Meanwhile, oversupply in the US gaming industry, especially in the northern half of the Eastern Seaboard, was again documented in “Industries to Watch: More Gaming Troubles.” Since then, Trump Plaza, a centrally located gaming operation on Atlantic City’s famed Boardwalk for decades, shockingly announced it would be closing permanently this fall.
Sources within the industry previously noted in NACM publications that at least three to five casinos would need to close in the US Northeast by 2015, primarily in Atlantic City, NJ, for the existing properties to have a realistic chance of success. Since those assertions, voiced in early 2013:
- Atlantic City’s Revel entered bankruptcy twice and was still scrambling for a buyer this July, with the possibility of a full closure looming less than two years after its glitzy opening.
- Revel's neighbor, Showboat, announced it will cease operations at the end of August so that its parent company (Caesar’s Entertainment Group) can concentrate on its three other properties in the city.
- The closure of Atlantic Club, a former Hilton-owned gaming operation located less than a mile away from the two previously mentioned casinos, was completed this spring.
- Brian Shappell, CBA, CICP, NACM staff writer