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() Highlights:
The famous Aqueduct race track in Queens, NY, once facing an uncertain future, now possesses the most profitable casino in the United States.From June 2012 to June 2013, Aqueduct matched a quarter of Atlantic City's total gaming revenue from its dozen casinos: $729.2 million compared with A.C.'s $2.9 billion. It has taken an estimated 15 percent hit on New Jersey casino revenue and climbing.
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And now it looks like the feds may soon allow online gambling across the United States.
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With this in mind, it seems the niche that Las Vegas and Atlantic City once offered as a gambling and entertainment hub is heading toward the dustbin of history.
Time will tell if these two cities will end up like Detroit. However, the fact that they are losing their biggest industries to major competition, much like Detroit did, with depressed housing, casinos bankrupting/closing and businesses fleeing, makes their fate seem eerily similar.
Robt.
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