The owners of the Trump Plaza Casino asserted that they will most likely close on September 16, according to ABC News on Saturday. Trump Entertainment Resorts says there has been no final decision made, but it looks as though the Boardwalk casino in Atlantic City will be history in a couple of months. This will have an extremely negative effect on the region known for casinos as well as the employees who will find themselves out of a job very soon.
On Monday, more than 1,000 of the casino’s employees will receive warning notices. Those notices have the purpose of warning the employees that the casino’s doors will likely be shut soon. Should the Trump Plaza close its doors, it means that Atlantic City may lose as much as a third of its casinos. Additionally, it will equate to a loss of one-quarter of Atlantic City’s casino workers in under a nine-month period of time.
This closing will follow the Atlantic Club which happened in January. Also, the Showboat is scheduled to close in August. If a buyer isn’t found in bankruptcy for the Revel casino, it might be closing as well.
Alternatives for the Trump Entertainment Resorts are being reviewed by the firm’s managers and the board of directors. The statement from the firm says that the review continues and no final decision has been cast. However, it is expected by those in authority that Trump Plaza Hotel and Casino will terminate its operations on Sept. 16 or shortly thereafter.
It has been reported that Trump Entertainment Resorts has hired a search firm to find buyers for Trump Plaza. However, the effort has produced no buyers. The effort to find a buyer continues. A local union president, Bob McDevitt says that as many as 7,000 casino workers have now been warned that their jobs could be terminated within the next two months. Beyond the employees being let go, the casino closings are a negative for the state of New Jersey regarding revenue, according to Fox News.
Donald Trump said that he let them use his name. But, basically, he said he has nothing to do with it. Trump went on to say that Atlantic City has suffered for years and many tremendous mistakes were made by government. Those mistakes included no reinvestment in the town. He asserts that the casino revenue was taken and used in places that had nothing to do with Atlantic City. Trump got out of Atlantic City seven years ago and calls his timing of his departure to be “tremendous.” Analysts of the gaming industry have warned for a long time that the casino industry has been oversaturated in the Northeastern portion of the United States.