Israel Joffe: Catastrophic Collapse Of Atlantic City

With almost half of the casinos in Atlantic City closed, almost all New York states began to vote on gambling, casinos or race issues, as if the reason for the existence of Atlantic City was in serious danger.

It can be seen from HBO Border Empire that Atlantic City was a major resort during the boom period of the 1920s and 1930s. However, with the daily use of cheap air tickets, there was no reason to go to many seaside villages on the east coast for vacation, and Atlantic City collapsed. For decades, during this week’s period, this city, known as the “evil oasis”, has fallen into serious recession and destruction.

New Jersey officials believe that the only way to recapture Atlantic City from the brink of disaster is to legalize gambling. The first casino resort in Atlantic City opened in 1978. When gambling officially entered the East Coast, people stood side by side in the hotel. East Coast people do not have to go to Las Vegas to play dice, slot machines, roulette and other games.

although the detractors believed that the region was still poor and destructive, officials quickly pointed out that casinos did not bring about large-scale gentrification to Atlantic City as they hoped, but it was worth bringing billions of dollars in income and thousands of jobs to the surrounding communities.

The reputation of Atlantic City is the same as that of “daytime leisure” places for short-term stay, but it has successfully fought against “adult playground” and “world entertainment capital” Las Vegas.

Throughout the 1980s, Atlantic City will become an integral part of American popular culture and a place for residents on the east coast to watch gambling, boxing, wrestling, concerts and other sports events.

However, in the late 1980s, a landmark decision saw Native American reservations as sovereign entities not subject to state law. This is the first potential threat to the iron fist rule of gambling and entertainment industry in Atlantic City and Las Vegas.

The giant casino was built on a reservation comparable to Atlantic City and Las Vegas. Instead, Las Vegas has built more impressive casinos.

In order to get rid of the more glamorous and filthy reputation of “whale” millionaires and billionaire gamblers, Atlantic City built a luxurious Volgata Casino in 2003. Hala Group has expanded its $1 billion Gata Casino, and other casinos in the region have also been seriously refurbished and re branded.

Native American casinos seem to squeeze a negligible profit from the profits of AC and Las Vegas, but the dominant position of these two cities in the gambling field will not be challenged.

In 1999, Macao officially became a Portuguese colony and returned to China. Macao’s gambling industry is operated under the exclusive license issued by the government by Stanley Ho’s Sociedede Turimo e Divers de Macau. The monopoly ended in 2002 and several casino owners in Las Vegas tried to enter the market.

Under the policy of “one country, two systems”, except for the large casinos emerging in various places, the region has hardly changed. All the rich whales from the Far East have no reason to go to the United States to consume any more.

The second is the biggest threat.

As revenues from dog and horse races across the United States dry up, government officials need ways to restore employment and revitalize surrounding communities. The horn tiger hunting machine on the track was started in Iowa in 1994, but in 2004, the “Lachino” was introduced in Pennsylvania, aiming to reduce the property tax in the state and help poor areas recover.

As of 2013, racinos was legal in 10 states. Delaware, Louisiana, Maine, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island and Virginia are expected to use racinos in more states in 2015.

Racing tracks such as Delaware Park and West Virginia ‘sMountainer Park were once considered as places where local degenerates ran with bad horses. Now they have the richest track and the best race.

The famous ferry route in Queens, New York, is facing an uncertain future. At present, it owns the most profitable casino in the United States.

From June 2012 to June 2013, Aqueduct accounted for a quarter of the total gambling revenue of more than a dozen casinos in Atlantic City, $729.2 million, and a.C.’s gambling revenue was $2.9 billion. It is speculated that the revenue and growth of New Jersey casinos have been hit by 15%.

The ferry not only took away their career. Atlantic City is 35 to 40 minutes’ drive from the nearest major city, Philadelphia. It is one of the largest cities in the United States. At present, there is a casino, which has played a great role in reducing the number of game players in the region.

New Jersey is the third state in the United States to allow online gambling. However, this online casino is owned and controlled by Atlantic City Casino to increase profits in the fierce competition.

California, Hawaii, Illinois, Iowa, Massachusetts, Mississippi, Pennsylvania, and Texas hope to join trauma, Nevada, New Jersey, and the United States Virgin Islands to provide online gambling for residents.

With this in mind, Atlantic City was once the gambling and entertainment center of residents on the east coast, but now it seems to be moving towards the dustbin of history.

Time will tell whether the city will end like Detroit. However, like Detroit, with the downturn of the real estate market, the bankruptcy/closure of casinos and the bankruptcy of enterprises, the fate of Atlantic cities is strikingly similar. The main competitor of Atlantic cities is the largest industry.