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Interesting story, with projected implications for Las Vegas and Atlantic CIty real estate...

This story posits an interesting scenario where Las Vegas and Atlantic City are viewed as "the next Detroit". Since Las Vegas is closer to me, it is of more interest. I've been to Atlantic City, but only once, and that was in winter, and I wasn't all-that-impressed.

But, the core aspect of the story rings true. The prospects for a locale heavily dependent on a single industry, when that industry suddenly becomes mobile.

I've often wondered what would happen to Las Vegas if it suddenly lost it's monopoly on large-scale gambling, especially to locales like Southern California.
  • December 22 2013 - US
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Answers (1)

Interesting article SoCal.

I have fond memories of AC and family vacations in the 50's and early 60's while I was growing up ( I suggest that if you ever come again, you come in the summer so you can enjoy the lovely beaches)

I also clearly remember when the first casino, Resorts,  opened in AC back in 1978 (year my son was born!).
I have watched AC grow, and move forward, then  take a few steps back, and grow again with  more new hotels and the convention center and shops...............  the most recent addition being the high tech, very sleek looking , Revel , along with its beach club (I haven't been there, but sent my son and his wife for their anniversary last year) unfortunately, as mentioned in the article, it is supposedly in, or close to, bankruptcy.

One of the more surprising/alarming comments made in the article was:

More than half of all home owners with a mortgage in the state of Nevada owe more than their homes are worth.

Will AC and LV become future "Detroits", due to the decline of their major industry?
 I certainly hope not.........and besides, I can't predict what I will be doing tomorrow!


  • December 22 2013
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