Owners of Trump Plaza Casino Expect It Will Close

MULTIZ321 · Jul 12, 2014

Owners of Trump Plaza Casino Expect It Will Close - by Wayne Parry/ Yahoo!News/ Yahoo.com

"ATLANTIC CITY, N.J. (AP) — Atlantic City's crumbling casino market disintegrated even further Saturday as the owners of the Trump Plaza casino said they expect to shut down in mid-September...."

Richard

pedro47 · Jul 12, 2014

There are so many casinos now on east coast. Atlantic City is going to have a hard time in the gaming industry in the years to come. There are casinos in every state from North Carolina to New Jersey with the only exception is the Commonwealth of Virginia.

Miss Marty · Jul 12, 2014

Atlantic City Casinos

The Atlantic Club Casino Hotel closed in January 2014, a victim of the casino saturation taking place in the Northeast. About 1,600 people lost their jobs, as the 33-year-old casino shut its doors.

The Atlantic Club had sought a buyer for years but was unable to attract one. It filed for bankruptcy in November and was sold for a combined $23.4 million just before Christmas to two competitors who will strip it for parts.

Tropicana Entertainment bought the table games, slot machines, and customer lists, while Caesars Entertainment bought the 801-room hotel, for which it has no immediate plans.

The Atlantic Club opened in December 1980 as the Golden Nugget, owned by casino magnate Steve Wynn.

The casino changed hands several times and went through a handful of names: The Grand, Bally's Grand, the Atlantic City Hilton, ACH, and finally the Atlantic Club.

It lost market share to its local competitors, and its decline was hastened when the first Pennsylvania casino opened in 2006.

"The Atlantic Club's casino may be the first, but not the last."

Miss Marty · Jul 12, 2014

Another Atlantic City Casino Closing

The Showboat Hotel and Casino

The parent company announced in June that, although still profitable;
the company has scheduled to close The Showboat Hotel and Casino effective August 31, 2014

The company doesn't yet know what will happen to the Showboat's land and buildings, including a 20-story hotel tower above the casino.

Miss Marty · Jul 12, 2014

Atlantic City Casino Closings

How do you think these casino closings will effect nearby timeshares

Wyndham Skyline Tower 100 S. North Carolina Ave, Atlantic City, NJ
and the Marriott Fairway Villas nr Absecon on Route 9, Galloway, NJ?

LisaRex · Jul 13, 2014

20 years ago, Atlantic City was in decline. The casino section was okay, but once you got past that, it was like being in any other crumbling downtown. I can't imagine that the closing of these casinos can be anything but bad news for the already struggling town.

Being on the ocean may be its saving grace if it can capitalize on that feature.

Dori · Jul 13, 2014

From what I saw on our one and only visit to Atlantic City, the casinos made a grave error in not investing in the surrounding parts of the city. One block away from the Boardwalk, and the surroundings seemed very sketchy. I feel very sorry for all of the casino employees who will lose their livelihood.

Dori

vacationhopeful · Jul 13, 2014

I am sure a BIG play for state money is being made to Governor Christie ...

And yes, the casino redevelopment money seem to be sent far, far away from the regional area between 'off beach' block to the back bay. But ANY redevelopment work would have involved multiple BLOCKS condemned for such work and the local elected officials would want to make sure those voters were HAPPY and stilling voting in Atlantic City. To attract any commercial base outside of a casino building, you have to have vacationers who WANT to stay in their condos, walk to the beach during the day & take their families (kids included) to entertainment & decent dining in the evening.

And that is why the various smaller shore towns STILL have piers of shore rides, ball & ring throws, miniature golf, cotton candy & hot dogs - esp in the evenings.

And you have to spend BIG to change the current Atlantic City - both the physical structures, security, image to bring about a change.

AnnaS · Jul 20, 2014

They need to bring more entertainment/big names - other vacation destination ideas and clean up/invest in the surrounding areas. Not sure this will happen.

They need to bring both gambling/non-gambling people.

bogey21 · Jul 20, 2014

Dori said:
....the casinos made a grave error in not investing in the surrounding parts of the city. One block away from the Boardwalk, and the surroundings seemed very sketchy.

You are 100% correct. I grew up in the area. If the State had pushed relentless redevelopment from the boardwalk out with their share of casino revenue, Atlantic City could have been saved. Who knows where the money went but it clearly wasn't used to rehab Atlantic City.

George

George

pedro47 · Jul 20, 2014

bogey21 said:
You are 100% correct. I grew up in the area. If the State had pushed relentless redevelopment from the boardwalk out with their share of casino revenue, Atlantic City could have been saved. Who knows where the money went but it clearly wasn't used to rehab Atlantic City.

George

George

I agree with you. One of the reasons we will not travel to AC is because we do not feel safe one block off the strip. So we go to Vegas every other year.

I do not feel sorry for Trump. I do feel sorry for all the employees who will be laid off with no jobs for the future in the area.

AnnaS · Jul 20, 2014

I don't think Trump owns it anymore.

MULTIZ321 · Aug 10, 2014

The Casino Curse

A Good Way to Wreck a Local Economy: Build Casinos - by David Frum/ Business/ The Atlantic.com

"No one should look to the gambling industry to revive cities, “because that’s not what casinos do.” ..."

Steve Marcus/Reuters

Richard

ricoba · Aug 10, 2014

MULTIZ321 said:
A Good Way to Wreck a Local Economy: Build Casinos - by David Frum/ Business/ The Atlantic.com

"No one should look to the gambling industry to revive cities, “because that’s not what casinos do.” ..."

