Sunday, July 13, 2014
Las Vegas is hurting but not as bad as Atlantic City. By Geniusofdespair
Gambling is washed up, saturating the market at too many Cities in the U.S.:
Atlantic City's crumbling casino market disintegrated even further Saturday as the owners of the Trump Plaza casino in Atlantic City said they expect to shut down in mid-September.
Trump Entertainment Resorts told The Associated Press that no final decision has been made on the Boardwalk casino. But the company said it expects the casino to close its doors Sept. 16.
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3 comments:
So, yay. Let's all line up behind Genting and move a megacasino into downtown Miami.
Oh please. Gambling, tourism, second home construction, it doesn't matter what you call it, the reason that Atlantic City, Las Vegas, and eventually Miami will crumble is because their entire economies are service-based and only work when there are people around. Just like Hurricane Sandy was too much for the fragile Atlantic City economy to handle, the loss of water resources will kill Las Vegas, and a repeat of the 1926 Miami Hurricane will wipe the lovely "paradise" you all have created right off the porous coral below your feet.
Sea level rise and overly generous pay and benefit plans to public sector employees will doom South Florida. When 72% of the $555 Mil City of Miami budget goes to pay and benefits for 4,200 employees and when 60% of Miami-Dade County's budget goes to pay and benefits for 27,000 employees we face disaster.
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