Analyst: Northern New Jersey Casinos Could Make Situation Worse for Atlantic City

Originally appeared in: CBS New York
Thursday, June 2, 2016

ATLANTIC CITY, N.J. (CBSNewYork/AP) — A Wall Street analyst has predicted as many as half of Atlantic City’s eight casinos could be forced to close if voters in November approve two new casinos in northern New Jersey.

A Monmouth University poll released Thursday shows voters evenly divided on whether to authorize construction of two new casinos near New York City. Hours later, Fitch Ratings predicted that one to four Atlantic City casinos could be forced to shut down if new casinos are built in northern New Jersey.

That prediction is similar to one made by Resorts Casino Hotel president Mark Giannantonio at a major gambling conference last month. He said three to five of his city’s casinos could go under if faced with in-state competition.”

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