PHILADELPHIA ? Atlantic City?s recovery from its lengthy slump may depend on some weaker casinos going out of business and the survivors benefiting from a smaller, though more profitable gambling market, analysts said Tuesday.
The survival-of-the-fittest strategy was debated during the Pennsylvania Gaming Congress, an industry conference that focused largely on Atlantic City?s plight and the prospects for a turnaround following six straight years of declining casino revenue.
During a panel discussion, Wall Street analysts argued that Atlantic City will never return to its $5 billion heyday and that it may be better for the unprofitable casinos to close down because there is simply too much supply in the shrinking market.
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Source: Donald Wittkowski (2013). ?Analyst: Atlantic City?s weak casinos’ closing would benefit survivors, pressofAtlanticCity 1?published?Apr 17, 2013. Viewed Apr 18, 2013,
