Past Mistakes Weighing On Atlantic City Recovery

New Jersey’s history of “stupid" government decisions could undermine hopes for an Atlantic City comeback as the seaside gambling resort struggles to pull out of deep downturn, a veteran Wall Street gaming analyst warns.While state and Atlantic City officials are looking at ways to help revive the beleaguered gambling powerhouse, the effort is at crosscurrents with other proposals that could devastate what is still the East Coast’s gambling capital.

Intermittent smoking ban proposals and a long-standing push by some state lawmakers to legalise racetrack video slots are likely to give some investors second thoughts about pumping more money into Atlantic City, contends Larry Klatzkin, managing director of Chapdelaine Credit Partners.

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