Trump Casinos File For Bankruptcy. Closures Possible.. AC May Have Just 7 Casinos.

[Mitchell]

www.msnmoney.com.

Trump Entertainment filed for bankruptcy today.

Atlantic City is falling like a House of Cards. (No pun intended). It is being said that the Trump Taj Mahal may close in mid November, joining the already out of business Atlantic City casinos, and reducing the amount of Atlantic City casinos from 12 to but 7.

The still soft economy, and competition from casinos in PA, and NY, which used to be two of Atlantic City's biggest drawers, have hit Atlantic City hard.

Jim Gardner had an interview with Atlantic City Mayor Dan Guardian last night that should be posted on www.wpvi.com. In the interview, Mayor Gaurdian discussed the transition of Atlantic City from what he calls a "Gambling City" to more of a "Family Resort City".

 

[milagros317]

I honestly can't see the attraction as a family resort city. One block off the boardwalk and you are in a sketchy neighborhood. The beach is nothing special; New Jersey has a long coastline.

 

[Mitchell]

Agreed, mils.

The sketchy neighborhood part that you mentioned is Atlantic City's fault for not trying to revitalize the town. They had over two decades of incredible gaming revenue before the intense competition from casinos in PA and NY that exists now. If they had revitalized the town, maybe a condition like what Mayor Guardian talked about could exist. What is really has been, is that Atlantic City has always been a row of hotels on a couple of streets, located in an otherwise downtrodden town.

 

[Mitchell]

Trump Plaza Casino closed today. An incredible turn of events for a casino/company that once was a powerhouse

 

[milagros317]

Trump Plaza Casino closed today. An incredible turn of events for a casino/company that once was a powerhouse

Their poker room was worth visiting but I never liked the rest of Trump Plaza.
It is sad that so many casinos have closed there.

 

[paracarl44]

I had a chance to visit The Showboat Casino last year before it closed.

 

[DontAskJusTckle]

One reason Atlantic City is doing poorly is because of the new casinos in Maryland. Now all of the Washingtonians that used to have to go to Atlantic City to gamble can do it in Maryland.

 

[milagros317]

One reason Atlantic City is doing poorly is because of the new casinos in Maryland. Now all of the Washingtonians that used to have to go to Atlantic City to gamble can do it in Maryland.

And people in upstate New York and in Connecticut who used to go down to Atlantic City can go instead to Mohegan Sun or Foxwoods.

 

[C.A.B.]

Shiny tinsel in the middle of a depressed and crime riddled hole... Atlantic City may have been glorious at the turn of the century, but even in the late 70s the new casinos were glitz among mugging alleys. Money was never pumped into the surrounding area as promised.

 

[kopfhorer]

Digression: As I write this, certain entities are lobbying NY state to allow casino gambling at the Tioga Downs racetrack, within easy traveling distance from many points in the Finger Lakes and the Southern Tier. The pitch - economic development. Is this the Story of Atlantic City playing out in another location?