The initiative would have ended Atlantic City’s 40-year monopoly on state gambling and left it a burned-out shell. Casino failure in a saturated marketplace has cost Atlantic City 11,000 jobs — 3,000 of them last month after the closing of the Taj Mahal, which was built by Mr. Trump. Mr. Trump, the self-proclaimed business genius, had to resort to four bankruptcies for his two casinos. The city now will be subject to a state financial control board with broad authority over the mayor and the City Council. His chances for a ranking federal post are considered tarnished by Bridgegate, despite his slavish devotion to Mr. Trump.

Source: New York Times November 14, 2016 08:21 UTC