Trump Plaza in Atlantic City has confirmed that it will close on or about September 16, 2014, according to the Press of Atlantic City. Trump Plaza has been last place in terms of Atlantic City gaming revenue for years. In 2014, it has only booked $21.9 million in gaming win through May 31. This is down 26.7 percent from the previous year. The next closest casino has won two and half times more than that in 2014.
This news is devastating to a city that has already lost Atlantic Club this year and faces as many as three closures in the coming months. Showboat will close September 1. Revel is in a second bankruptcy and has informed its employees it will close by the end of the summer if no buyer is found.
In 2013, an attempted sale of Trump Plaza to the Meruelo Group for $20 million was vetoed by its mortgage holder, Carl Icahn. At the time, the lien totaled $289 million and covered both Trump Plaza and Trump Taj Mahal. Carl Icahn owns the Tropicana in Atlantic City.
Trump Plaza marks the first time that an Atlantic City casino that operated online gaming will close. Betfair operates under Trump Plaza’s license but without any associated Trump branding. There is no word as to what will happen with Betfair. It must find a different Atlantic City partner as cash deposits at casino cages are mandated by interactive gaming law. Betfair has yet to announce its intentions.
Betfair has won $3.16 million in 2014 from interactive gaming, as of May 31. All but $48 of that came from casino games. Its poker room’s traffic is virtually nonexistent.
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