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Trump Plaza To Close In September As Atlantic City Implosion Claims Fourth Casino
The Atlantic City casino industry implosion continues. Following the second, and final, bankruptcy of AC's "state of the art" Revel Casino a month ago, as well as the shuttering of Atlantic Club hotel Casino and the Showboat hotel casino, the grim corporate reaper has come for one of the most prominent boardwalk casinos of all: Trump Plaza.
The casino which opened in 1984 as a JV between Donald Trump and Harrah's AC, was for a long time the centerpiece of Donald Trump's one-time Atlantic City empire, which however promptly escalated into a series of sequential bankruptcies, chipping away at Trump's reputation and business model, as one after another of Trump's properties sought Chapter 11 protection.
The final punch came in February 2013 when Trump Plaza was sold to a California company for $20 million - the cheapest ever transaction for an Atlantic City casino, and a fitting testament to the death of this one-time east coast gambling mecca. It was here, however, where a very bored Carl Icahn, once again spread his wrinkled activist wings when in April 2013, as senior lender for the mortgage, Icahn declined to approve the sale for the proposed price and the deal was put on hold.
Unfortunately for Icahn, this is one he may have let go, because as the Philadelphia Inquirer reports, Trump Plaza has decided not to bother with continuing the sale process and will instead shutter permanently. "Trump Plaza Hotel & Casino will shut its doors for good in mid-September, according to state officials who were briefed Friday by lawyers for the casino."
"I believe Sept. 16 is the targeted closure date that we were told," said Assemblyman Vince Mazzeo (D., Atlantic). Mazzeo said he and State Sen. Jim Whelan (D., Atlantic) received a phone call late Friday afternoon from a Trump Plaza lawyer. Atlantic County officials also were briefed, he said.
Mazzeo said the attorney told him that Trump Plaza management plans to make a formal announcement and issue 60-day layoff notices to about 1,600 employees Monday.
"This is another blow to the casino industry here," Mazzeo said. "With mid-September the timing of the closing, it will have a devastating impact on the local economy."
The news will hardly come as a great surprise: there has been speculation for more than a year that Trump Plaza was on the verge of closing. "Like the Atlantic Club, Trump Plaza is one of the city's smallest and oldest gambling halls - it opened May 26, 1984 - and had difficulty competing with the bigger casinos in town and in nearby states, including Pennsylvania."
But while the creditors will be angry they have other sources of income; one group of people even more furious and with zero recourse are the unions. Bob McDevitt, president of Unite Here Local 54, the union that represents most casino workers, led a Boardwalk rally Wednesday to protest Showboat's planned closing. McDevitt, who labeled Showboat's closing "a criminal act" by Caesars Entertainment since the property was still profitable, could not be reached late Friday to comment on the latest casino to fall.
Meanwhile, the city is slowly but surely realizing that its business model is dead.
Whelan, a former Atlantic City mayor, expressed his displeasure Friday night. "I go from depressed and sad to being angry," he said. "When these casinos close, people lose their jobs and their careers. It's a very sad situation."
Employees at Trump Plaza had not been notified Friday of the planned closure, but slot attendant Stan Jelesnianski, who said he has worked there for 21 years, said employees had been worried "for a long time."
"Business has been slow," he said.
According to May 2014 monthly revenues from the New Jersey Division of Gaming Enforcement, the latest monthly data available, Trump Plaza ranked last among the 11 casinos in total revenue, making $5.2 million. Of that total, it generated about $4.6 million from slots, down 19.8 percent from May 2013. And it took in $660,666 from table games, a decrease of 45.6 percent from a year ago.
Its year-to-date total casino revenue of $21.9 million was down 26.7 percent from the same period a year ago.
Charles Pinkett, a Boardwalk rolling-chair operator, said the casino has seemed to be on life support for a while. "The people have been talking about how there's no room service," he said.
The only good news perhaps is that yet another icon of the Trump "empire" - built entirely on other people's money and junk bonds - is being dismantled. After this, there is just one more left...
Mark and Alice Aronson, dining outside, said they were surprised and saddened to hear another casino was on the way out. Alice Aronson, a local therapist, said she had clients from Showboat who were dealing with the pain of the likely layoffs.
"It's a shame," she said. "This is a good place. I heard Donald Trump is not involved anymore. I thought maybe he'd fight for it. It seems, one by one, they're not taking care of their employees."
