Resorts Casino In Atlantic City May Learn Fate This Week

Resorts Casino Hotel in Atlantic City may soon become just another blast from the past when people speak of great casinos in the city. As early as this week, Resorts may learn its fate, and the reality is that it may shut its doors for good.

Atlantic City casinos have been ravaged by the economy in the past couple of years. Resorts has been struggling financially, and gaming regulators in New Jersey may rule this week on whether or not lenders can take over the casino.

If that happens, there is a chance that the casino could be closed. It is not something that those who grew up in Atlantic City want to thing about, but it is certainly a possibility with the amount of debt the casino is in.

"To lose Resorts would mean losing one of the casinos that built the foundation of casino gambling in Atlantic City," said observer Gary Grillon, "It would just be a devastating blow to the city and the casino industry in general."

Atlantic City has had casinos operating for over three decades, and there has never been an establishment that has been taken over by lenders. It would be, however, a sign of the times. AC casinos have had revenue decreases for many months in a row, and it does not appear to be getting any better.

Recently, some of the bigger names in the casino industry have began to purchase casinos in the city. The hope is for a revival of what was a once proud industry, but the likelihood of that happened appears slim because of increased competition in neighboring states.

September 14, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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