Skip to comments.Trump Plaza set to close in Sept.
Posted on 07/12/2014 1:53:37 PM PDT by dynachrome
ATLANTIC CITY - The list of casinos closing or expected to close here just keeps growing. Trump Plaza Hotel & Casino will likely shut its doors for good in mid-September.
Trump Entertainment Resorts told The Associated Press that it expects the casino to close its doors Sept. 16. No final decision has been made, the company said, but it expects that it will terminate the operations of Trump Plaza Hotel and Casino on or shortly after September 16, 2014.
(Excerpt) Read more at philly.com ...
Is he moving to Tunica or Biloxi?
That's an inference on your part.
The new incompetent media can no longer be trusted to try to answer the fundamental question of all news stories : Why?
Maybe it’s a combination of too many casinos per square mile all vying for the same small group of monied tourists. In addition, there may be a lot of online gambling for those who don’t want to stand next to strangers all afternoon in questionable neighborhoods. In addition to that, Obama’s non-recovery recovery in combination with Obamacare rules has skimmed away many people who used to work full time. Less cross country business travelers, because Skype is now available.
Trump is a victim of not just the brutal Obama economy, but a victim of the brutal vengeance of Obama’s retribution for Donald’s calling attention to the fake birth certificate.
so now maybe Atlantic City will relapse back to the dump it was before gambling came to save it
Once there was only Vegas. Then there was Vegas and Atlantic City. Now, here in the Buffalo area alone we have 4, not counting the one across the border in Niagara Falls, Ontario. The gambling pie can only be sliced up so thin.
It never stopped being a dump...
As much as I find the new synthetic “Disney with slots” Las Vegas annoying and even kind of pathetic, you’ve got to admit that reinvention has worked, and quite possibly saved the city as a tourist destination. With Indian casinos everywhere “come across country to gamble here” is simply not a compelling narrative anymore, and Atlantic City hasn’t found anything else to advertise.
Indian casinos ops having any effect, by chance?
Trump is the victim of never actually being as good as his self imposed reputation. The guy’s gone bankrupt more often than most welfare queens.
Pennsylvania is killing Atlantic City. Atlantic city has the better Casinos but it’s much safer in Pennsylvania.
Gambling’s a tax on stupidity. I’d suspect that all the local stupids are happy to lose locally. Why waste any gambling money on travel and a hotel?
list of casinos closing
housing for Obama’s Bambinos
‘The new incompetent media can no longer be trusted to try to answer the fundamental question of all news stories : Why?’
I’ll take a shot!
Six years of financial ruin with ZERO new jobs and 20% + real unemployment with no end In site coupled with massive increased competition causes vacation spots dedicated to wasting money up the creek. So to speak.
How did I do?
Trump only let the entertainment group use his name. It is not owned by Trump!
After the casino come tour Soweto across that street!
Can't New Jersey do anything right?
What an awful - and plausible - idea.
Unions probably didn’t help either.
Do they ever?
Not only what you said, but every local government salivates over gambling. They get their cut off the top with minimal collection efforts. Gambling is sold as a way to spur development, but, as Atlantic City as exhibit A, this is just a crock of shiite.
Obamacare meaning less disposable income for such entertainment.
“Six years of financial ruin with ZERO new jobs and 20% + real unemployment with no end In site coupled with massive increased competition causes vacation spots dedicated to wasting money up the creek. So to speak.
How did I do?”
Very good; these casinos have been hurting for years. The discretionary dollars that people used to piss away are gone. People I know in north Jersey go to Pennsylvania now; it is half the mileage and cleaner. Then they have gone back to Atlantic City they’ve been struck by how empty it was.
I’m about equidistant between Atlantic City and the Connecticut casinos near Mystic; I definitely prefer the environment in Mystic.
I think the idea of putting all the illegal alien invaders in these closing casinos/hotels and have the LIBs volunteer to take care of them Problem solved. You could even have the corpulent gov of NJ, crispi creme, hug them.
America gambled on voting for Bammy and the economy lost but like good addicts they will vote again for their rotgut Dems and then blame the rich for their troubles.. Atlantic Chitty did ok when Booooooooooooosh was the Pres....
How NJ squanders the gift of 180 miles of coastline is beyond me.
I spend time on both coasts. In Southern California you have great public beaches and towns, i.e. Santa Barbara, Manhattan Beach, Malibu, Newport, Laguna, Dana Point.
