New Yorkers have approved an amendment that will allow seven casinos to open in the state, including one to three in the New York City area in seven years. And that could sound the death knell for Atlantic City, already struggling under the weight of regional competition.
Atlantic City should be "very concerned," said Chad Mollman, an analyst who covers casino and hotel stocks for Morningstar. "New York City is the biggest feeder market in Atlantic City. There is a question in terms of the viability of Atlantic City in the long term."
Resorts was the first legal casino on the East Coast when it opened in Atlantic City in 1978. A lot has changed since then.
http://www.cnbc.com/id/101177129
Why New York casinos could crush Atlantic City
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