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Atlantic City Doomed by Casinos Closings

Gambling chips from four Atlantic City N.J. casinos that have either already gone out of business this year, or could do so by September.

Atlantic City Doomed by Casinos Closings

The rapid disintegration of Atlantic City's casino market might be an early indicator of what could happen in other parts of the country that have too many casinos and not enough gamblers.

In the 36th year of casino gambling in New Jersey, which not too long ago had a monopoly on the East Coast, the casino industry is crashing with a suddenness and a fury that has caught many people here by surprise. It started the year with 12 casinos; by mid-September, it could have eight.

The Atlantic Club shut down in January, taken down by two rivals, stripped for parts and closed in the name of reducing competition, eliminating 1,600 jobs.