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Atlantic City turnaround team bets on cuts not bankruptcy
Reuters: A turnaround team tasked with reviving Atlantic City says New Jersey's struggling gambling hub must consider cost cuts, layoffs and longer bond maturities, but bankruptcy is not in the cards - yet.
"Bankruptcy is not something that we are contemplating," said emergency manager Kevin Lavin on a conference call on Tuesday. "We think that this process can be done without that necessity."
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