More Atlantic City casinos may close, says Moody's
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Atlantic Club Casino Resort first opened on February 7, They closed their doors permanently on January 13, They closed their doors permanently on February 1, Revel Atlantic City first opened on April 2, A new casino, Ocean Resort Casino has opened in its place. Showboat Atlantic City first opened on April 2, Trump Marina Casino first opened on January 1, They closed their doors permanently on May 23, A new casino, Golden Nugget Atlantic City has opened in its place.
Trump Plaza Casino first opened on May 26, They closed their doors permanently on September 16, Trump Taj Mahal Casino first opened on April 2, They closed their doors permanently on October 10, Atlantic City Rating 4.
World Casino Directory does not process any money. The links on our site are for entertainment and informational purposes only. The first casino, Resorts, opened in , kicking off three decades of soaring revenue and employment. But the Great Recession hit just as new casinos were popping up in neighboring Pennsylvania and New York, cutting deeply into Atlantic City's customer base.
It wasn't supposed to be like this. Mayor Don Guardian says his city is remaking itself as a more multifaceted destination, where gambling is only part of the allure. But he acknowledges the pain this weekend will bring.
Our hearts go out to our neighbors and friends. We still have difficult waters to navigate. It also said it does not see any more casinos closing in Atlantic City for at least the next two years. The firm also predicted that a good chunk of the money being won by the Showboat, Revel and Trump Plaza will go to the surviving Atlantic City casinos.
Showboat and Revel are closing this weekend; Trump Plaza shuts down Sept. After that, Atlantic City will have eight casinos after starting the year with Fitch predicted at least 50 percent of Revel's revenue will go to the remaining casinos, judging by increases that the Tropicana Casino and Resort and the Golden Nugget Atlantic City have seen since the Atlantic Club closed down in January.
Fitch also predicted 60 percent of Trump Plaza's revenue and 75 percent of Showboat's revenue will stay in Atlantic City, particularly with Showboat's parent company, Caesars Entertainment, also owning three other casinos that will continue to operate in Atlantic City. Caesars said Friday that more than Showboat employees have gotten jobs with other casinos the company owns, here or in other states.
That figure represents about half the number who had applied for new jobs elsewhere in the company. The Showboat has more than 2, workers. Fitch said the three Marina District casinos — the Borgata, Harrah's and the Golden Nugget — may benefit more than the Boardwalk casinos because the marina properties are "the freshest" after major renovations in the last 10 years and because boardwalk activities are dwindling.