With competition from other outlets in neighboring states, including casinos operated by Native American tribes, gambling revenue in Atlantic City has plunged by nearly half from its high of $5.2 billion in 2006, although revenues ticked up a bit in June. Vince Mazzeo, who represents the Atlantic City area, told Reuters. “We didn’t expect this to happen all at once like this,” New Jersey state Rep. The city’s newest casino, Revel, has filed for bankruptcy twice and may shut down next month if a buyer is not found at auction.īetween them, the closures and threatened closures have put nearly 8,000 jobs at risk. Last month, Las Vegas-based Caesars Entertainment announced it will be shuttering the Showboat Atlantic City Hotel and Casino in August. The Atlantic Club closed abruptly in January. “I’ve been back and forth between being depressed and angry all day,” Jim Whelan, a New Jersey state senator and former Atlantic City Mayor, told KYW, the CBS affiliate in Philadelphia, on Sunday.Ītlantic City began the year with a dozen casinos in operation but will may soon be down to eight. According to a document obtained by The Associated Press, a total of 1,153 layoffs are expected. 16, making it the latest in a series of Atlantic City casinos to go under.Īs required by federal law in advance of mass layoffs, the hotel sent out warnings about the planned closure to employees on Monday. The Trump Plaza Hotel and Casino is expected to close on Sept.

1st atlantic city casino to close