Trump Taj Mahal Possibly Heading For BankruptcyCould It Be The Next Casino To Close? |
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Atlantic City started the year with 12 casinos, and by the end of the month there will be just eight carpet joints in the seaside town.
Could another brick-and-mortar casino be on its way sometime in the near future?
According to the New York Post, Trump Taj Mahal, the second largest casino in Atlantic City in terms of gaming floor space, might be headed for bankruptcy.
The Taj had a slight operating loss in the first six months of the year, the report said.
In January, the Atlantic Club closed, followed by Revel and Showboat the first week of this month. Trump Plaza, which sold for just $20 million last year, is closing its doors on Sept. 16.
Talks between Trump Entertainment Resorts, which owns both of the aforementioned Trump-branded properties, has failed thus far to find an out-of-court agreement with its creditors.
Trump Entertainment has filed for bankruptcy before, with the latest coming in in 2009.
Last month, real estate giant and reality TV star Donald Trump filed a lawsuit demanding that his name be removed from the two Atlantic City casinos. He still has a small stake in the casinos.
In an effort to distance himself from Atlantic City, Trump ironically sued Trump Entertainment Resorts, arguing that the two slumping casino properties are hurting his brand and image.
There has been a prediction that in a few years Atlantic City will have just six casinos.
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