Two of the Trump Entertainment Resorts’ casinos located in Atlantic City face uncertain future, as the closure of the Trump Plaza casino comes closer and closer. The casino is contemplating with the option of keeping its online betting activities even after the offline casino buildings close.
The closure of Trump Plaza is set to be on September 16th 2014. The Trump Entertainment Resorts announced that it may continue its online gambling operations with its partner Betfair. The company is currently analyzing the market and the legal choices it has to consider before continuing its online business.
Current reports state that there are profits of $4.3 million amassed by the mutual business between Betfair and Trump Plaza, since the beginning of the year. These profits are running for last place with the other ‘contestants’ Ultimate Gaming and Taj Mahal.
Compared to other partnerships in the regions, such as those between the Borgata and Caesar Interactive which have profits over twenty million each. Borgata is the leader in the sector with 7 month profits of $27 million.
The petition for autonomous operation has been requested by other vendors in the Casino as well. This idea was first started by vendors from the recently closed casino resort Revel, which closed its doors a week ago. The food venues such as the outdoor club named HQ stated they can still function and welcome customers, without the need for the Revel casino to be opened.
It asked the Federal Bankruptcy Court for a legal permission to resume working even when the Revel casino is seeking new owners with the help of Chapter 11 case. There hasn’t been any answer from the side of Revel Entertainment Group considering this issue, which means the judge cannot give orders for the club to resume working.
The Revel casino announced bankruptcy around a week ago. More than 5,000 employees were let off. The casino is one of three which are to close this month, and has operated only two years with the hope to invigorate the Atlantic City gambling industry, and bring back its former glory as one of the gambling capitals in the United States.
The Trump Entertainment has done similar requests for the Taj Mahal casino, trying to extend its closure and keep some of its facilities open. The foreclosure agreement was to originally expire on August 18th, yet there are negotiations undergoing still. Company representatives did not comment on the state of the negotiations last Thursday, when a meeting between the two sides was held.
The Taj Mahal had a profit of $1.8 million the last three months which is just 30% of the last year’s profits for the same period. As to Trump Plaza, it has unfortunately reported a loss of $3.3 million for the last three months.