In NJ, well Belmar is nice, Asbury Park is OK. Cape May is pleasant but remote. Not much there except opportunity.
Another vacant building for obozo to move the CHILDREN into that are crossing the border illegally.
Should have read all posts before posting...
then there's Mohegan Sun which attracts many New Yorkers and many many New Englanders, Foxwoods, now there are casinos in Maine. You've made a very good point. Once there was ONLY Vegas... then there was Vegas and Atlantic City...
Not to mention he was a Tea Party candidate in the 2012 primaries.
(1) People are less than 50 miles from a Casino wherever they are
(2) Nobody has money to gamble
There is a new casino five miles away from my home right Downtown. Opened a couple years ago. Never been there.
Been to Trump Plaza many times. Looked nasty and cheap.
Probably suffered my being in Vegas too many times.
Can’t think of a place I’d go back to Atlantic City. If they don’t look tacky they just look uninteresting.
A well known financial analyst on the radio hit exactly your main points, so kudos on being so astute! Further, the analyst speculated that people’s discretionary cash is mostly going for increased health insurance rates.
The trip into AC is miserable as you drive through the slums, which has always been a factor. Apparently AC has never been as popular as people nostalgically remember, even in the Steel Pier days, because of the destitution that surrounds it.
The property itself may be underwater (figuratively). Trump knew this was a long shot when he bought the unfinished Mirage casino for $4B from Merv Griffin many years ago, which I think is the place that’s going under now. There’s no way that mortgage could have been serviced in the hard times we’re now experiencing.
Indian casinos are another big factor. Over-confidence on the part of the flashy Revel complex is another. One must also wonder whether the mob has moved their financial interests away from the city, as well, leaving less payola and walking-around money for AC to put a fig leaf over their other problems.
Finally, people just aren’t gambling as much. NJ recently legalized online gambling, and that’s only generating about 10% of what they anticipated. Maybe people are smarter than they counted on, and gambling isn’t nearly the addiction that the state thought it would be.
Same for medical marijuana — that isn’t working out well for NJ either. Hardly anybody is signing up, and the left is fabricating all kinds of excuses. They had to push it through, just like legalized gambling. But the majority of state residents never bought into it, just like they never fell for the line about “revitalizing” Atlantic City when everybody knows it’s permanently blighted.
Give the people what they want, not what they don’t.
Whenever I hear of a locality resorting to gambling to "spur development" I always think of Pottersville in It's a Wonderful Life.
“As much as I find the new synthetic Disney with slots Las Vegas annoying and even kind of pathetic, youve got to admit that reinvention has worked, and quite possibly saved the city as a tourist destination.”
Vegas just keeps on morphing. From the late 90s through the GWB years, it was disney with slots.
Nowadays, slots are far from the biggest draw in Vegas. Instead, it’s the nightclubs and the newest invention, the dayclubs.
Younger visitors go to Vegas mainly to spend insane amounts of money to party, and less of it to gamble.
Reinvention is why Vegas continues to thrive.
Too bad they tore down the Blenheim. I use to love looking at it. I saw the last of the Diving horses on the pier in ‘76. Gambling is everywhere, nobody needs to travel far to find it... Haven’t been to a Casino in decades. Even when I’d make the occasional trip I didn’t like them. $60 limit for me back then...I work too hard to throw it away.
“I think the idea of putting all the illegal alien invaders in these closing casinos/hotels and have the LIBs volunteer to take care of them Problem solved. You could even have the corpulent gov of NJ, crispi creme, hug them.”
NJ is basically a “sanctuary state” already because of the taxpayer exodus; I think they’d re-settle them up here in the north of the state, though. The cost of living has driven out a lot of people; lots of vacant businesses and foreclosed homes. The biggest disgrace in Atlantic City was the number of employees bused from Philly; the gibsmedats in AC didn’t work in the casinos.
“There is a new casino five miles away from my home right Downtown. Opened a couple years ago. Never been there.”
At this point they are more of a sign of desperation than prosperity; they are looking at locations in northern NJ and right across the border in NY as a means of rehabilitating economically depressed areas, but in this stagnant economy it would do nothing. In good times the benefits are questionable enough...
I haven’t been in a casino in years; I used to go occasionally before I had kids and a mortgage.
They really make an effort to steer you clear of the ghetto, but you still see the decay.
