The Economic Impact of Casino Closings

Atlantic City's Downfall Hurts New Jersey

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    NEWSLETTERS

    TK
    Getty Images
    ATLANTIC CITY, NJ - JULY 5: A closed gaming area is shown at Caesars Casino July 5, 2006 in Atlantic City, New Jersey. All of Atlantic City's casinos were ordered closed because casino inspectors are among the thousands of New Jersey state workers furloughed due to the States' budget impasse. (Photo by Jeff Fusco/Getty Images)

    Thousands are losing their jobs and the state of New Jersey is losing tax dollars as the crumbling gambling industry ravages Atlantic City's economy.

    At its peak in 2006, the resort's casinos generated more than $500 million in taxes and fees for the Garden State. Eight years later, the city is suffering as increased competition keeps visitors from heading to the Shore.

    Back in 2013, the Asbury Park Press took a look at what led to Atlantic City's downfall in the four part series, Going for Broke. Visit APP.Com for the full report.