Yet another Atlantic City Casino to Close

Atlantic City, New Jersey has long been a popular spot for gamblers to visit. Next to Las Vegas, Atlantic City is a top destination for gamblers as there are poker gaming and casino gaming options spread out amongst several casinos. Despite the popularity of the city, several casinos are now closing and hurting the New Jersey casino market.

The Atlantic Club Casino closed at the first of 2014 and the Showboat Casino is set to close later this summer. The Revel Casino may be subject to closing if a buyer cannot be found. Now, the city has another casino set to close this fall, the Trump Plaza Casino. When the casino closes, the employees, more than 1000 people, will have to find a new position somewhere else. With the closure, the city will now be down 1/3 of their casino gaming.

The owner of the Trump Plaza is Trump Entertainment Resorts and the company states the decision to sell is not final but is pending a review. Sources say that the casino is currently looking for an active buyer. The casino first opened in 1984 and had a start-up cost of $210 million. In 2013, the company tried to sell the casino for $20 million to a company in California, but was unsuccessful, according to a Card Player report.

As the brick and mortar gambling industry continues to struggle in the state, New Jersey has been passed by Pennsylvania as the second largest market for casino gaming in the US. The city has become involved in online gaming but have been unable to earn the revenues that were expected with the launch of online poker and casino gaming.

It will be interesting to see if the casino will eventually close or if Trump will be able to find a buyer before September rolls around.

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