I have observed the growth in the industry, always wondered WHY, an industry that survives due to people losing money. Then growth started, the Indian Casinos, Atlantic City, most states had casinos, I think there are over 1500 or so, today. As "sharp" as gamblers are, why did they not see that there was, in fact, a saturation point. Atlantic City is sinking into the sea, billion dollar casinos are closing. It seems to me that I have heard the figure 30, 30 casinos in close proximity to Atlantic City. Is anyone surprised?
My guess is that many casinos are not doing as well as anticipated. Politics is GREEDY ... they legalize gambling, the casinos open, money rolls in, at first ..... and then, the trickle down happens. Why and how does ANYONE, anyone, not realize WHERE the money comes from to construct, maintain and sustain, a casino. It has always been a source of amazement to me.
We had some come to Reno, as a vacation, they enjoyed "wagering" ......... and ..... could afford to lose what they had set aside to gamble. They were in a MINORITY. I have seen the "look" on a face, when they last of their money, was lost. I have had people, normal rational people, beg me to purchase a ring or a watch or some jewelry because they had "lost it all" and needed money to get home.
In my time there, I personally knew three people, non gamblers, who lost it all, and committed suicide. I knew a man in Reno, the appearance of a "bum" ... who had sold a business and their home on the East coast, were on their way to California, stopped in Reno, "caught the bug" and lost it all. He scrounged and begged for coins, every dime went to the Nevada Club, which, in those days had a dime crap table. I have taken some of those dimes from him, and when the "seven" took his dime from him, our eyes have met. I could never find words, to adequately explain that look. He lost his fortune to Lincoln Fitzgerald at The Nevada Club, where I worked. I was there the day that security, due to his "odor" .... 86'd him, escorted him to the door and told him to never come back. That is the cold mentality of a casino.
"If we build it, they will come." Only if they have money and there is no place closer .... they should have thought of that in Atlantic City.
