Name: 0715GamblingFinished
Uploaded: 2014-07-15
Duration: 1 min 46 s
Description: 0715GamblingFinished

Sounds like so long for one of the more iconic sites on the Atlantic City Boardwalk as Trump Plaza employees received layoff notices Monday. The anticipated mid- September closing makes Trump Plaza one of four Atlantic City casinos closing or expected to close in 2014 alone. That's a third of the city's casinos employing a fourth of casino work force. 218 pounds and one fourth. Considered power houses for gambling on the east coast, the draw of Trump Plaza and Atlantic City, even for A list celebrities was once obvious. The American Gaming Association still listed Atlantic City only trailing Vegas as the top grossing casino market in the country in 2012 at more than $ 3 billion in revenue. But as the New York Times notes the city's gambling revenue is down nearly $ 3 billion since 2006 and three of those top ten markets were regional competitors. New Jersey is also surrounded by states that now have 20 casinos vying to keep customers and their dollars at home. It appears the boardwalk and the city must now pivot to stay viable, while The Times report gambling still makes up more than 70 % of Atlantic casino revenue. The mayor and the governor are embarking on a pattern forged by Las Vegas 15 years ago. Today, gambling accounts for only 30 percent to 35 percent of revenues at Las Vegas casinos. Vegas now brings in the rest through retail, restaurants, and entertainment, much of that brought to town by major conventions. Opened by Donald Trump in 1984, NPR reports the namesake of Trump Plaza sold off all but 10 % of its ownership company. Trump Plaza is expected to close September 16th. Thanks for watching. I'm Cliff Judy.