Atlantic City’s Credit Rating Cut Two Steps to Junk by Moody’s

That's the city, not the casinos. That's the main headline at Drudge Report. Wow, sad.

http://www.bloomberg.com/news/2014-07-23/atlantic-city-s-credit-rating-cut-two-steps-to-junk-by-moody-s.html

."..... .... Atlantic City lost its regional monopoly as states including Pennsylvania, Maryland and New York legalized casinos or expanded betting to increase tax revenue. Casino revenue in the city has dropped for seven straight years, falling to $2.86 billion last year from a high of $5.07 billion in 2006, according to Bloomberg Industries. .. .........."

Robert