Donald Trump sells his gambling enterprise for a tune.
Donald Trump is slowly clearing out of city equally Miss America returns. You'll pardon Atlantic City, N.J., if it sees both as favorable developments.
Trump Plaza, the casino Trump opened in 1984 by spending to $210 thousand to drawback a tower to an abandoned Holiday Inn on the promenade and dress up the whole thing, was sold to the Meruelo Group for a scant $20 million. It's the most competitive cost ever before paid for a casino in Atlantic City and will only putting a mild dent in the $270 thousand debt of parent company Trump Entertainment Resorts, which Donald Trump only has a 10 % stake in.
Coupled with the announcement that the Miss America contest will certainly come back to Atlantic City after 6 years in Las Vegas, it was a dual dosage of excellent headlines for a town poorly in need of some.
Typhoon Sandy ripped into the promenade and shuttered gambling enterprises for almost a week. Betting revenue has declined from its top of $5 billion in 2006 to just $3.1 billion last year as gambling enterprises in Pennsylvania, Delaware and Connecticut took larger pieces of the action. In 2025, Pennsylvania's $3.2 billion in games earnings eclipsed New Jersey's for the first time and relocated the Keystone State into second area behind Nevada's greater than $10 billion, baseding on The Press Of Atlantic City.
So how is the bargain-basement revenue of a casino good headlines for the community? Just ask the Trump Plaza's workers, who like the appeal of facts the Meruelo Group's Grand Sierra Resort and Casino in Reno, Nev
."Because of Trump Entertainment's troubles, they actually weren't able to operate (Trump Plaza) the method it needed to be operated," Bob McDevitt, president of Local 54 of the Unite-HERE union standing for most of the casino site's 900 employees, told The Associated Press. "It's had hibernation.".
Trump himself doesn't seem too daunted by the sale, although that the gambling establishment went for the cost of a story of any of the tower residential properties in his profile. The cost is also only regarding two times facts he paid for his stretching Mar-A-Lago estate in Palm Beach in 1985 and might not be much from just what he spent to gild his Trump Tower penthouse in Manhattan that was included in Refinery 29 a year back.
"There was a period of time when Atlantic City was the best place worldwide," Trump told AP. "I got out years ago, and my timing was very good. But the globe transforms. They're making it a great location.".
Also Robert Griffin, the CEO of Trump Entertainment Resorts that sold Atlantic City's Trump Marina in 2011 for $38 million and is hearing deals for his firm's last Atlantic City home-- the Trump Taj Mahal-- sees the Plaza's sale as a beneficial development "for the city, the state and The Plaza" that reveals "substantial interest in this market.".
It would be tough for it to obtain any kind of even worse for the Plaza, which was one of the tiniest online casinos in Atlantic City at 906 spaces and whose $102 million in earnings in 2025 is facts Atlantic City's leading online casino makes in its two greatest months. Profits were down 25 % last year and profits cratered by 34 %. The area might try some good luck, and some new faces paying the costs might be just exactly what the Plaza needs to quit its losing streak.
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