His company is one of the bidders for the new casino license, though. Jim Allen, the chairman of the Hard Rock casino, entertainment, and hospitality company, thinks that at least one of the casinos would be closed because of the New York casinos. It can even lead to casino closures, as the panelists think. Panelists at the casino industry conference expressed their concerns and stated that the new casinos could negatively affect the Atlantic City casinos, causing 20% to 30% lesser revenue. Three new casinos in New York, which are planned to be built, could cause significant problems for Atlantic City casinos.
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