Atlantic City’s gambling industry is in danger following the announcement of the closing of one of its iconic casinos, the Trump Taj Mahal. If it closes in November, as Trump Entertainment Resorts threatened on Tuesday, Trump Taj Mahal will be the fifth casino shut down this year out of 12 establishments located in Atlantic City.
In a statement e-mailed to The Washington Post, Trump Entertainment Resorts announced that without “significant expense reductions, the Trump Taj Mahal is expected to close on or shortly after November 13, 2014.”
The announcement coincided with the company’s filing for Chapter 11 bankruptcy in Wilmington, Delaware and followed a previous announcement by the company that it would be closing its other casino in Atlantic City, Trump Plaza Hotel and Casino, in September. The Trump Plaza will accordingly be closing next week on September 16.
— CP24 (@CP24) September 9, 2014
If Trump Taj Mahal closes in November as well, 2,800 people will be left unemployed, bringing the total number of casino jobs lost this year in Atlantic City to 8,000. Revenues for casinos in Atlantic City this year have been negatively affected by the opening of casinos in neighboring states such as Maryland, New York, West Virginia and Pennsylvania.
— WSJ News Graphics (@WSJGraphics) September 9, 2014
Apparently, when rumors about the closing of Trump Taj Mahal circulated on Monday, September 8, New Jersey governor Chris Christie also held a meeting with elected officials, union leaders and casino executives to address the closing of casinos in the city. State and city officials are reportedly aiming to attract other businesses to Atlantic City to offset the losses of casinos and attract non-gamblers to the area.
— New York Daily News (@NYDailyNews) September 10, 2014
Meanwhile, Donald Trump has filed a lawsuit seeking to remove his name from the two doomed casinos, saying that their closing might damage “the Trump name and brand.” Trump founded Trump Entertainment Resorts but no longer has an active role in managing the company.