ATLANTIC CITY’S PIE IN THE SKY

A city rolls snake eyes, Atlantic City has run out of luck; no more comps. The city at one time had visions of Vegas East Coast, but those visions have been swallowed up by the Atlantic Ocean which ebbs and flows at the front door of the iconic casinos. Even the “Donald” could no make it in Atlantic City, his tenure there has left a trail of bankruptcies rivaling the downfall of many of the “elephants” that roamed the casinos. What sets Atlantic City apart is the proximity to New York – fifty million people within driving distance were not enough to raise Atlantis. Atlantic City skyline from 47th floor of Revel

What doesn’t set Atlantic City apart from other failing cities is that Barack Obama received 85% of the vote in 2012 joining Chicago, Jersey City, Stockton and Detroit. Bankruptcy is now the plan. Reorganization lawyers have been hired against all odds to put a plan in place to solve the $400,000,000 in debt owed by the city. What is on the table is layoffs and debt relief. Current year deficit is running close to $100,000,000; that is real money that seems to have gone into a sinkhole.  The population of AC is only 40,000, mostly of the liberal persuasion that consistently spends more than it takes in.

We wish them good luck at the bankruptcy table as they roll the dice for what maybe the final time. Casinos were to be the “pie in the sky” for the cities hopeful, but as it turns out that many of its citizens who worked the casinos are lining up for government comps.

CHRISTIE WENT “ALL IN” BUT DIDN’T COLOR OUT

Governor Chris Christie of the Garden State was flush with taxpayer’s cash, went “all in” throwing good money after bad in Atlantic City. The results, four casinos were swept away, not by the Atlantic waves, but by the winds of time. A metaphor for other do-gooders, mostly of the liberal bent who continue to throw billions upon billions into public education. It just doesn’t work – stupid is stupid.P1050726

Perhaps the next stop for Governor Christie is Las Vegas, the city of dreams. A guy by the name of Adelson, knows a little bit about winning after all he owns the Sands, most likely will tell Christie that the way to win is to know when to walk away from the table.

Looking forward to 2016, Christie has to face the facts, his state is facing a 7% unemployment rate, Atlantic City’s rate is approaching 15%, Newark is in Detroit class and citizens are picking up and leaving before more of their savings are confiscated by big government. Can anyone imagine a Christie presidency? What would you have, Obama light.”

The Revel, the most recent casino, cost $2 billion and change folded up like a cheap suit. This was Christie’s biggest gamble, one where he said that Atlantic City is back. Actually, the casino industry in Atlantic City had their back up against the wall for the past decade. Revel Atlantic City from boardwalk.jpg

Revel’s next door neighbor also folded, the Showboat is no more. The Trump Plaza crapped out closing its doors after the Miss America Pageant on September 16.  What is left are the memories. Perhaps the collapse of Atlantic City’s icons are a good thing, less places to lose your money means spending on things you need may jump start the economy.

When will those who gamble on casinos creating jobs realize that bottom line “that casino and all forms of gambling  are not net job creators.