Atlantic City: Rise, fall and rebirth?
By Eric Sandler
"First rule of politics, kiddo: Never let the truth get in the way of a good story." - Nucky Thompson, 'Boardwalk Empire'
Betrayal. That's what some are calling it. Over this past weekend, more than 5,000 people lost their jobs in Atlantic City as Showboat closed on Sunday, followed by Revel on Monday and Trump Plaza coming on September 16, according to the Associated Press.
Unprecedented. That's what others are calling it. Since the city was incorporated in 1854, it has year after year been considered a hub of opportunity, jobs, excitement, entertainment and most of all, revenue. And yet, as this year is witness, the gross gaming revenue has hit a downward slope it is unable to rise out of.
Atlantic City's gaming industry is experiencing a severe contraction -- though that is "exactly what the city needs to survive," say some experts. With too many competitors rising up and not growing the overall pie, profits were continually sliced smaller and smaller each of the past few years.
With the three most recent closures, Atlantic City's list of casinos shrinks to just a fraction of what it started with at the beginning of 2014 -- and with that maybe hope for a future according to some.
As the fate of the once-mighty city hangs in the balance, scroll through the pictures above to watch Atlantic City transform from its rise all the way through until today.
Do you think Atlantic City has a chance of revival? Comment below to share your thoughts.
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