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Atlantic City finances brought under state control in bid to avoid bankruptcy

27th January 2016 12:39 pm GMT

New Jersey’s state government is to take control of Atlantic City’s finances in a bid to help the gambling destination avoid bankruptcy as it struggles with a structural deficit of more than $100m.

The measure was announced yesterday by New Jersey governor and presidential candidate Chris Christie, who explained that Atlantic City was suffering from the decline of its casino industry. The city once hosted twelve casinos, with this number falling to [...]

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