Atlantic City Casinos Suffer Post-Sandy
Atlantic City’s casinos are struggling to deal with the aftermath of Superstorm Sandy by laying off workers, cutting back the hours of others, and making still others take unpaid leaves.
The city’s 12 casinos had to close due to the storm for between 5 to 7 days in late October and early November. Even after they reopened, business has slowed considerably.
The Atlantic Club laid off 80 workers to deal with the downturn. The two Trump casinos are making salaried workers take a week of unpaid time off, and barring hourly workers from using vacation days for time they were off during the storm.
A Wall Street analyst predicts Atlantic City casino revenue could be down 25 percent for the next six months and earnings down 40 to 50 percent.
Copyright 2012 The Associated Press.