As Trump Plaza closing nears, Trump Taj Mahal experiences money problems

[unhappycamper]

http://www.nj.com/atlantic/index.ssf/2014/09/trump_taj_mahal_experiencing_money_problems_trump_plaza_closing_nears.html#incart_m-rpt-1



Trump Plaza is set to close on Sept. 16 but the casino is considering keeping its Internet betting operation online after it shutters.

As Trump Plaza closing nears, Trump Taj Mahal experiences money problems
By The Associated Press
on September 04, 2014 at 4:55 PM, updated September 05, 2014 at 2:24 AM

Trump Plaza is considering keeping its Internet betting operation online after the physical casino closes Sept. 16, and the Taj Mahal is experiencing money problems.

In a petition to New Jersey casino regulators, Trump Entertainment Resorts says it might try to keep its Internet gambling operation with online partner Betfair going after Trump Plaza closes on Sept. 16.

The petition says the company has not decided yet whether to seek permission from the state Division of Gaming Enforcement to keep its Internet gambling license. The company is "exploring the economic, legal and practical feasibility of continuing its relationship with its Internet gaming provider following the cessation of gaming operations."

Betfair and Trump Plaza have won $4.3 million from gamblers through the first seven months of this year, tied for last place with Taj Mahal and its online partner Ultimate Gaming. Borgata, the online market leader, has won $27.1 million, and Caesars Interactive has won $21.2 million through July.

[Warpy]

1. It takes a real genius to go broke in the casino business.

[kickysnana]

2. Perhaps he is getting ready to divorce, again. n/t

[Warpy]

3. The current silicone upholstered Mrs. Trump

looks like the type who will pick him clean, right down to the bones.

After all, his businesses failed using somebody else's money, not his own.

[Celebration]

7. Though these still bear his name

He sold them several years ago. He has no interest in them at all.

[golfguru]

4. Economy sucks

Last year 137 golf courses went out of business and closed.
People have no spare cash for leisure activities. 3 years ago
it was hard to get tee time. Now I can walk on all nearby courses.

[Sherman A1]

5. Interesting

and I believe a very telling fact. Do you have a link to an article on the number of courses that closed last year. Sounds like a good read. I'm not a golfer myself so this escaped me, but I agree with you that people have less and less disposable income and the loss of that many courses is also a big loss of jobs.

[golfguru]

8. I do not keep links because I read 1000 things in a week

but you may try Google. I am sure there is a link.

[Celebration]

6. I think it is just a change in consumer choices

Tiger Woods was responsible for much of the popularity in golf. At about the time he began having issues, bike lanes and roads were built all over the country. I see people out biking and running. Yes it is cheaper, but it also takes less time. Plus you can get more exercise. Young people think golf is too slow paced.

Tennis was immensely popular in the 70s--but after Chris Evert, Jimmy Conners and McEnroe retired, not so much. I hear it is gaining back somewhat now at the expense of golf. Golf remains more popular internationally. Young people here are just not taking it up.

[Sherman A1]

9. Excellent observations

as it is never just one thing. Certainly the economy is a significant factor, but as you mentioned changing choices most likely have a large role in the mentioned closings of golf courses as well as consumers look for different, less expensive and perhaps trendier means of relaxation. We also need to remember that just surfing the internet or such things as online gaming are huge uses of time as well and each of us has a finite amount of disposable time as well as a finite amount of disposable income.

[golfguru]

11. Serena won $4 Million in US Open Tennis Championship

Golf pro tour currently is handing out biggest prize money ever.
Every week, the winner gets a $1.5+ Million check and even those finishing near the bottom are awared 10's of thousands of dollars.

Then consider the recent news that top 10% richest Americans are the ONLY group to have increased their wealth since 2009. The other 90% have lost ground.

That explains the slowdown at golf courses where the 90% play. Private courses run by the likes of Trump are doing fine.

[unhappycamper]

10. I can see economic decline in other things such as NASCAR and TV

I've been trying to watch all the NASCAR races this year checking the crowds. What I've noticed:

* Many NACAR races are now being held at B level tracks.
* There are always empty seats - sometimes less than a thousand people in the stands.
* NASCAR ran a race this year in Lima, OH.
* NASCAR is no longer on Faux Noise.
* Junior is still running his National Guard recruiting machine ($32 million a year from the Department of 'Defense')

I have DirecTV for satellite cable.

* Movies on premium channels (HBO, Showtime, etc) are becoming 70s, 80s and 90s movies.
* More pro sports are showing on cable channels rather than non-cable TV.
* Reality TV (think cheap) is taking over everywhere. Lockup, Real Wives, 19 Kids and Counting, The Batchelorette, Cops ad nasum.
* Many non-cable TV stations now run ads into Saturday afternoon.

Basically the folks who provide this content are trying to cut costs. (Hope you like watching Dirty Harry on HBO.)