The bankruptcy court of Delaware has discussed the Trump Entertainment Resorts request for selling out the equipment of Trump Plaza, which saw off its last players a couple of days ago. The company got the permission, which enabled the owners to sell every single piece of the equipment and even the furniture.
Trump Entertainment authorities decided to take these actions in order to succeed in covering the expenses for the bankruptcy procedures. Plus, it won’t be necessary the remaining sum of money to be used for equipment maintenance and storage.
In the written request, sent to the Delaware court representatives, the number of the items for sale was not precisely defined. However, Bob Griffin, the CEO specialist of Trump Entertainment, said that the slot machines, that are said to be outdated, will be on sale but he hadn’t given additional information about their exact number.
The Division of Gaming Enforcement announced the data, available in the last report, sent from Trump Plaza. According to it, there were 56 table games and less than 1, 600 slot machines available at the beginning of September.
Only a few months ago, Atlantic City was a thriving gambling venue with 12 working casinos that attracted players from all over the country. Now there are eight remaining after the bankruptcy of Trump Plaza – the last casino that followed the tendency, started by Showboat, Revel and Atlantic Club.
Actually, the Trump Plaza request for selling its gaming equipment is not regarded as something out of the ordinary.
Earlier this year Tropicana Entertainment acquired the assets of Atlantic Club Casino, including its clients. Caesars Entertainment authorities took the decision to distribute the Showboat’s equipment to the three remaining casinos they manage – Bally’s, Caesars and Harrah’s.
September 2nd saw the closure of Revel Casino but the equipment hasn’t been sold out because it was a subject of disagreements between the Casino owners and a company that is a leading manufacturer of slot machines. Its representatives claim that the Casino is in debt to the slot machine company.
For now, Trump Taj Mahal is the only casino, operated by Trump Entertainment but it is also likely to close unless it is allowed to have some privileges until it is in position to solve the delicate matters and attract a decent number of visitors.
Although the casino closures are a result of a combination of factors, many specialists believe that the fierce competition Atlantic City-based gambling venues face up is among the main reasons for their bankruptcy. Statistics show that the newer casinos, located in the neighbouring states, attract more and more players. It is a well known fact that the closure of the casinos will have a devastating effect on the New Jersey’s economy. The situation gets even worse bearing in mind the number of people, currently employed in the gambling industry, who will lose their jobs.