Steve Marcus/Reuters

Richard

Good article.

While casino's do continue to be a major driver in the Nevada economy, more and more the revenue is coming from entertainment, dining and nightclubs and less from the gaming end of the business. This is particularly true in Vegas, where the city continues to nimbly re-invent itself all the time to meet changing trends.

Cities and governments that have bought into the idea that a casino will save their economy will be surprised eventually, just as they are being surprised now in Atlantic City.

twinmommy19 · Aug 11, 2014

How do you think these casino closings will effect nearby timeshares

Wyndham Skyline Tower 100 S. North Carolina Ave, Atlantic City, NJ
and the Marriott Fairway Villas nr Absecon on Route 9, Galloway, NJ?

I don't think it will have much impact at all. There are plenty of other casinos and the ones closing aren't the nicest ones.

Sportsbook would really help this area if NJ ever gets it.

Miss Marty · Aug 14, 2014

Revel Resort 500 Boardwalk Atlantic City New Jersey

Atlantic City's Revel Casino Hotel will close its doors
and lay off all employees no later than Sept. 10, 2014

Dori · Aug 14, 2014

Sounds like the Boardwalk will turn into a boarded-up, rundown area, much like what we experienced on the main street of Reno a few years ago. With the closure of so many of their casinos, it was a depressing area, with so many homeless people.

Dori

MULTIZ321 · Aug 17, 2014

Chips are Down for Atlantic City's Hard-Luck Revel Casino - by Daniel Kelley and Hillary Russ/ U.S./ Reuters.com

"When the $2.4 billion Revel Casino opened its doors in 2012, the curvy blue-glass tower was hailed as the wave of the future for Atlantic City, New Jersey.

But only two years later, with the announcement that it will close next month while in bankruptcy for the second time, the gleaming, 52-story gambling palace is looking very much like a white elephant stranded on Atlantic City's beachfront..."

A view from the boardwalk of several casinos in Atlantic City, New Jersey, in this March 14, 2009 file photo.
Credit: Reuters/Tim Shaffer/Files

Richard

vacationhopeful · Aug 17, 2014

The Revel is the FAR, FAR way PAST all the gleaning lights to the RIGHT of that photo ... Yes, this photo was taken before the Revel casino opened .. but the location is a long Boardwalk walk - cold with the wind off the ocean in the winter; hot under the summer sun.

The RESORTs Casino shares the stub street (North Carolina Ave) with the Wyndham Skyline Towers -- same "beach" block. So in the photo here Skyline Towers is off the LEFT CENTER margin.... NOT SHOWN. Easy walk to the beach. A short run across the street to Resorts.

MULTIZ321 · Sep 1, 2014

Revel Becomes Latest Atlantic City Casino, Hotel to Go Bust - from Associated Press/ FoxNews.com

"ATLANTIC CITY, N.J. – The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling began to play out Monday when the $2.4 billion Revel Casino Hotel emptied its hotel.

Its casino will close early Tuesday morning..."

More info on the closing.

FILE - In this July 23, 2014, file photo, people stand on a high deck at Revel Casino Hotel in Atlantic City, N.J. (AP Photo/Mel Evans, File)

Richard

MULTIZ321 · Sep 1, 2014

Showboat Closes After 27 Years in Atlantic City- from Associated Press/ Regions/ FoxNews.com

"ATLANTIC CITY, N.J. – The show is over for the Showboat Casino Hotel.

The Mardi Gras-themed casino shut down Sunday after 27 years on the Atlantic City Boardwalk. It was one of three casinos closing within the next two weeks as Atlantic City deals with the impact of increasing competition from casinos in neighboring states. Revel will begin a two-day closing Monday, and Trump Plaza is closing Sept. 16.

One of the final songs piped in over the Showboat's loudspeakers: Queen's "Another One Bites The Dust."..."

Aug 31, 2014: Revel Casino and Hotel, left, is seen near Showboat, the Mardi Gras-themed casino that shut down after 27 years on the Boardwalk in Atlantic City, N.J.AP

Richard

Bunk · Sep 1, 2014

It will be interesting to see how NJ Government will handle a new push to open casinos by the Meadowlands.

http://www.nj.com/news/index.ssf/20...asino_how_about_four_business_group_says.html

There are two competing interests in play. On the one hand, the State Constitution restricts casinos to Atlantic City, and allowing casinos to open up elsewhere will hurt Atlantic City even more. On the other hand, politicians love to spend other people's money, and casinos in the Meadowlands will give them more cash to play with.

MULTIZ321 · Sep 14, 2014

Miss America to be Crowned Sunday in Stressed Atlantic City, N.J. - by Sean Landis/ reuters.com

"The winner of the 2015 Miss America Pageant will be crowned on Sunday night in Atlantic City, and the wearer's glittering tiara will stand in contrast to the tarnished fortunes of this New Jersey beach town where yet another casino is slated to close this week..."

Contestants sport swimsuits during the second preliminary night of the 2015 Miss America Competition in Atlantic City, New Jersey September 10, 2014.
Credit: Reuters/Adrees Latif

Richard

NHTraveler · Sep 14, 2014

Yet another casino to close

Looks like Trump Taj Mahal will close in November...

http://www.northjersey.com/news/tru...ng-atlantic-city-casinos-owners-say-1.1081902

am1 · Sep 15, 2014

The Taj was my favorite on the Boardwalk.

Owners of Trump Plaza Casino Expect It Will Close

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