There may be another Atlantic City casino closure this year. CBS 3 in Philadelphia is reporting that sources tell the station Trump Taj Mahal will file for bankruptcy protection and may close in November. This would come after its sister property Trump Plaza closes on September 16.
If this turns out to be the case, it would be the fifth casino closure in Atlantic City in 2014. Atlantic Club closed in January. Showboat closed in August. Revel closed earlier this week and Trump Plaza is scheduled to lock its doors permanently in just over a week.
Deutsche Bank predicted that there would be just six casinos in Atlantic City by 2017. After Trump Plaza closes, there will be eight.
Donald Trump licenses his name to Trump Taj Mahal and Trump Plaza. He is suing Trump Entertainment Resorts to remove his name from what he feels are properties that he does not want to be associated with due to the decline of the casinos. He will get his first wish when Trump Plaza closes. It remains to be seen how the situation at Trump Taj Mahal will pay out.