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Post-Trump Atlantic City In Pretty Bad Way Right Now

Bankruptcy could happen in weeks.
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Where have you gone, Don?

President Trump couldn’t save it. Morgan Stanley couldn’t save it. Future Treasury Sec. Carl Icahn couldn’t save it. Future Vice President or Attorney General Chris Christie refused to save it. Will the New Jersey state legislature be the next step towards Atlantic City’s inevitable decline into the most spectacular seaside ruin in world history?

The agency, Moody’s Investors Service, said in an analysis that the city would run out of money in the next few weeks, which could lead to bankruptcy, if two measures are not approved by lawmakers….

“No matter which scenario ultimately occurs,” Moody’s said in a statement, “Atlantic City’s financial position remains vulnerable to external factors such as further casino closures and deteriorating state finances.”

Atlantic City Could Default in Weeks, Ratings Agency Says [NYT]


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