Gambling industry in Atlantic City collapses

Since 2006 the casinos in Atlantic City have had to make losses accept. This had and continues to mean that many casinos have to close. There are currently only seven casinos left in this city. The casinos of the now incumbent President Donald Trump were also affected by the closures. One building is now even to be demolished.

Ansicht von Atlantic City.

In Atlantic City more and more casinos have to close. Donald Trump's Trump Plaza Casino building must be demolished.(©1778011/Pixabay)

Trump Plaza Casino to be demolished

The Trump Plaza Casino has basically been empty since 2014. Although this building was acquired by theBillionaire Icahn, he also failed to keep the casino alive. For this reason, the building has been empty for years and is crumbling. Apart from the fact that such a building does not look pretty and is even officially called an eyesore, there is another problem:Parts of the building fall off and hit the sidewalk. Scheinbar sind diese Teile derart groß, dass vorbeigehende Personen verletzt werden können. Um das zu verhindern, wurden sogar schon Polizisten abgestellt, die vorbeigehende Passanten vor den herabfallenden Teilen warnen.

This year the mayor decided that the building should be demolished - for security reasons. The owner actually agreed with this suggestion. But suddenly the demolition is delayed and nobody really knows why. Icahn is rumored to have applied for a tax break so he can demolish the building.Current plan is for Trump Plaza Casino to be eliminated in 2021.

Trump Plaza Casino only opened in 1984. At that time it still seemed as if the casino would be crowned with success. After all, not only celebrities came to the opening, but a total of 75,000 players. 25 years later, Trump decided to retire from the business, and not without reason. Even then, the number of visitors was falling and the casino got into financial difficulties. In 2014 the time had come and Trump Entertainment went bankrupt.

Other casinos in Atlantic City affected

In 2006, all gambling operators in Atlantic City had a turnover of 5 billion dollars.In 2016, sales fell by half. This led to several casinos closing in 2014: Atlantic Club Casino, Showboat AG, Revel and Trump Plaza Casino. Apart from the fact that the operators are no longer making a profit, more than 10,000 employees have had to give up their jobs.

Due to the reduced number of visitors, Donald Trump's second casino also had to close:The Taj Mahal Casino, which was able to last until 2016. This was thanks to billionaire Icahn, who took over both of Trump's casinos. Regarding the Taj Mahal Casino, Icahn came up with the idea of ​​collaborating with the US online poker provider Ultimate Poker. This happened in 2013, but two years later the poker section was shut down again. Icahn then applied for a tax break and was able to reopen the poker room in 2015. Unfortunately, all ideas did not help and in 2016 the casino was finally abandoned as such.

But before that the staff went on strike. In view of the ailing finances, Icahn apparently wanted to cut health insurance contributions and pension plans. The employees took action against this, but again without success. After no agreement was reached between the staff and Icahn, the Taj Mahal Casino's years were numbered.Thus 3000 workers lost their jobs.

Whether they got a new job in the Hard Rock Cafe, into which the Taj Mahal Casino was converted, no one knows. The conversion was completed in 2018 after the Seminole tribe took ownership of the building and launched another branch of their hard rock cafe chain.

Further slumps since 2014

The New Jersey Gaming Authority - New Jersey Division of Gaming Enforcement - publishedin 2018 that sales fell again by 15 percent| ||90. Lediglich zwei Casinos konnten Gewinne einfahren: Das Casino Tropicana und das Golden Nugget. Dem war aber nicht immer so. Seit 1920 wurde Atlantic City als blühender Stern am Glücksspiel-Himmel bezeichnet. Die Stadt diente sogar als Vorlage für die Fernsehserie Boardwalk Empire. Seit 1976 wurde das Glücksspiel in Atlantic City legalisiert. Man könnte sagen, dass seit diesem Zeitpunkt die Wirtschaft eine Achterbahn zurücklegte: Mal wurde ein Aufschwung verzeichnet und es wurden neue Casinos erbaut. Dann wieder ging es bergab und Casinos mussten schließen. Hierdurch kam es zum heutigen Stadtbild: Leere Gebäude stehen belebten Gebäuden gegenüber. Teilweise wurden bestehende Casinos umbenannt, in der Hoffnung, neue Kunden anzulocken. Wer bei slot machines, the best way to do this is on the internet. There you canPlay online casinos without a wager limit.

Experts seem to know exactly why the Atlantic City gambling industry is suffering a downturn. For a time, New Jersey held a monopoly of sorts, as neighboring US states had not yet legalized gambling. Because of this, residents of other states also came to this city.When more US states such as Pennsylvania, New York, Maryland and Connecticut allowed gambling in 2014, the flow of visitors to Atlantic City's casinos decreased. In the end, therefore, no operator of the casinos can be blamed for having ruined their casino.

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The article was published on August 28th, 2020 in the magazine by cpaws-ov.org under the keywords, ,,, published.
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