The announced closure of Atlantic City’s Trump Taj Mahal is expected to have effects beyond the once-popular gambling destination. It was confirmed on Friday that the hotel and casino complex will be closed on October 10 after more than two decades of operation.
People with interest in the matter have pointed out that the closure will result in both proponents and opponents of the proposed expansion of the New Jersey casino industry outside Atlantic City bolstering their arguments.
State residents will be able to cast their vote on the matter in the November referendum, less than a month after Trump Taj Mahal’s closure.
Proponents of the potential expansion have pointed out that Atlantic City’s struggling casino industry and overall economy needs a boost from outside the city and the establishment of two casino complexes in North Jersey could become that boost. In addition, it is believed that casinos outside the once-popular gambling resort will prevent New Jersey from losing more gaming customers to neighboring states, most of which have initiated expansion of their own casino industries.
As for opponents of the proposed construction of two new casino resorts, they have argued that this would further weaken the state’s existing gambling venues and might even lead to more closures. According to latest polls conducted, up to three Atlantic City casino complexes may close doors when faced with new in-state competition.
The city’s casino industry has been showing certain signs of revival over the past several months but Trump Taj Mahal’s closure came as an indication that it still has a long way to go before returning to its former glory. And if New Jersey residents decide to support the proposed casino expansion, the attention may be averted at least temporarily to the new casinos to be built in the state’s northern part.
Trump Taj Mahal has become the fifth Atlantic City casino to close doors over the past two years. Four casinos were shuttered back in 2014 and Trump Taj Mahal itself was headed to that fate but was saved by New York billionaire investor Carl Icahn.
The casino has been making the headlines lately as workers at the property have picketed it since July 1. In fact, it was namely the workers’ strike that was cited as the main reason for the venue’s closure. Trump Taj Mahal officials said in a statement that it has been losing millions of dollars every month and that its employees have closed any path to profitability.
The casino opened doors in April 1990. Formermly owned by Republican presidential nominee Donald Trump, it was dubbed “the eighth wonder of the world.”
