Atlantic City casinos closing...

AC is closing due to internet gambling being legal in NJ. No need to leave your house, pay for gas, drinks, dinner.

@Macrojack- Sandy did minimal damage to AC as compared to the towns north. The eye came ashore just south in Sea Isle City with the winds whipping in a circular fashion about 50-100 miles north. Hence all the serious damage in Ocean County and north to NYC.
AC was a victim of it's own success where everyone (unions) tried to cash in. Back when Trump built the Taj he bragged that it cost $1 billion to build. The same size casino resort in Vegas ran about 1/3 of that.

AC dropped the ball on making it more of a family resort. A family of 4 could go to Las Vegas and have a great vacation without ever stepping foot on the casino floor. Ac was all about gambling and not much of a family venue.

As noted by many, the proliferation of online gambling with PA and NY building casinos, AC has lost its customer base.

So AC benefited from being the only game in town until it no longer enjoyed that distinction. Apparently being a one trick pony was its real cause of failure.

In addition, it sounds like the investors just wanted to milk it to death while investing nothing to broaden its appeal. Strip miners, if you'll pardon the pun.

Seems like a corollary to what is happening across America. Everything now is about the immediate take with no concern for those who will follow. We'll be cleaning up and rebuilding behind the corporate raiders for a long time ---- if we survive them at all.

@Macrojack-No truer words could have been written about how money is made in the US. In most Asian countries, China to be specific, investment is carefully thought out to benefit the generations to come. Here investors are more concerned about the next quarterly report. Then again there are Bears like Warren Buffett, perhaps there is something to the long term investment strategy?

"@Macrojack-No truer words could have been written about how money is made in the US. In most Asian countries, China to be specific, investment is carefully thought out to benefit the generations to come. Here investors are more concerned about the next quarterly report."

You guys just pick out the facts that you want and ignore the facts you don't like. Look at how money is made in China. The cost of pollution and keeping the environment clean, doesn't apply to them. They do whatever they want without restriction. Pollution is irrelevant. They don't recognize pattens or copyrights. The fact that almost all other countries do is also irrelevant. Lets not forget how they treat their people; like animals. How would you like to have a job in China? You don't get a 15 min break for every 4 hours you work like you do in the US. They do, however, have child labor laws that are pretty fair. They make sure every kid has a job.

Maybe you guys should go over there and see what its like first hand. Just be sure not to commit any crimes or your first hand may become your last hand.