Trump Plaza's closing would leave one Trump-brand casino in Atlantic City - the Trump Taj Mahal, between Resorts Casino Atlantic City and the soon-to-close Showboat.
We give the Trump Taj 6-9 months before it too joins its peers in the liquidation docket, and the name Trump will no longer appear on the boardwalk for the first time in over three decades. In the meantime, those curious to track the demolition of the Atlantic City gaming empire in real time, can do so at the New Jersey WARN Notice website.
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"You're fired!"
RECOVERY SUMMER FIVE!
Green shoots!!
Good riddance. But, the nyse is the casino that cleary most needs to burn.
How many does it hold? Maybe we could store all the illegal invaders in the Trump FEMA Casino.
Apparently there is some vacant housing in Detroit as well? ;-)
Brian Terry's Brother Kent: 3 Greyhound Buses with Unmarked Escort in Detroit
http://www.breitbart.com/InstaBlog/2014/07/11/Slain-Border-Agent-s-Brother-Kent-Terry-3-Greyhound-Buses-with-unmarked-escort-in-Detroit
The illegal invaders will not be happy. Detroit is a downgrade from el salvador
It is a puzzling move, I thought Detroit was deep blue already ;-)
where will the retirees go now for their bus tours?
next thing you know, the ordinary sports fan will stop shelling out hundreds of bucks to go see professional athletes perform sports entertainments
Well, people need money to gamble so that they'll end up needing more money to cover their losses. We liberals have a proposal: Allow Casinos to accept EBTs. And if people lose that, too, give them more EBTs. We see it as a win-win.
No, let's get Donald Trump out here again to explain to us why the current guy running the show is an idiot and how he's going to fix everything (though he's not really running for office, he just whores himself out as a political lackey to settle debts).
I am Chumbawamba.
Propping up Obama by comparing him to Trump. Oh, how the mighty have fallen.
Oh, I don't know, pretty apropos. Donald Trump has his failing empire and Obama currently reigns over the failing US empire.
One just happens to be much larger and in debt than the other one.
I think we could survive the Trump empire collapsing, but how many will come out alive when the US empire finally collapses?
You're right. We have survived every previous Trump empire collapse.
Trump might be the king of corporate welfare
Not even Trump can stop this recovery!
JP Morgan runs the EBT Program for the Federal dicks.
So, it is a win for JP Morgan.
Sports has become just another PC experiment In the pussification. ESPNpms and their talking vagina's have pretty much ruined the games of men. Redskins, there is another example of PC madness.
"talking vagina's have pretty much ruined the games of men."
not me. what are the rules and how do you keep score?
also why the apostrophe?
Real men play sports. They don't watch other men play sports.
Real men date women. They don't watch women on TV.
Real men do not watch porn stars perform. Real men perform.
Lose the pornography...
Stockpile all the illegal immigrants in the shuttered casinos. They'll wind up there eventually once they get their first benefit card.
They are also being sent to Chicago. Perhaps the elites, as this melt-down accellerates, are giving liberals the middle-finger salute saying, "here ya go bleeding heart commies, YOU deal with 'em!". Interesting times, these.http://www.nationalreview.com/corner/382564/federal-government-sends-hun...
The Elites are thinking: "Hey, Nicaragua and Honduras would look nice... With less of these kids on the streets..."
Have you been to Nicaragua????
Last I checked the map, Nicaragua didn't even have a road linking the east coast to the west coast.
Fellow worker from those parts refers to it as Niggeragua
I guess there weren't enough .001% to make a go at his POS casino. ... That scumbag will be very visible when this house of cards comes apart
I lived in Phili when Atlantic City “opened” and remember the free buses from downtown to the casinos. Little old men and ladies would be standing at the bus stop literally holding paper bags with their savings to go gamble. I took the free bus there a few times holding a pair of shorts in the bag instead of money because the bus driver would not let you on the bus unless it looked like you were going down there to gamble.
It was quite a sight. Tawdry, pathetic, and perhaps prophetic.
Ah, so you are the genesis of "he lost his shorts". I had always wondered...
Wow...
Thinks must be REALLY bad in Merika,
if they can't afford to just piss money away any more...
/s
Yeah, recovery, expendable income: I'll see your can of green beans, AND raise you a can of corn.
