Us atlantic city gamble11/26/2023 It's on life support - but it is not dead, according to loyalists including radio host Pinky Kravitz. The New Jersey city once known as "America's playground," is not in good health. The city is $260 million in debt and owes millions more in bonds. Its credit ratings have tanked and more than 6,000 casino workers lost their jobs last year alone. That has meant job cuts, mostly through attrition, and pay freezes. Plunging casino revenues put a massive hole in the city's budget, which is now being slashed as a result. East Coast for more than 30 years is down on its luck, and its troubled finances are raising questions about whether it will follow in Detroit's footsteps and file for bankruptcy. Atlantic City, famous for its beach, boardwalk and casinos, has seen better days.
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