Trump Entertainment Resorts, which was founded by Donald Trump, will be filing for bankruptcy again this week, a move that could put yet another Atlantic City casino in danger of closing at a time when the revenue in that market has been in a rapid decline over the last few years.
The company owns two properties in the famous resort town. Trump Plaza is already scheduled to cease operations on the 16th, and the Trump Taj Mahal could also shut down sometime in November. Three other casino resorts have already shutdown in the New Jersey town, which is a massive problem considering that gambling is the town’s lifeblood.
The city is already supposed to lose 5,200 casino jobs this month, the shutdown of the Trump Taj Mahal will put another 2,800 employees out of work. Governor Chris Christie and other local leaders held a summit yesterday to discuss the future of Atlantic City, which has faced growing competition from neighboring states thanks to the increased legality of gambling.
“What happened to Atlantic City, there’s a lot of competition from a lot of other locations,” Trump said in a telephone interview yesterday. “It’s happening all over.”
Read more about the story at The Huffington Post.