The former Trump Plaza Casino imploded on Wednesday, February 17, 2021, in Atlantic City, NJ
, The Associated Press
Trump Plaza, the first casino Donald Trump ever built and a faded holdover from Atlantic City’s glamorous past, fell to earth in a cloud of dirt, dust and noise on Wednesday morning
Carefully placed explosives imploded the 39-story white tower on the Atlantic Ocean that had stood empty for years City officials wanted it to be demolished on complaints that chunks of concrete fell from the building.A few hundred people in cars paid $ 10 to run on a former airfield to park that was less than 2 miles (3) kilometers away on a freezing winter morning to watch the plaza be finally destroyed
LOOK: The Trump Plaza Hotel and Casino in Atlantic City is being demolished The hotel has been closed since 2014Twittercom / qniUzxp8Nk
While Trump’s faded name could still be seen in the outline of giant letters that once branded the building, he hasn’t owned it in years, Carl Icahn acquired it when he bought Trump Entertainment Resorts out of bankruptcy Icahn in 2016 no plans announced for the property Atlantic City Mayor, who was struggling to demolish the plaza, said he wanted to replace it with a mixed-use development, perhaps something focused on family entertainment “The last thing we need now is is another casino, “Mayor Marty Small said in an interview
The demolition of the building means “turning the page, the beginning of a new era” Small said, a Democrat The Trump era in Atlantic City will officially be overâ ????
The Plaza opened in 1984, the first of three casinos Trump would eventually own in Atlantic City, all of which would go bankrupt
“I like the casino business” Trump wrote in his 1987 book “The Art of the Deal” ???? I like the scale which is huge, I like the glamor and most of all I like the cash flowâ ????
Trump took an early interest in casinos The idea of getting into the business came to him in late 1975 when he heard a radio report about how a strike by hotel workers in Las Vegas had brought Hilton’s stock price down – despite the two Casino hotels were a small part of the company’s portfolio
???? It occurred to me that even if I finally had the hotel built and it turned out to be a huge success in the largest city in the world, it wouldn’t be nearly as profitable as a moderately successful casino hotel in a small desert town in the southwest, ?? ?? Trump wrote in the book I went on a trip to Atlantic City soon after hearing this radio reportâ ????
He admits in the book that he bluffed a bit to secure his future partner in Trump Plaza when the project began, he invited executives from Holiday Inn to see how much work the site actually was the building had hardly been started but Trump collected “every bulldozer and dump truck” His site supervisor saw that it looked like they were busy at work when the Holiday Inn staff came over to visit
“If they actually got something done, so much the better, but if necessary, the bulldozers should dig up dirt from one side of the site and throw it on the other”He said Holiday Inn decided to team up with Trump on the project. The partnership didn’t last long – in 1986, Trump bought Holiday Inn’s stake in the
Trump Plaza’s initial success would spur more spending Trump took on more debt, bought and exited the Taj Mahal in Atlantic City after waging a bidding war with Merv Griffin over parent company Resorts International, and Trump’s portfolio consisted of its prime Four casinos, three in Atlantic City and one in Indiana However, the expansion was costly and his company’s heavy debt burden made it difficult to compete with competitors. At one point, Trump’s New Jersey casinos ran out of money to put stools in front of slot machines
Atlantic City was the only place that was legally played in the Eastern USand it was the largest gaming market after Las Vegas for a while. Atlantic City casino revenue peaked at $ 5 billion in 2006. The expansion of legalized betting in neighboring states led to a collapse in traffic to the remote New Jersey beach resort with more than half of the properties changing hands or closing, the city’s nine casinos generated $ 1.5 billion in revenue last year, although online casino games and sports betting brought in another $ 4 billion in revenue nationwide
Tilman Fertitta bought Trump Marina in Atlantic City in 2011 for $ 38 million and renamed it Golden Nugget In a recent presentation, Fertitta said he has increased revenue 36 percent and a return on investment since acquiring the casino of 15 percent achieved for the one-time loss Fertitta also used it to set up an online betting business with a current market value of more than 800 million US dollars
Hard Rock International has bought, remodeled and renamed the Trump Taj Mahal It is now the second tallest casino in town after Borgata by MGM Resorts International Joe Lupo, President of Hard Rock Hotel & Casino Atlantic City, said at a press conference on February 2 that the company was so pleased with the financial performance it had seen in an otherwise tough 2020 that it paid out $ 1 million in employee bonuses
In 2014, Trump sued for his name to be removed from the two remaining New Jersey resorts, saying they were in disrepair, The Indiana Riverboat Casino was also sold Now the Trump empire does not include casinos – not even the Trump International Hotel Las Vegas advertised as a no-smoking, no-gaming, upscale luxury hotel
It had been closed for two years by the time Icahn acquired Trump Plaza. The building was classified as an “imminent security risk” according to the mayor they had chunks of concrete falling from the top floorâ ????
Small said that at his first address in the city’s state last year, the biggest applause was when we set up the slide, a bulldozer going through Trump Plaza ???? He initially proposed a charity auction where the winner would be given the chance to press the button that would bring the building down that was canceled last month for security reasons, but Small said Icahn hit the highest bid and got 175$ 000 donated to the Boys & Girls Club in Atlantic City
It seems fitting that the casino’s final act is to help a town where Small said Trump has frozen so many small business, mom and pop stores in the pastâ ????
In July 2016, Hillary Clinton used the hotel as the backdrop for her failed presidential campaign to deliver a speech highlighting Trump’s multiple bankruptcy filings
That triggered a quick Trump response on Twitter: â ???? I made a lot of money in Atlantic City and left 7 years ago, great timing (as everyone knows) â ????
Trump Plaza, Atlantic City
World News – CA – Trump Plaza Casino has been demolished in Atlantic City, marking the end of the era – BNN Bloomberg