Owners of Trump Plaza casino expect closure soon - New York News

Owners of Trump Plaza casino expect closure soon

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Another casino is cashing out in Atlantic City, the once proud home for gambling on the East Coast.

As more bad news descends on their casinos, the question now becomes what the future of gaming looks like down the shore.

Reports that Trump Plaza will close makes the third announcement of a casino that could be shut down by the end of summer, and the fourth this year.

A gaming expert said casino saturation is a problem nationwide, but it’s being felt the most in Atlantic City.

“Seven years ago we had over 5 billion in gross gaming revenue in Atlantic City, today we have just about half that," Roger Gros said.

Roger Gros has kept his finger to the pulse of casinos for more than three decades.

The publisher of Global Gaming Business Magazine said this might not be the end of tough times in Atlantic City.

“All you have to do is do the math. We had 12 casinos back then, if we only have half the revenue do we shrink to six? I don’t know," Gros said.

The Atlantic Club already shut its doors, and the Showboat will do the same on August 31st.

The Revel filed for bankruptcy for the second time in a year last month, and if they don’t find a buyer, they could be out of business too.

Trump Entertainment said no final decision has been made, but they expect to close Trump Plaza September 16th.

Gros predicted they won’t be the last to go dark.

“We still have eight casinos and there be one or two more that close before we kind of bottom out, before the market is right sized as I like to say," he said.

That could mean 77 hundred employees without jobs.

"It’s going to have a pretty devastating impact on Atlantic City. We’re looking at a quarter of the casinos leaving town," Gros said.

Gros said online gaming has actually created more revenue and allowed the casinos to market themselves, but the chips are down because of the competition built in the Philadelphia area.

For more people to Do AC, Gros said the city has to do something different.

“Now to come to Atlantic City you have be coming here for basically something else, whether it’s a meeting, entertainment, the shopping, anything Atlantic City offers outside the casinos," he said.

Gros said there’s talk of turning the closed casinos into just hotels, but properties like the Chelsea Hotel close during the winter months because there isn’t enough business that time of year.

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