Back in the fifties, casinos were considered cool (like smoking cigarettes, accent then placed on the last syllable).
Recent pass thru Reno revealed to me how this form of entertainment has become declasse.
Casinos are now the haven of ordinary po folk and lowlifes... rather like coach class on the airlines that has replaced the 'hound.
No more comped buffet meals - now about $30 for din din at El Dorado. This is the end.
Casinos generate wealth HOW?
Welcome to Camp Trump. Work Makes Us Free.
But if they are laid off how will the employees buy stawks?
It ain't over until the fat 'Yellen' sings......
How is that Hope and Chains thing working out NJ?
I guess no new hairpiece for Donni this year...
"Maybe this will wake us up.", I keep thinking.
It'll wake up a few people in Atlantic City.
"Bob McDevitt, president of Unite Here Local 54, the union that represents most casino workers, led a Boardwalk rally Wednesday to protest Showboat's planned closing. "
Protest business losses!!!!
Go solutions...!?
Protest the closing? It's one thing to be a dumbass, it's another to be one publicly.
Just another distraction. Gotta direct the anger of the union employees against the casinos. Wouldn't want that anger to be directed against the union bosses that were raking in exorbitant salaries and casino bribes while actually doing very little to help their union members, except of course, collecting union dues from underpaid members.
"Gotta direct the anger of the union employees against the casinos. Wouldn't want that anger to be directed against the union bosses that were raking in exorbitant salaries and casino bribes while actually doing very little to help their union members, except of course, collecting union dues from underpaid members."
Apparently not 'underpaid' enough to keep the business afloat. Another union victory for the working man.
Compared to the salaries and benefits of the union bosses and the management of the casinos, yes I would say the average union member was underpaid.
What do you think they were making dealing blackjack and running the roulette tables, six figures?
they're dealing cards.....not performing neurosurgery.....it's not exactly skilled labor
if they want to EARN more $$$ there is always the option of educating ones self. I understand, though, that it is an unpopular idea in today's WHAT ABOUT ME culture.
As a dealer, I make 50k working 32 hours a week at a small casino in the middle of nowhere with 8 tables. In a bigger market my income would be higher.Dealers in more prestigious resorts obviously make more. We're not doing badly at all compared to many other professions. If these dealers are unionized that's just laughable. We have a dream job.
While reading the account of Varus' defeat in "Fifteen decisive battles of the world: from Marathon to Waterloo" (page 71)
http://manybooks.net/titles/creasyedetext03tfdbt10.html
(free- written by Sir Edward Shepherd Creasy and published in 1851 before political correctness censors)
I came across this paragraph that I felt could be accurate describing our debased culture with a few changes I made here:
Vast however, and admirably organized as the fabric of American power appeared on the frontiers and in the provinces, there was rottenness at the core. In America's unceasing hostilities with foreign foes, and, still more, in her long series of desolating financial wars, the free middle classes of the United States had almost wholly disappeared. Above the position which they had occupied, an oligarchy of wealth had reared itself: beneath that position a degraded mass of poverty and misery was fermenting. EBT recipients, the chance sweepings of every liberated country, shoals of Africans, Mexicans, Arabs, and others, made up the bulk of the population of America. The foulest profligacy of manners was general in all ranks. In universal weariness of revolution and civil war, and in consciousness of being too debased for self-government, the nation had submitted itself to the absolute authority of Obama. Adulation was now the chief function the media, House, Senate: and the gifts of genius and accomplishments of art were devoted to the elaboration of eloquently false panegyrics upon the President and his favorite courtiers. With bitter indignation must the Russian chieftain have beheld all this, and contrasted with it the rough worth of his own countrymen;--their bravery, their fidelity to their word, their manly independence of spirit their love of their national free institutions, and their loathing of every pollution and meanness. Above all, he must have thought of the domestic virtues that hallowed a Russian home; of the respect there shown to the heterosexual, non-deviants, and of the pure affection by which that respect was repaid. His soul must have burned within him at the contemplation of such a race yielding to these debased Americans.
