Last call for Atlantic City’s casinos
Atlantic City’s casinos have been losing their glitz and gambling dollars to the more than 40 new rivals that have opened in neighboring states, with gaming revenue nearly halving from its 2006 peak of $5.2 billion.
Three of the 12 casinos in the city have closed this year, and a fourth, one of the Trump Entertainment properties, closed its doors Sept. 16.
Trump Entertainment, which Donald Trump founded but no longer controls, operates the Trump Taj Mahal Casino Resort and the Trump Plaza Hotel and Casino in Atlantic City, the second-largest U.S. gambling destination after Las Vegas.
Like much of Atlantic City, the two Trump properties have suffered from a decline in gambling revenue and falling occupancy at their hotel rooms.
Donald Trump sued Trump Entertainment last month to have his name taken off the two casinos, saying the company let the casinos fall into “an utter state of disrepair.”
Showboat, a Caesars Entertainment Corp property, and Revel Casino closed recently, while Trump Plaza Hotel and Casino closed Sept. 16.
Revel, a $2.4 billion casino, was hailed by New Jersey Governor Chris Christie as a model for reviving the city when it opened in 2012 but filed for bankruptcy twice in two years.