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 ...
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, you’ve 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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.