Trump Entertainment Resorts intends to close the 2,000-room Trump Taj Mahal in Atlantic City on Dec. 12, lawyers said Friday, making it the fifth of the city’s 12 casinos to shut down this year. The company had filed for bankruptcy in September, outlining plans to close the property in November due to declining gambling revenue and falling occupancy, Reuters reports. That closure was delayed after the company won court approval to cut pension and benefits of its 3,000 employees, the article states. The company’s board of directors approved the closure because the owners had not received the tax relief and incentives they had sought.
I find it ABSOLUTELY fascinating that all these Hugely expensive extravagances built in Atlantic City, for the exaltation of a known negative activity, are CLOSING. Their business models were ALL built on long known, unsustainable premises. Reality is a struggle, not a gamble.