Now the original:
Vast however, and admirably organized as the fabric of Roman power appeared on the frontiers and in the provinces, there was rottenness at the core. In Rome's unceasing hostilities with foreign foes, and, still more, in her long series of desolating civil wars, the free middle classes of Italy had almost wholly disappeared. Above the position which they had occupied, an oligarchy of wealth had reared itself: beneath that position a degraded mass of poverty and misery was fermenting. Slaves, the chance sweepings of every conquered country, shoals of Africans, Sardinians, Asiatics, Illyrians, and others, made up the bulk of the population of the Italian peninsula. The foulest profligacy of manners was general in all ranks. In universal weariness of revolution and civil war, and in consciousness of being too debased for self-government, the nation had submitted itself to the absolute authority of Augustus. Adulation was now the chief function the senate: and the gifts of genius and accomplishments of art were devoted to the elaboration of eloquently false panegyrics upon the prince and his favourite courtiers. With bitter indignation must the German chieftain have beheld all this, and contrasted with it the rough worth of his own countrymen;--their bravery, their fidelity to their word, their manly independence of spirit their love of their national free institutions, and their loathing of every pollution and meanness. Above all, he must have thought of the domestic virtues that hallowed a German home; of the respect there shown to the female character, and of the pure affection by which that respect was repaid. His soul must have burned within him at the contemplation of such a race yielding to these debased Italians.
"Slaves, the chance sweepings of every conquered country, shoals of Africans, Sardinians, Asiatics, Illyrians, and others, made up the bulk of the population of the Italian peninsula"
LOL dont tell the Italians what they are really mostly descended from hahahaha
AssFire
Battle of the Teutoburg Forest. Great story.
As one of the great icons of the phony economy, I say "adios puta".
Salsipuedes. Heavy wave on a big north swell...
Dead right. But it works about as often as common sense east and west of the Pecos.
King Obama is said to be overjoyed.
Lots of pissed off union employees, American women & children hurt the worst (naturally) and additional housing for Barry's Border Babies will soon be available.
#Winning!
Yes, of course, it's Obamas fault.
That people don't have excess money to gamble with anymore?
Next up is Adelson in Vegas, not only will the water dry up but so will the money..
Adelson is another one of these Chamber of Commerce types who want "cheap labor" from any source, legal or illegal.
Another fucking douchebag extraordinaire.
Hey, TrulyStupid, if its not Obama's fault, then who's fault is it?
Oh, that's right, it's still Bush's fault.
I like the way nothing is Obama's fault.
And, the buck doesn't stop at Obama's desk, it just heads out to the golf course to play 18 holes with Obama.
Well, hey, he likes it up the hole!
AIPAC too. He backed Romney and also backed CFR Gingrich to block Santorum. Santorum got the Thad Cochran GOP-e vote theft treatment in many Midwest states. Romney was toast but they stole it. Adelson said he liked Santorum but "he was too Christian for me." I wonder if Santorum did not go to the wailing wall.
2017, Hitlery "It's Bath House Barry's Fault."
Civil War
You gotta be asking yourself,
Why import human labor in a Recession and a Labor Demand Crisis (Meaning no work for anyone, 90 Million unemployed)
The worst hit by this Depression and any Depression is probably the Minorities and the poor.
I get it that Republicans always want more poor people to do any physical labor or menial jobs, and want them available any where they drill for Oil or Gas or have Investment Ideas.
But the Liberals & Democrats would do this for Votes when they already have Gerrymandering set up. These guys are living in another world like princes & Princesses if they believe this isn't dangerous.
They all believe the Russian Revolution was just a small economic transition, or Mao's Great Leap forward was just austerity.
This is a depression with no solutions coming from private industry and no one with Honor or Integrity in our Congress.
An American Diaspora is what we are looking at. Those with the means will go to the country side or leave the USA. Bankers will be the First to Leave. Bankers are not Patriots. They have no Ethics or Morals or human principals to help other people.
Bring out the pitchforks and torches... wake the frack up you stupid fukn sheeple.. you all are getting raped by the ruling elite and their 0.1% uberwealthy capitalist cronies and don't even care... personally, sandpapering their skins off and burying em all in salt starting first with the liar in chief sounds more appropriate for all these corrupt azzhoes...
Just who are the people that think the TRUMP name is of value? Do people actually buy something because of the TRUMP name?
They must have wigs and are sleazebags. I just don't see it and would love to see the numbers that show the name is of value.
Of course, maybe this is the data that shows the value....
Just who are the people that think the TRUMP name is of value?
Aside from the self-promoter himself, I've never understood that.
