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Atlantic City casino shutdown needed, analysts say

By Wayne Parry
Published June 29, 2014 3:31pm ET
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Atlantic City casino shutdown needed, analysts say
FILE - In a Friday June 27, 2014 file photo, The Showboat Casino Hotel in Atlantic City N.J., is seen hours after its parent company, Caesars Entertainment, announced it would shut down the Showboat on Aug. 31. It will be the second Atlantic City to close this year, along with The Atlantic Club, and a third may shut down as well if Revel Casino Hotel can't find a buyer in bankruptcy court. Atlantic City started the year with 12 casinos. By Labor Day, it could be down to nine. (AP Photo/Wayne Parry, File) | Wayne Parry

ATLANTIC CITY, N.J. (AP) — Atlantic City started the year with 12 casinos. By Labor Day, it could be down to nine.

For years, economists and analysts talked in theoretical terms about “casino saturation” in the northeastern United States. But there’s nothing theoretical about what’s happening in Atlantic City now.

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Budgets and Deficits Gambling New Jersey