New casinos to transform Atlantic City
ATLANTIC CITY — Five years from now, you might not even recognize this place. A burst of new, luxurious mega-casino projects to be built by 2012 will transform the face of Atlantic City into a more futuristic — and crowded — gambling resort.
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Do you know that:
- Las Vegas is a testament of the powerful ability of gambling to foster economic development. Because of gambling, Las Vegas has shown impressive job growth, developed into a major city with a low tax burden that many state and local governments look at with envy.
- 1926: Las Vegas gets a regular air service. Western Air Express flies between Las Vegas and Salt Lake City. The airfield later becomes the site for the famous Sahara and Hilton hotels.
1931: Gambling is legalized in Nevada on March 19. Construction begins on the long awaited Hoover Dam. - As early as 1420, lotteries were used in Europe for public works. High-value commodities such as land and art were often sold through lotteries.
- Parimutuel wagering refers to the type of gambling where the total prize pool is based upon the amount of money wagered. The more money gambled, the bigger the prize.
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