Deluded self promoter is right. In his mind, he is a modern day Croesus, but in reality he is more like the Kim Kardashian and Lindsey Lohan of the business community.
I must admit that I have a soft spot for the guy, though. This guy elevates bullshit into a high art form. He is a phenomenal ass-clown and provides excellent comedy with a straight face and absolute conviction, which only makes it funnier.
How can you not appreciate that?
I remember a particularly farcical episode, in which Trump sued a New York Times presstitute for writing a book that estimated his net worth at 150-200 million. Apparently, the Donald does not like to be called a millionaire (he prefers the term billionaire).
Any ZHer who has a minute or two and feels like a laugh can check out these articles here, here, and here, to understand why the Donald is "worth whatever I feel".
Of course, he lost the lawsuit, and a whole slew of exaggerations, fabrications and outright lies came to light. If anything, he came out looking "poorer" than he did going into the trial.
----------------------------------------
New York's State Attorney General recently brought suit against Trump for fraud and running a sham institution. You see, The Donald runs a money-grabbing operation which he modestly calls Trump University. Trump U.’s free seminars were often nothing more than hard-sell jobs to get people to sign up for a $1,495, three-day seminar and eventually a worthless “elite” program costing as much as $35,000 a person.
However, the bad-hair man is undeterred and has initiated a 100 million dollar lawsuit against the State of New York for "the damage caused to his name, brand and reputation by this malicious prosecution.”
Hilarity ensues...
Somebody calculated that if The Donald just put the money he inherited from his daddy into a mutual fund, he would have more money than he does now. In other words, he has done nothing of monetary value in his life.
I thought he invented and patented bullshit and years of tinkering with it in his garage and made a lot of money with it.
You would think the guy could get a decent plug job instead of that bad combover.
These are the people reality show's and the modern Democrat party was invented for, the chrome plated dog turd of the real world.
Glad to hear it! Trump the chump. May we find no names of his on anything anymore!
It's the Christie Jersey Comeback. ....... Crapped Out !!!
You got to know when to hold them, know when to fold them, know when to walk away, know when to run, you never count your money, when your sitting at the table, there'll be time enough for counting, when the dealin's done.
Cunt
:-)
Nice to see you around I96. Hope all is well.
Thanks centerline,
Tip-top my friend, same back at you.
;-)
Trump and Palin for the White House!
Couldn't be any worse than Hillary/Warren for the White House.
Actually, we can't have to white people running for POTUS anymore so it'll have to be:
Hillary/Wookie 2016
I think for shits, giggles and much hoped for Schadenfreude, I'll register republican to vote in the primarys to help Romney along should he run again.
He's clearly motivated to acquire money and perhaps he's exactly the "business-man" needed in the White House where Greedy-Empty-Suit-Critical Mass is achieved and collapse finally reaches free fall speed.
Let's see, who could run as VEEP with Romney to smooth things over with the conseravative xtians, tea party folk and Libertarians?
Romney/(rand) Paul 2016?!!?!?!!?
Romney/Palin 2016!!??!?!?!??
Romney/.....hmmm..
Romney/Dimon 2016!
Magical-mystery, highway to hell tour 2016!
Yeah Baby!
Rename it chris christie plaza and mega buffet
Trump seems to have left the casino thing behind and jumped on the golf bandwagon..which is where the rich and famous spend their time and their money before their businesses implode. After building one golf course in Scotland, Trump is heading to Dubai with a new golf course and a spa cum wellness centre.
http://www.dubaieye1038.com/trump-plans-18-hole-golf-course-in-dubai/
The golf industry is not doing well either. Most courses raised fees during the Tiger boom in the early 2000's, but they haven't lowered them during the recession/depression. The market crash, recession and higher fuel prices started the decline of the game. Less and less rounds are being played each year. The masses have less disposable income. They can no longer afford those $50 rounds a week.
http://www.turfnet.com/page/news.html/_/construction-play-number-of-golf...
Even less expensive muincipal golf courses are dying in this depression. Older golfers cannot even afford $12 to $15 golf rounds. Sad.
No worries, mate... the corrupt incompetent arrogant narcissistic illegal kenyan indonesian alien muslim sociopathic liar in chief still gets to live its celebrity grand imperial golf lifestyle on the backs if all the tax paying US citizen sap serfs & peasants.
