Atlantic City casinos launched online gambling this week with hopes of revival for the struggling industry, but three weeks ago, Peter Carlino, a veteran gambling executive, said the city was done as a top-notch destination.
This is how CNBC reported Carlino's remarks on Atlantic City:
On the U.S. market, Carlino said Atlantic City was "O-V-E-R" in terms of its ability to compete as a marquee gaming destination.
"Atlantic City is a tragedy from a lot of points of view," said Carlino, who is not involved in the market.
"They had a 100-year head start with a pile of cash. ... Atlantic City could have and should have been Cannes; and I'm not joking. It could have been the finest city, like the French Riviera."
Instead, Carlino said: "They still have street people pushing carts down the street, and worse, in that town. They did nothing with what they had, nothing."
Read the full CNBC report on the Nov. 8 speech at the Baron Investment Conference here.