Report: Atlantic City May Have Just 6 Casinos by 2017

So says a Deutsche Bank forecast.

Photo courtesy  Wikimedia Commons.

Photo courtesy Wikimedia Commons.

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.

The Press of Atlantic City reports:

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.

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  • John

    They had it coming to them. After a series of mergers, there was much less competition, so the comps and other incentives became less attractive. Then they dragged their feet when Maryland and Pennsylvania legalized gambling, permitting gamblers to play without the multi-hour drive. Their beach isn’t any better (and by many accounts, is worse) than many of the beaches neighboring Atlantic City.

    Atlantic City needs to reinvent itself and do so quickly.

  • MurderHeWrote

    Quick fix that will actually work: State of NJ legalize marijuana in AC only.

    • DaTruthHurz

      the drugs & crime in AC are keeping the people away!

  • Michael Goldman

    I think they’re wrong about either Resorts of Taj. Both will get a bump from the competitors closing and Resorts had been on an upward trend this year. Taj is going to be the northern anchor property of the Boardwalk for a time. I can still see all 8 surviving as an outside possibility.