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Having lost five of its 12 casinos over the past four years, Atlantic City will mark its 40th anniversary of casino gambling by reopening two of those shuttered properties, despite concern in some quarters that it might be repeating the same mistakes that got it into trouble in the first place. The reopening this summer of the former Trump Taj Mahal as a Hard Rock casino, and the former Revel as the Ocean Resort Casino, is being hailed in this seaside gambling resort as a welcome recovery from the trauma of 2014, when four casinos shut down. The party line in Atlantic City is that the reopened casinos – particularly Hard Rock, with its proven worldwide ability to attract guests with its music-themed resorts – will grow the market and not simply siphon off business from weaker competitors. That's exactly what Revel's managers said – and that casino lasted barely over two years.Wall Street analysts predict the two new additions will cannibalize some existing casinos' profits. They believe Hard Rock will bring new customers to Atlantic City, while expressing caution about Ocean Resort.Thomas Reeg, president of Eldorado Resorts, upon buying Tropicana Entertainment last month, said he expects its Atlantic City property to do less business once Hard Rock and Ocean Resort open.
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