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Latest casino closure a sign of the times in Atlantic City

Tuesday, September 02, 2014 - 00:59

The Revel Casino and Hotel in Atlantic City closes its doors after only two years in business. Nathan Frandino reports.

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After only two years in business, the chains are up at the Revel Casino and Hotel in Atlantic City. (SOUNDBITE) (English) TOURIST JASON MASTERS SAYING: "It's pretty sad. It's pretty bleak." The $2.4 billion casino is now closed. It's one of four casinos to be dealt their finals hands in Atlantic City this year. Earlier on Monday, crews took down the signage for the hotel, which never turned a profit. Now more than 3,000 employees are out of a job. (SOUNDBITE) (English) HAYAM SWIHA, REVEL EMPLOYEE, SAYING: "I'm so upset. That was the best place I ever worked. I don't want to work in another casino after you work here." The city's casino industry will earn about $2.5 billion next year, but will also drop to about $2 billion in the coming years due to increased competition from neighboring states. (SOUNDBITE) (English) TOM STILL, ATLANTIC CITY RESIDENT, SAYING: "It's sad to see this happen. But I still have hope and faith in this city and hope it turns around."

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Latest casino closure a sign of the times in Atlantic City

Tuesday, September 02, 2014 - 00:59