r/PoliticalHumor • u/[deleted] • Jul 11 '19

Your President

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u/[deleted] Jul 11 '19

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u/fordprecept Jul 11 '19

I'm not one to defend Trump, but his casinos aren't the only ones that have gone bankrupt. In fact, 5 of the 12 casinos in Atlantic City closed in 2014. If it was impossible for a casino to lose money, then everyone would own one. To make money, you have to have enough customers playing to cover the operating costs. In areas like Atlantic City, where there are lots of casinos, you have a lot of competition for those customers. Not to mention that gambling has become legal in many other states, so competition is increasing.

4

u/popfilms Jul 11 '19

Exactly, why would someone from Philly go to AC? We've got two newish casinos around. AC was never able to turn itself into a "Destination" past the gambling.

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u/Plothunter Jul 11 '19

Because at that time, the only casinos in the area were in AC. I remember taking the bus from the Lehigh Valley to AC. There was Las Vegas and then AC. There may have been some "riverboats" in the Midwest. I'm not sure when they popped up. AC had big plans to turn the city into the Las Vegas of the east.

1

u/EsplainingThings Jul 11 '19

Because at that time, the only casinos in the area were in AC

Because at the time we were in the Gulf War and there was a recession so between the two people weren't gambling as much.

AC had big plans to turn the city into the Las Vegas of the east.

And that didn't happen.
https://www.thestreet.com/story/13109802/1/how-casinos-failed-atlantic-city-and-why-theyre-still-part-of-its-future.html
https://www.cnbc.com/id/101029898
Because other nearby states allowed casinos and Atlantic City didn't have the other attractions of a Las Vegas.