Atlantic City Economic Outlook Bleak As Casinos Close
The Atlantic City economic outlook is looking bleak these days as many of its 11 casinos are now closing. In addition to The Hilton (now The Atlantic Club), added to the closure list is Trump Plaza, Showboat, and possibly Revel which is looking for a buyer to step in. Trump Plaza is also looking for a buyer to avoid a closure in September 2014.
Everyone is getting out it seems and Atlantic City is looking for other ways to bring in revenue. One way is with the legalization of online gambling which only some of the remaining casinos can offer, and you have to be a NJ resident to play. Another is the opening of casinos in northern NJ, with some of the revenue being slated to go to Atlantic City.
Either way, this will all have an economic impact on the entire South NJ region and NJ as a whole. Ironically, this is not the first time Atlantic City has had to make an economic comeback. The same thing happened when the old Atlantic City grand hotels, which were replaced by the casinos, fell into disrepair and had to be demolished marking the end of a tourism boom at the time.
This is not a news article. I write this because I am from the Atlantic City area and wanted to comment on the current situation. With this current situation, it reminds me of why many of us need to look for other options when jobs disappear like this. What is tragic is the loss, and coming loss, of over 10,000 jobs should all of the aforementioned casinos actually close for good.
As Atlantic City started to look online for opportunities, so did I several years ago. With changes in employment situations sure to come, I knew to look into possibly starting a business online. I suspect many more people in the South NJ region are going to be doing the same thing with more time on their hands and with other job prospects limited. It is certainly a viable new media option to consider.
Even if one has a job, its worth looking into as you will certainly be replaced at some point and are kept on a leash long enough to get by but short enough so that you don’t have any real freedom. This current cycle of decline in Atlantic City, with its failed business ventures and loss of jobs, is another reminder of this. But this is not playing out just in Atlantic City. This is playing out all over the country.
Those with the courage to take control of their own financial futures will start their own businesses, either offline or online, and create their own outlooks that are not dependent on the local economy. With the ease of entry into earning an income online these days, there’s no reason why many suddenly job-displaced people all over the country won’t be looking into this option for years to come. It’s definitely what I’m doing.
Mike J Anthony
P.S. A wise man once said:
“Whether you think you can or think you can’t, you’re probably right…”
All it takes is making a decision, and then putting in the effort. If you are at a point in your life where enough is enough, and you’re ready to make a change, get started HERE.