Value, don't make me laugh. This dude has beat witten all over him, as in "this man is beat." Beat he is indeed. Just deserts, and may the ball keep rolling.
If memory serves, Trump does have a daughter who might be a decent fuck if one is bored.
Other than that, fuck New Jersey, fuck casinos and gambling, and fuck the former Atlantic City mayor who cant sleep at nights. Am happy to see such shit go belly up.
move the 65,000 "Children" gangbangers to Joisey, put em all up at the Trump, Showboat, Atlantis, Tage and Revel:
wall it up and shoot the movie....Escape from New Joisey....
Snake Obama....
There are no rules:
SnakeBama: Nobody draws- votes, until the spare change hits the ground
Ready.......!!!! Vote, Schmucks....
LOL
http://youtu.be/ue8TvvYik74
It's time for Atlantic City to legalize hookers and blow.
I didn't know.
May the Trump name go the way of the dodo bird!
maybe trump can get a bail in to turn this turd into a fema camp with automatic strap down body feed head neck guiloteens.
maybe it could be used by israel,uk and the usa to store all the missing children before processing for ritualistic satanic slaughter.
a giant fast food meat grinding company can move in next door to process the simply huge amounts of ribs,guts and flesh.
if we put pressure on washington this free incoming human meat could mean a 20 cent reduction in are burgers unlimited supply of oils and grease for are i cannot believe it's human butter spreads.
everyone wins.
my fellow jewishers goy meat processing in the next few years will become an important growth area.
israel today in gaza is showing us the old biblical kabalistic cannanite satanic ways work quick.
people of america it is only half time in the game.
lets go to work.
lets roll.
Just make sure you give all the little kiddies a High Colonic before slitting their tiny throats.
Makes turning the intestines into sausage casings all that much easier.
Jonathon Swift's A Modest Propsal goes wild, eh?
No modesty here. But then what shall I expect but immodesty here?
Keep up the good work. LMAO.
Smells Like:
Soilent Green & Masonic Lodges Sex Night. How do Kabalist Temples smell on sex night??
Do Kabalist perform the human sacrifices still?
I guess it is in the Byblos. Well anyway Sounds like a Monsanto Operation if it has to do with food, might need Cargill for some storage & chemicals.
Win-Win, just as you say. We need food and meat at non-inflated prices, and the Elites need werid sex & Taboo sex, and they pretty much think we need to get rid of people systemically.
But am I off here?
Mc-Ribs is Irish or Scottish?
The unions should buy Trump Plaza since they think that they are so smart.
1 Libtard Plaza. Obama's symbol in the middle of the building.
Faux news?
Are you disparaging of liberals or retarded people? Or are you one of those that still thinks there are two parties, two opposites? Conservative is what, exactly? Liberal is what, exactly?
Stop being a stooge.
Liberals have us sprinting towards the cliff.....conservatives have us jogging towards the cliff. First on the agenda, stop the sprinters.... and then we kill the joggers!
and their owners have them at each-others thoats, far from the levers of power.
The best thing to do is not care about the race.
globalists lead the pack
Obama can transfer all the employees to focus on the new illegal Alien integration to US program.
With the illegals costing the taxpayers $72,000 each there is all sorts of money to be made.
Increase the US EBT and welfare programs to include all of Mexico and South America.
For the current system debt is money. The debt should be easy to double from here quickly. Let's shoot for $40 trillion in debt.
Don't be an underachiever, we're shooting for one..... QUADDRIILLON!
A Krugman wet dream if there ever was one.
BHB:
"Using my pen and phone, I have extended EBTs to all of the Wstern Hemisphere."
Idiot. We are at $60 Trillion
All Sectors; Credit Market Instruments; Liability, Level
2014:Q1: 59,398.59 Billions of Dollars
http://research.stlouisfed.org/fred2/series/TCMDO
But the avg UK household has $200K in debt, so we have a ways to go yet.
$60 Trillion??? That is only the equivalent of rioughly 10 Light Years in distance. That is nothing. If it were Space Travel then it is just scratchin' the surface. You might be able to get to Three Star Systems covering that Distance.
You have your sights set way too conservative. Yer too damned myopic. We need to be a Quadrillion in Debt...tommorow.
That way we can all be billionaires.
Start printing Yellen...Pleeeeeze start printing MOAR. Faster. Cannot get enough. Always MOAR butz neverz enough.
