Why Atlantic City Should Trade in Its Casinos for Research Institutes

It’s been five years now since New Jersey Governor Chris Christie uttered this sentence: “Atlantic City is dying.” The governor’s 2010 plan to turn Atlantic City into “Las Vegas East”—what was it before?—has failed. In 2014, four major casinos shuttered, including the Revel Casino Hotel, which was built in part with state money. Three of the casinos declared bankruptcy.

There’s some indication that the bleeding may have slowed. The Associated Press reports that four of the eight surviving Atlantic City casinos enjoyed a better June than they did one year ago. Three saw big gains, even, although one casino—the Trump Taj Mahal, which is mired in a fierce union struggle—suffered a double-digit decline. Signs of life notwithstanding, from January to June, the year-over-year benefits of decreased competition slipped significantly.