Trump Plaza, Atlantic City: Casino Expected to Be the Next to Close
Trump Plaza could be the next casino to close in Atlantic City as the area continues to struggle.
No decision has been made yet on the fate of the casino, but Trump Entertainment told The Associated Press that they expect to close Sept. 16.
This is just one of the casinos to fall in recent times in Atlantic City. If the Trump Plaza closes, the city could end up losing one third of its casinos and a quarter of its casino workers in less than nine months.
Other casino closures have been the Atlantic Club in January, the Showboat (next month) and Revel could be closing because of bankruptcy.
Trump Entertainment told the AP that they were "reviewing alternatives for the property." They added that the decision isn't final, but they expect to "terminate operations of Trump Plaza Hotel and Casino on or shortly after Sept. 16, 2014."
No buyers have come forward as Trump looks for potential buyers of the casino, according to an unnamed source.
Atlantic City used to be second in the gambling market to Nevada but has faced closures and financial difficulties in recent years. Pennsylvania is now the second-largest gambling market behind Nevada.
Analysts believe that the closure of casinos in the area is needed because of oversaturation.
At the beginning of 2014, Atlantic City had 12 casinos. If the closure of the Trump Plaza and others occur, there could be only eight casinos by September.
The impact on jobs is hefty when these casinos close. The Atlantic Club had 1,600 workers that all lost their jobs because of its closure, and 2,100 will lose their jobs when the Showboat closes. When Trump Plaza closes, 1,009 are expected to lose their jobs.
Even though the Trump Plaza has a prime location in Atlantic City, it is the poorest performing casino in the city.
If the Trump Plaza closes, Trump Entertainment will operate only one casino, the Trump Taj Mahal Casino Resort, in Atlantic City.
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