I wanna die a Gazillionaire. Pleeeeeeze Auntie Yellen. Print.
When will they close down the FED Casino and the Washington Casino?
There go the "X-mas in July" sales!
I would think ZH readers would know that the two party system is dead, that labels ("conservative/liberal/anarchist/communist/socialist,et,) are used to divide the people.
If you don't know that the corporate fascist oligarchy is dividing the people you are an idiot. There, you are divided.
You don't have to be a stooge...wake up and join the human race or go work for a bank.
Gambling is for suckers. Trump? Bad hair.
There's a human divide between the makers and the takers. Many of us don't mind working for ourselves and our families and just want the govt to stop taking so much of what we earn and telling us how to live.
Then there is a whole other group of people who are too stupid and lazy to work and demand that the govt take care of them.
We need elected officials who will support the first group. There just aren't enough of them in office (yet).
damned button...
With you up till, "gambling is for suckers".
Not taking a risk is equally gambling.
There is no way out of being a gambler. We, at least of lot of us, are just numb to the many ways in which we gamble with our lives, our money, our families, and our jobs.
Look hard enough and you'll see that not taking action can make you just as much a loser as putting $100 on Red.
The shock on people's faces is amazing when I tell them that they cannot afford NOT TO BUY GOLD.
Then I respond by telling them, "I cannot afford NOT TO BUY INSURANCE. I cannot afford a catastrophic loss."
I hear you. If the wager is a winning wager and you refuse to place the bet then YOU LOSE.
Atlantic City is the new Detroit! "Recovery"
I bet NJ's pension owned a piece of this just like Revel ......
Lost your job? Become a stock, bond or currency trader! Skill set required: be able to press the BUY button!....
Donald for President!
What a place, that was. Dirty, dirty.
Blame the Fed - again. The Fed has destroyed interest that seniors get on their savings, and by understating inflation they have limited the annual Social Security increases well below what is needed to keep pace with actual prices. Individually, seniors never spent a lot at casinos, but collectively a bus full of seniors was the lifeblood of the mid-week daytime hours. Seniors have been forced to cut back, the choice between gambling and eating is not hard. Vegas has been sucking (or suckering) more families and remains the favored choice of the big money players. I do not see a business model for the continuation of big Atlantic City casinos.
Fire up the bulldozers.
I don't get it, the banks and media keep the us the economy is cranking.
..." banks and media keep the us the economy is cranking."
Are you old enough to remember the phrase "POWER TO THE PEOPLE"? They/we are exercising our power... to buy, NOT to buy, to gamble, NOT to gamble...to go into debt, NOT to go into debt. And every other damned thing. They can make us suffer but the tables can be turned.
Couldn't happen to a bigger, loudmouth ahole. Makes my day.
It's not happening to him it's happening to those who lent him the money or invested in the Casino. And those who invest in casinos happen to be drug and other cash dealers.
Instead of thinking of the Trump Casinos or most others as actual businesses think of them as monolithic, fancy "Laundry Machines".
No harm to Trump.
Didn't happen to him, he's combing his hair on a yacht somewhere. Its just the people who work(ed) for his crummy business
The Northeast is dying. On HGTV, regularly, the people looking for homes are displaced NE'rs moving to lower cost markets. Here in rural Ohio I see NJ and NY plates more and more. Population is declining there cuz no one can afford to live there. What's their answer? More taxes to compensate. Die NE DIE.
Hey Iridium, at least we helped the Atlantic City demise by opening up our own casinos. Of course the projected windfall in taxes the gubmint so greedily expected is coming in below forecasts. I wonder if supply and demand might have anything to do with it? Not that any government official has ever heard of such a basic archaic economic principle.
Casinos for all and let the money be raked in!
Good point too. There are 5 casinos close to me in Ohio here. Why would I travel there or to Vegas?
" There are 5 casinos close to me in Ohio here. Why would I travel there or to Vegas?"
Got tired of losing money locally?
I've gone once in three years and made money. I no longer drink so when the wife and kids were gone I go have "sin time". I take 50 bucks and play the roulette. If I lose it so be it. I've basically broke even in my 7 times I've been.
There are better games...profitable games....games where YOU have the edge over the House...for a brief time period...if you can read the machines and know which machines to pay attention to. (I am not writing about Card Counting Blackjack.)
