2009 off to slow start for AC casinos

ATLANTIC CITY, N.J. - January 27, 2009 - One Atlantic City casino has been without an owner for more than a year, and its proposed sale looks shaky. Another may soon be foreclosed on by a bank that hasn't been paid since October.

Three others may have to file for bankruptcy if they can't get some breathing room from investors on more than a billion dollars worth of debt. And even the stronger casinos aren't doing that great.

The combined effects of the nationwide recession, a credit freeze, and cutthroat competition from out-of-state slots parlors are putting a beating on Atlantic City.

Las Vegas is feeling it, too: visitors and revenue are both way down from a year ago.

CLICK HERE to follow Action News on Twitter

CLICK HERE to get Action News on your website

CLICK HERE to find Action News on Facebook

Click here to get the latest Philadelphia news and headlines from across the Delaware and Lehigh valleys.

Copyright © 2024 WPVI-TV. All Rights Reserved.