ATLANTIC CITY, N.J. (AP) — Atlantic City started the year with 12 casinos. By Labor Day, it could be down to nine.
The Atlantic Club is dead, taken down by two rivals. Revel says it will close if a buyer can’t be found, and Caesars Entertainment, which says there are too many casinos in New Jersey, plans to shutter one of its four, the Showboat, on Aug. 31.
Mayor Don Guardian, who could see a quarter of his city’s casinos close during his first year in office, said Atlantic City is in the midst of a difficult but necessary makeover from being a gambling resort to a multi-faceted destination where betting is only part of the allure.
Speaking at the East Coast Gaming Congress in Atlantic City in May, several Wall Street analysts said Atlantic City’s casino market is in the process of correcting itself, which they considered a good thing for its long-term viability.