Has Obama economy destroyed Atlantic City gambling?

Remember NJ Gov. Chris Christie all but destroyed his political future by hobnobbing to help Obama in NJ, pre-election, 2012.

The media is blaming competition, but maybe it's the Garden State's penchant for high taxes and liberalism. And the miserable Obama economy.

Atlantic City’s Credit Rating Cut Two Steps to Junk by Moody’s, according to Bloomberg Business.  Atlantic City, New Jersey, the gambling hub that’s been pummeled by regional competition in the U.S. Northeast, had its credit rating cut two levels to speculative grade by Moody’s Investors Service.

And Democrat politicians, who also want pot to fund education, want to bring Atlantic City type gambling to South Carolina's Grand Strand.