![]() ![]() Now, as of 2020, the poverty rate in Atlantic City is 35.2 percent, which is more than triple the national poverty rate in America. And the issues of corruption and crime continued. "I got out seven years ago - my timing was impeccable. The casinos initially brought business, but Atlantic City failed to capture the same magic found in its Western counterpart, Las Vegas. "I let them use my name, but I have nothing to do with it," Trump told The Associated Press on Saturday. He has sold most of his interests, however, limiting his exposure to a 10 percent stake in Trump Entertainment Resorts. ![]() Trump Plaza was one of real estate mogul Donald Trump's pet projects when it opened in 1984. 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.Ä«etween 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. ![]()
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