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Panelists: New York casinos could see Atlantic City closures
Panelists at a major casino industry conference said the construction of three new casinos in New York could cost Atlantic City 20% to 30% of its casino revenue, a development that could possibly return the resort to the days of casino closures. While not predicting that it will definitely happen, Jim Allen, chairman of the global Hard Rock casino, entertainment and hospitality company, on Thursday said that such a revenue drop could lead at least one Atlantic City casino to close. Hard Rock, which owns a casino in Atlantic City, is among the bidders for a New York casino.