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The grim warning for the gambling industry in Atlantic City's implosion
The grim warning for the gambling industry in Atlantic City's implosion

The news from the casino industry in Atlantic City, N.J., has been implacably, relentlessly horrific. Over the weekend the owners of Trump Plaza, formerly a signature property on the boardwalk, said they expected it to close in September; the resort's founder and namesake, Donald Trump, couldn't run from the wreckage fast enough: "I got out seven years ago; my timing was tremendous," he said, or bragged, or whatever it is he does when his lips are moving. (Trump still owned 9.8% of the ownership company as of February 2013, according to public filings.)  Meanwhile, the Revel Casino, a $2.4-billion tower that was supposed to herald yet another rebirth of...

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