THE DROP has DROPPED!!
The BIG news this week locally was all about the enormous drop in Casino revenue in Feb. As of today, the Casinos are almost 30% off their collective 2007 numbers! All four of the proposed "new" casino projects have either been cancelled or delayed and many of the existing Casinos are in real finiancial trouble, with a few either being foreclosed on or taking a Chpt. 11 bankruptcy. With proposed Casinos being planned for the Delaware River area in Philly and the Catskills Casinos getting ready to open up soon, it all adds up to an increasingly more seasonal market for AC and environs.
Thousands lose their Casino jobs
Thousands of people have lost their full-time jobs in these establishments and thousands more have seen their hrs. reduced. The bottom line for AC and the surrounding area is a "depression" level decline. The speed in which all this is happening has still not sunk in, locally. I suspect we will be seeing many people leaving this area to look for work elsewhere in the coming yrs. Contrary to the feel good nonsense of the local paid for cheerleaders , things suck for the average working person and small businessmen locally and I for one doubt we'll be seeing any real improvement any time soon.