Fourth land casino in the gambling enclave to fail this year
Atlantic City's woes were highlighted again Tuesday with the news that Trump Plaza has closed its doors for the last time, a victim of declining business in the gambling enclave due to regional competition and economic hard times.
Associated Press reports that the demise of the casino has been clear for some time, pointing out that despite its prime location at the heart of the Boardwalk and the end of the Atlantic City Expressway, gamblers have been abandoning Trump Plaza for newer, ritzier casinos for years.
Its owners, Trump Entertainment Resorts, let it deteriorate in recent years, particularly after a sale for the bargain-basement price of $20 million to a California firm fell through last year. Guest services and the general presentation of the hotel have been in decline for several years as a result of cost-cutting, discouraging guests from returning.
Air conditioning complaints, along with bar and restaurant closures and the deteriorating external appearance of the property did nothing to improve the situation.
The end result was declining gambling business, too; so far this year, Trump Plaza has won just $36.8 million from gamblers… down 31.5 percent from the same period last year.
"Atlantic City began the year with 12 casinos; by breakfast time Tuesday, it will have eight," AP reports, adding that there may be more bad news in store with Trump Entertainment threatening to close its sole remaining casino, the Trump Taj Mahal, on November 13 if it can't negotiate significant concessions from its unions, including having workers give up their health insurance and pensions.
Online Casino News Courtesy of Infopowa