According to a recent New York Times article ... that is the assessment of at least one observer.

A.C. isn't alone, suffering in the current economic climate. Vegas is having it's share of problems as well, with several building projects being cancelled and downturns in their bottom lines, which is also covered in the article.

http://www.nytimes.com/2009/10/25/business/economy/25casino.html?_r=1&emc=eta1