I think the unreported inflation is easting people’s income up as well; I can;t wait to see higher healthcare costs in the news, but I’m not holding my breath. The end (nationalized healthcare) justifies the misinformation campaign (the means).
The “revitalization” campaign worked in the sense that in a state like NJ, all municipal services are paid out of local property taxes, and the casinos simply pick up the tab for everything. I remember seeing a high school in Atlantic City that was state-of-the-art; the fact that nobody was learning anything was completely secondary - the public employees were getting paid. When the state ran out of money a few years ago to make up local shortfalls, Newark NJ laid off 160 cops; they didn’t have a sugar daddy to pay their bills (and are already bleeding businesses).
At this point the welfare hives in NJ need funding; even if they opened massive opium dens or slave marketplaces, it would be tolerated as long as they paid property taxes.
“Now, here in the Buffalo area alone we have 4, not counting the one across the border in Niagara Falls, Ontario. The gambling pie can only be sliced up so thin.”
I remember the first time I saw the one in Niagara Falls Ontario, and being shocked at how many gibsmedats were in there. I told my wife at the time that there would very shortly be casinos on the American side; there was no way NY state (or the federal government, for that matter) would tolerate so much public assistance being spent within sight of the US. The casino ruined Niagara Falls Ontario; it changed the character of a place that had tourism nearly year-round, and killed many local small businesses. I was there last year, and didn’t enjoy it nearly as much as past trips; the exchange rate didn’t help, either.
In Illinois they’re so greedy they designed it so that bar owners could only “rent” a machine from a shady group. The cut is 35% of the losses to the bar owner, 5% to the locality, 25% to the state of Illinois and 35% to the “machine operators owners group”. Each machine only costs about 10 - 20K and each one is expected to net about that a year. Some payback, eh?
Funny thing is they got so greedy that a lot of towns are looking at the paltry 5% and saying “no” to gambling. The insiders were shocked.
We were just there this week (not the Trump Plaza, but AC)
I expected AC to be sleazy, but it was beyond the pale sleazy. And I say that as one who has lived in the DC/Baltimore area for the last 15 years and who isn't easily scared or put off by sleaze.
In fact, I would go so far as to say that AC, in general, has any area in the DC metro (including the Anacostia area) beat. It even has any area in Baltimore beat (including Lexington/Seton or Poppelton)
But that's not why I feel compelled to post. The reason why I feel obliged to post is because of the danged taxes. We were looking at staying at a resort hotel in the city (disregarding everything else), but the taxes added up to almost 50% of the room charge. I know that municipalities charge extra for tourists, but it's only 15-25% added to the room. 50%?????
I balked at that (and we found a really nice place in Egg Harbor Township (who only, btw, charged a 10% room tax).
Anyway, we arrived in town and were utterly disgusted. Our expectations were not high, but they bottomed even our low expecations. Even the casinos were not well kept.
So I ask: if tourists have to pay a 50% room tax, what the hell does it go for? It sure doesn't go to keep the tourist areas decent and inviting.
And, please keep in mind that this isn't a slam against NJ as a whole. Cape May seemed great to me (in fact, I full well intend to come back) -- beats the hell out of Ocean City Maryland / Rehobeth Beach Deleware. The Long Island Beach area, to include Surf City, seemed pretty nice as well. But AC? Don't ever plan on setting foot in those city limits again. Ever.
The Northeast Corridor is now saturated with casinos and it now all about cannibalizing to stay alive. Delaware allowed casinos a few years back and it has done so poorly the state actually had to bailout out the casinos. The opening up of slots in NY and the PA casinos have absolutely destroyed Atlantic City. Now Maryland is opening up casinos with one opening in Baltimore in August. MD gave the ok for a casino right at National Harbor off the Capital Beltway on the MD side of the Woodrow Wilson Bridge to open in 2016. That probably spell the death of the DE and WV casinos. The only major part the country without casinos is the coast from Virginia down to Georgia. There is only one casino in those states on Cherokee Nation land on the eastern side of the Smoky Mountains; I was just there as it is a nice place but food was way overpriced.
The decline of AC is one of the reasons Christie is fighting tooth and nail in the courts to allow sports betting in AC. Currently one can do sports bets in Nevada with Delaware allowing parley cards. Christie is probably right that sports betting is the Hail Mary that might save AC.
That's a rhetorical question, right?