Vegas needs a competitor. Atlantic City would be good but they need to fix the place up. It's a dump. But the potential is there.
If they clean it up and they market themselves as the "affordable option" to Vegas, they would be in a great position to make a comeback.
What really killed Atlantic City was Foxwoods and Mohegan Sun in CT.
Those two casinos are nice, clean, safe, great golf courses and good entertainment. Plus they are an easy drive up 95 from NYC. As opposed to AC that is a DUMP and you are risking your life if you step off of Boardwalk.
The ironic part is that the southern part of the Atlantic city strip (technically Ventnor city) is VERY nice. However, it mostly residential. It does not have big casinos and urban decay.