News broke this weekend that the The Trump Plaza in Atlantic
City is set to close and many are expecting WARN notices to go out to its 900
employees on Monday.
Like many Atlantic City casinos, Trump Plaza has been
struggling. Through the end of May, it has pulled in about $21.9M compared to
the nearly $255M that the Borgata Hotel Casino and Spa pulled in during that
time period, according to NBC10.
Trump Plaza is one of several Atlantic City casinos to
threaten closure recently, as gambling revenue has shrunk from nearly $6
billion in 2006 to below $3 billion in 2013.
Caesars Entertainment announced the that Showboat Atlantic
City will close at the end of the summer, leaving 2,000 people unemployed. That
came on the heels of the Revel Casino Hotel threatening to close if it doesn't
find a new owner. The Atlantic Club Casino closed in January. Meanwhile, the
Pier Shops at Caesars is up for sale at a deep discount.
Atlantic City Mayor Don Guardian said the city should
prepare for a life where casinos are not the main source of revenue. He
stressed that the city's economy is moving beyond gaming and his administration
is increasing efforts to bolster tourist attractions and lure more conferences.
Source: Philadelphia
Business Journal
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