Atlantic City has been the talk of the town in the US lately, as the second largest casino area in the country has been full of casino's and hotels shutting down due to bad numbers. A few days ago the Showboat officially closed down after 27 years of operating on the board walk and now Revel Casino also shuts their doors to the public.
Revel Casino was build around 2 years ago and costed around $2.4 billion to build. The plans for the hotel and casino where massive, as the owners expected it to be busy most of the year and have insane amounts of revenue. The problem was that this just never happened and despite trying to sell the hotel and casino for a long period of time, Revel was now forced to close and fire all of its employees instead.
This means that four out of 12 casinos in Atlantic City has closed down this year, leaving only eight left to continue the heritage of Atlantic City. While it may become a healthier place to own a casino now, one can't stop thinking about the more than 5,000 people who are now unemployed and doesn't have any income.
Atlantic City's revenues has declined massively the past 10 years, reaching record low levels of $5.3 billion last year. Even with only eight casinos left, the numbers are still quite low to ensure that the casinos turn a profit and doesn't have to fire any more people.