More Financial Trouble For Atlantic City Hilton Casino

It just keeps getting worse for Atlantic City casinos. What was once the casino gambling capital of the East Coast has turned into one of the hardest hit by the economic recession in the US. This week, it became clear that things are still on the way down.

The Atlantic City Hilton casino became the latest casino to miss a motgage loan payment. Already there have been several casinos that have followed a similar path, and now the AC Hilton has added their names to the list.

As of now, there has been no regulatory action that has been taken, but that could change in the near future. The Hilton is currently attempting to refinance their debt with lenders, but have not yet reached an agreement.

"This is not uncommon in the current economic climate that casinos are having problems paying their debt," said observer Larry Bell, "being that the competition is becoming stronger in the Northeast, it would not be surprising to start seeing more AC casinos closing their doors."

Perhaps anticipating the economic struggles, Connecticut's two tribal casinos are goping for the throat when attacking the ATlantic City casino inductry. The two casinos have entered into a joint venture billboard campaign. The goal is to steer people in New Jersey North, to Connecticut, instead of South to Atlantic City.

Casinos throughout the country have been experiencing revenue decline for over a year now. Despite the decline, casino expansion is at an all time high in the US.

August 21, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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