Casinos in Atlantic City closing down
Submitted by Wanderlust AndiAtlantic City’s famous Trump Taj Mahal casino may close if takeover talks between current owner Trump Entertainment and financier Carl Icahn fail. Without a deal, the Trump Taj Mahal will become the fifth casino in the legendary New Jersey resort to close in 2014. To date 8,000 casino employees have lost their jobs.
Casinos along the Boardwalk are facing increasing competition from newer entertainment venues in the region.Mr. Icahn is seeking $175 million in tax concessions from state and city government, and intends to invest $100 million in the property.
Interestingly enough, despite all these closures, I haven't been able to find great deals on hotels in Atlantic City right now. It does make you think that maybe they need better pricing structures, like you see in Vegas, rather than more taxes from us.
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