, and Golden Nugget),” the report said.
Casino gambling peaked in Atlantic City in 2006 with $2.6 billion in revenues. The industry currently generates about half that.