If you know how to do that, and discipline yourself to playing those games ONLY, and ONLY when they are in that state, then in the long run you cannot help but winning.
But that is not widely known information. However it does exist.
AC used to have the NYC market. Now you can go to Foxwoods or Mohegan Sun CT in a little over 2 hours. They are new and not surrounded by ghettoes. Atlantic city itself just a couple of blocks from the casinos is like South Bronx.
"Trump Plaza's closing would leave one Trump-brand casino in Atlantic City - the Trump Taj Mahal, between Resorts Casino Atlantic City and the soon-to-close Showboat."
Time to shop for casino shorts for the 401(k). When they start to tumble it's like Niagra Falls until they become penny stocks.
Wow, the casinos are some ugly looking charts with visible overhead resistance that if they didn't take out in this "bull" market they never will. That's big time divergence. And none of them are making any money.
Take a look at CZR and PNK (18% short float and insider selling).
This made my weekend. Going all in on Monday.
ETA: Caesars EPS Q/Q -93% (Ouch) and Monthly chart is brutal -- after $15.00 next stop is $5.00. Unfortunately, CZR has a boatload of cash but DRII doesn't.
New Jersey completely sucks.
New Jersey completely sucks Bath House Barry's Schlong.
Ah Trump, the fake "billionaire"... also one of the few people pathetic enough to be able to bankrupt a casino (this isn't the first time).
I was in Atlantic city in May, and i could see the decay of Trump Plaza. There were empty rooms with rotting curtains falling down behind filthy windows. Really classy.
Cher opening in Club Melania for ten weeks only.
it is good to see green shoots of good behavior. the american people hve realized the evils of wasting money. they are saving every penny they can for a rainy day and retirement. there is more evidence in the retail and restaurant and travel industry. yep, americans have religion now. they don't waste money and spend a lot of time at home with family. praise the lord. we be saved.
Chris Christie's plan to revitalize AC was an utter failure from the start. He wouldn't allow slot machines at the Meadowlands Race track and other areas of NJ that would have benefited from slot machines because he didn't want to take business away from AC. It was not hard to predict that once the casinos opened in Pennsylvania and around NYC, that AC would be finished. The question now is, will NJ wait until every casino is boarded up in AC before allowing slot machines elsewhere in NJ?
NJ and you great together? Jersey was ass fucked by Corzine and Lautenberg. They had a Fort in central jersey which they decided not to lift a finger from being BRAC'd. Now the Casinos are going away too. NJ is quickly becoming the next Detroit.
I am glad I left. NJ t is just a play ground for the wealthy Wall Street types.
Those dummy NJ casinos don't get it either. Last time I was there I got yelled at by some POS casino worker for asking her highness a question when the movies were opening. Stupid shits, you can go to Maryland or PA now and gamble.
Fuck you NJ
When all your money goes to taxes, what's left to gamble?
Thanks Ohio for absorbing the refugees. Texas has enough of them, well, the.california flavored ones anyway and they have already turned.Austin into a.blue city-state.
You're fired.
Donald Trump is one of the greatest businessmen of all time. Built and empire from nothing (other then a huge inheritance and a government bankruptcy bailout). This man should have a statue erected in every town square.
I believe that there are obscenity laws against the erection of statues of a Penis in every Town Square.
It is morally offensive to subject the children of our Great and Moral Nation to the indignity of that. How dare you suggest that atrocious offense...to the...to the....to the CHILDREN?!?
You need be ashamed of yourself for even coming up with that suggestion. What are you? Some sort of whacko commie pervert?
Trump Plaza is next door to Boardwalk Hall. Boardwalk Hall is home to the World's largest pipe organ. (Yes, I know, the World's largest PLAYABLE pipe organ in in Philladelphia). The AC organ has been under restoration for 15 years, with major progress being made in the past 3 or so because of increases in available funding.
I stayed in Trump Plaza a few years ago when I visited AC for the express purpose of touring the pipe organ next door. The hotel stay was so-so, the organ tour one of the highlights of things I've done in the past 10 years. Truly remarkable.
I care not a whit about Trump, or the hotel, or unions. But in this case, it doesn't bode well for a true treasure of history. A 33,214 pipe pipe-organ. AC is in another downturn, and interest in the organ will again wane. And I find that sad. I would have stayed there again when I went back to hear it played.